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Cheelee

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Discover Cheelee's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Cheelee?

Cheelee (CHEEL) is a short video platform with GameFi mechanics that rewards users for watching content. It operates within the Attention Economy framework, where users earn tokens for their attention. The platform has a native token, CHEEL, which is used for governance and can be traded on various exchanges.

How is Cheelee used?

Cheelee (CHEEL) is the native utility token of the Cheelee Network, a short-form video platform that rewards users for watching content. Here are the primary uses of CHEEL:

  1. Transaction Fees: CHEEL is used to pay transaction fees on the Cheelee DEX (Decentralized Exchange).
  2. Staking Rewards: Users can earn staking rewards by participating in the staking process, which helps to secure the network.
  3. In-App Purchases: CHEEL is used for in-app purchases, such as buying digital items or accessing premium features within the platform.
  4. Voting: CHEEL is required for voting on the implementation of new app features in the future.
  5. Donations: Users can donate CHEEL to content creators as a form of appreciation for their content.
  6. NFT Purchases: CHEEL can be used to purchase NFTs, such as Digital Glasses, which are essential for earning rewards on the platform.
  7. Marketplace: CHEEL is used in the marketplace for buying and selling digital items, including NFTs.
  8. Advertising: CHEEL is used to purchase advertising space on the platform.

These uses highlight the versatility of CHEEL within the Cheelee ecosystem, providing users with various ways to engage and benefit from the platform.

How do I store Cheelee?

To store Cheelee (CHEEL) tokens, you can use a crypto wallet that supports the BNB Chain network. Here are the steps to follow:

  1. Download and Set Up a Trust Wallet:

    • Download the Trust Wallet app from the official website or through the Google Play Store or iOS App Store.
    • Register and set up the wallet by following the instructions on the app. Make sure to keep your seed phrase safe and note your wallet address.
  2. Buy BNB Chain:

    • If you don't already have BNB Chain, you can buy it on Binance. Log in to your Binance account, go to the Binance Crypto webpage, and purchase BNB Chain.
  3. Transfer BNB Chain to Your Trust Wallet:

  • Go to your Binance wallet section, find the BNB Chain you purchased, and click on "Withdraw."
  • Fill in the required information, set the network to BNB Chain, and enter your Trust Wallet address. Click the "Withdraw" button and wait for the BNB Chain to appear in your Trust Wallet.
  1. Connect to a Decentralized Exchange (DEX):

    • Choose a DEX that supports your wallet, such as Pancake Swap.
    • Connect your Trust Wallet to the DEX using your wallet address.
  2. Trade for Cheelee:

    • On the DEX, select your BNB Chain as the payment and Cheelee as the coin you want to buy. If Cheelee doesn't appear, you can find its smart contract address on BscScan and paste it into the DEX.
  3. Store Your Cheelee Tokens:

  • Once you have bought Cheelee, it will be stored in your Trust Wallet. You can manage and track your tokens within the wallet.

Remember to always use official sources and be cautious of scams when dealing with cryptocurrencies.

How to buy Cheelee?

To buy Cheelee (CHEEL) tokens, you can follow these steps:

  1. Choose a Reliable Exchange:

    • Centralized Exchanges (CEX): Select a trustworthy CEX that supports Cheelee (CHEEL) purchases. Popular options include Gate.io, LBank, XT.COM, and BitMart.
    • Decentralized Exchanges (DEX): You can also use a DEX like Pancake Swap, which supports the BNB Chain network.
  2. Create an Account:

    • CEX: Register on the chosen CEX, enabling 2FA and completing KYC verification for added security.
    • DEX: Download and set up a crypto wallet like Trust Wallet, which supports the BNB Chain network. Ensure you keep your seed phrase safe.
  3. Add a Payment Method:

  • CEX: Add a payment method such as a credit/debit card, bank account, or other supported options. Verify your transaction details and select a method.
  • DEX: Buy BNB Chain as your base currency on a CEX like Binance, then transfer it to your crypto wallet.
  1. Buy Cheelee (CHEEL):

    • CEX: Use fiat currency to buy Cheelee (CHEEL) directly, or first purchase a popular cryptocurrency like USDT and then exchange it for Cheelee (CHEEL).
    • DEX: Connect your wallet to the DEX, select BNB Chain as the payment, and Cheelee as the coin you want to buy. If Cheelee doesn’t appear, find its smart contract address and paste it into the DEX.
  2. Swap and Confirm:

    • CEX: Confirm your purchase and ensure the Cheelee (CHEEL) tokens are in your exchange wallet.
    • DEX: Click the Swap button to complete the transaction.

Remember to always follow security guidelines and be cautious of scams.

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History of Cheelee

Cheelee (CHEEL) is a cryptocurrency that has been active since 2023. Here is a brief overview of its history:

  • 2023: Cheelee was launched in February 2023 by NUTSon. It is a GameFi short video platform that operates on the concept of the "Attention Economy," allowing users to earn tokens by watching videos. The platform features two BEP-20 tokens: CHEEL, which provides voting power for project decisions, and LEE, which allows users to earn tokens by watching the feed.

  • Token Sales and Funding: Cheelee raised $3.75 million in its Seed round. In 2022, it raised $22.45 million, and in 2023, it raised an additional $10 million from VC SILA by SAFT.

  • Tokenomics: The CHEEL token has a total supply of 1,000,000,000, while the LEE token has a total supply of 7,000,000,000. The tokens are distributed through various channels, including community drops, team allocations, liquidity, marketing, rewards, and advisors.

  • Price History: As of 2024, the price of Cheelee has fluctuated. In 2023, it started at $9.24 and ended at $15.10. In 2024, it began at $15.71 and was trading at $15.66, with a return of 0.3391856%.

  • Market Performance: The current price of Cheelee is around $20.30, with a market capitalization of $1,092,967,960. The daily trading volume is approximately $5,414,673.

  • Platform Development: Cheelee has continued to develop its features, including the ability to buy NFTs with fiat money and the introduction of Digital Glasses, which are necessary for earning rewards within the app.

Overall, Cheelee has made significant progress since its launch, with a focus on creating a platform where users can earn tokens by engaging with content.

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How Cheelee works

Cheelee (CHEEL) is a short-form video platform that rewards users for watching content. Here's how it works:

Overview

Cheelee is a GameFi platform that combines social networking with cryptocurrency rewards. It operates on the BNB Smart Chain and uses NFTs and GameFi mechanics to create collections, loyalty levels, and marketplaces. Users can earn tokens by watching videos and engaging with the platform.

Digital Glasses and NFTs

When users sign up, they receive free NFT glasses that can be upgraded, bought, sold, minted, staked, or collected on the platform. These glasses are crucial to the Cheelee ecosystem and are used to earn tokens. There are different types of glasses, including starting glasses, smart glasses, and rare glasses, each with varying levels of endurance and earning potential.

Earning Tokens

Users earn tokens by watching videos and engaging with the platform. The tokens are called LEE and are used to increase earnings within the app. The speed of token accrual depends on the number of mined tokens, making it more difficult to obtain new tokens as the number of tokens increases. Users can also earn tokens by participating in the platform's marketplace and staking their tokens.

Tokenomics

The platform has a maximum supply of 1 billion CHEEL tokens, with a significant portion already in circulation. The token's value has fluctuated, reaching an all-time high and experiencing significant price changes.

Staking and Withdrawal

Users can stake their CHEEL tokens to earn passive income. The staking process involves holding a certain amount of CHEEL in a digital wallet, which can yield a high APY (Annual Percentage Yield) of up to 55.0%. To withdraw tokens, users need to fund their BNB wallet on the Cheelee app, which involves paying gas fees for each withdrawal. The minimum trade amount for withdrawal is $5 worth of LEE tokens.

Concerns and Legitimacy

Despite its innovative concept, Cheelee has faced concerns about its legitimacy. Issues include inflated viewer counts, questionable funding sources, and difficulties in creating wallets and collecting reward tokens. These concerns have led some to question the project's authenticity.

Overall, Cheelee offers a unique platform where users can earn tokens by engaging with content. However, users should be cautious and thoroughly research the project before investing due to the concerns surrounding its legitimacy.

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Cheelee's strengths

Cheelee (CHEEL) has several strengths that contribute to its potential success:

  1. Unique Concept: Cheelee is a GameFi short video platform that follows an Attention Economy approach, allowing users to earn while watching the feed. This innovative concept has the potential to attract a large audience and increase user engagement.

  2. User-Friendly App: The app is accessible for download from the App Store and Google Play, and it is user-friendly, with zero entry barriers. Users receive Starting NFT-glasses for free upon registration, which can be upgraded with rarer NFTs and gaming tools.

  3. Potential for Mass Adoption: Cheelee aims to break the barrier to cryptocurrency mass adoption by allowing a worldwide audience of 4.6 billion social media users to seamlessly enter the GameFi world. This broad reach could lead to significant growth and adoption.

  1. Strong Technical Indicators: The Relative Strength Index (RSI) momentum oscillator indicates a bullish sentiment, and the Fear & Greed Index is showing 75 (Greed), suggesting a strong upward trend in the short term.

  2. High APY Staking: Cheelee offers a high APY staking rate of 55.0%, which can attract investors looking to maximize their crypto earnings.

These strengths position Cheelee as a promising project with significant potential for growth and adoption in the cryptocurrency market.

Cheelee's risks

Cheelee (CHEEL) is a short-form video platform on the BNB Smart Chain that rewards users for watching content. Despite its popularity and impressive token performance, the project has faced significant concerns regarding its legitimacy within the crypto community. Here are some of the key risks associated with Cheelee:

  1. Fake Social Media Followers: It has been discovered that almost 90% of Cheelee’s followers on Twitter are fake, with newly created profiles having single-digit followers and no posts. Similarly, the majority of its 39,000 followers on Discord are also fake accounts. This is a common tactic used to deceive people into thinking a project has a large following, making it seem credible.

  2. Insider Trading to Inflate CHEEL Prices: There are allegations that team members were involved in insider trading, buying and selling tokens among themselves to create artificial demand and inflate prices. This is supported by the fact that the traded amount of CHEEL was always fixed, indicating the use of bots for wash trading. This artificial pumping was evident in March 2023 when CHEEL was gaining while the rest of the market dipped.

  3. Wallets Not Adding Up: There are inconsistencies in the creation and management of Cheelee wallets, which raises further suspicions about the project’s legitimacy.

  1. Risk Assessment: According to InvestorsObserver, Cheelee has a high risk score, indicating that it is a relatively high-risk investment. This assessment is based on factors such as the amount of money required to shift its price over a 24-hour period, recent changes in volume and market cap, and the potential for price manipulation.

  2. Market Volatility: Investing in cryptocurrency inherently involves risks, and the value of CHEEL can change quickly, going up or down. This volatility can result in significant losses if not managed properly.

These risks highlight the importance of conducting thorough research and exercising caution when investing in Cheelee or any other cryptocurrency.

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Cheelee's ecosystem

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Cheelee’s team

  • Roman Alekseev: Founder of Cheelee, an experienced entrepreneur with a background in business, tech, and crypto.
  • Ruslan Sharov: Co-Founder of Cheelee, an entrepreneur with 20 years of experience, business angel, and Co-Founder of the KSK group consulting company, Mazalt Group holding, and Gift To An Angel charity fund.
  • Yuriy Kardonov: Co-Founder and CPO of Cheelee, an experienced entrepreneur with a background in business, tech, and crypto; also attended Token2049 to share insights on Cheelee's growth.
  • Viktoriia Miracle: Chief Communications Officer of Cheelee, attended Token2049 to share data and experiences regarding Cheelee's rapid growth.

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The fundamental analysis assistant for crypto value investors.

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