Today we are going to talk about a web3 TikTok, called cheelee, with a token called Cheel. The current exchange rate is 16 US dollars, which has doubled in the past year. The current market value is 900 million US dollars, but there are still a lot of unlocked ones (currently only about 5% has been unlocked), so the total FDV is 17 billion. But we know that if the current market value of TikTok includes the overseas version of Tiktok, the overseas version of TikTok has a market value of 1.64 trillion US dollars and the domestic version of TikTok has a market value of 398.6 billion US dollars! So the entire TikTok market value is 2 trillion, and socialFi is a very huge industry.
Introduction
Cheelee is a GameFi short video platform.
Users on the Cheelee platform can earn money by watching and creating content, regardless of how many subscribers they have.
On average, users spend 2.5 hours per day on the social network without receiving any tangible benefits in return. At Cheelee, we believe this is an unfair dynamic.
mission
Cheelee's mission is to provide everyone with the opportunity to earn money for their time on social media.
Target
Cheelee’s main goal is to build Cheelee into a lifestyle where users around the world can play happily and earn money at the same time for the time spent on the Cheelee platform.
Vision
Cheelee is an application used by people worldwide for entertainment, development and money making! Cheelee operates within the framework of the "Attention Economy". Other social media treat users as information and advertising targets. But on Cheelee, the user is a full system member, partner and beneficiary.
The term “attention economy” was coined by Nobel Prize winner Herbert Simon, who identified a certain approach to information management by viewing human attention as a scarce commodity: human attention is the new oil.
The main idea of the "attention economy" is to use modern technology to convert human attention into income. One of the theoretical foundations is that you pay attention to what you want, and you get paid for it. Your attention is valuable.
Through the GameFi mechanism, Cheelee's viewers earn money together with the platform, converting their attention into money.
Gameplay
Digital Glasses - Virtual glasses in the Cheelee app, uniquely designed and with varying rarities. They allow users to view the app's feed and potentially earn coins by browsing, with different levels of glasses earning different rewards, similar to the mechanism of Stepn running shoes.
Dual Token Mechanism
CHEEL — This coin is used for in-app purchases. In the future, it will also be needed for voting on the implementation of new app features, i.e. the governance of the DAO.
LEE — the main internal coin of the Cheelee app, with a limited circulation. When users view the feed, they automatically receive LEE in the app wallet. The distribution rate is algorithmically adjusted based on the total coins mined: the more coins are mined, the more challenging it is to acquire new coins.
Attention — A renewable resource used to earn tokens and chests while browsing the feed with digital glasses. One unit of Attention = 5 minutes of bonus feed browsing time.
Boxes — rewards in the Cheelee app in the form of LEE coins, which users earn while browsing their feed.
Starting digital glasses — presented as a free gift when registering in the app, although their value of $5 is already included in the joining fee. These glasses provide an opportunity for accelerated earnings: in 7 days you can earn about 1.6 times their cost. To withdraw earned tokens, it is necessary to purchase glasses of Smart rarity or higher.
Rarity of Digital Glasses — refers to the system used to classify Digital Glasses based on their earning potential and accumulation of additional attention. There are 5 different rarity levels: Simple, Starter, Smart, Rare and Custom. Custom Digital Glasses are developed in collaboration with bloggers and brands.
Boxes — containers in the Cheelee app designed to hold digital glasses. Boxes come in three rarity types: Smart, Simple, Rare. The rarity of a box determines the type of digital glasses you may receive when you open it.
Durability — represents the durability of the digital glasses. The starting value of durability is 100/100. As you browse the information flow to get rewards, the durability value will gradually decrease. If you use 100% of attention every day, the durability will drop to zero in about 30 days.
NOTE: For the starting digital glasses, durability will drop to zero in approximately 7 days (assuming 4 attention points are consumed per day).
Digital glasses revenue model calculation
Digital Glasses' rarity affects:
- The amount of coins earned from watching streams
- Number of followers in the account
- The number of coins in the box
- How often boxes drop
Earning Strategy
Lucky
Boxes have the highest revenue, while information flow has the lowest revenue
Depending on luck, profit ranges from x1.2 to x3.3 of the cost of the digital glasses
mix
Average revenue of boxes + Average revenue of information flow
Depending on the hybrid strategy, the profit range is from x1.3 to x2.4 of the cost of the digital glasses
Stablize
Information flow has the highest profit, while boxes have the lowest profit
The stable profit range is x1.5 to x2.1 of the cost of digital glasses
Daily Coins and Attention Cap
1 follow = 5 minutes of viewing time
Every 6 hours, attention will be replenished according to 25% of your account total
Attention is a renewable resource and is required to earn coins and boxes when viewing information streams using digital glasses
With the starting digital glasses you will get 4 followings. This allows you to earn coins and chests during 20 minutes of watching the stream. LEE coins drop from chests.
Attention limit
The follow limit limits the maximum number of followers that can be restored in one day
- Initial attention limit: 4
- Maximum follow limit: 16
- To increase attention, purchase digital glasses of higher rarity
Advantages of Cheelee
1. Zero investment to start
After registering in the app, users are equipped with starting digital glasses, enabling them to participate immediately, with no initial investment required
2. Smooth integration into existing user processes
Cheelee enables users to earn money by simply viewing their social network feeds without requiring any significant user behavior or lifestyle changes
3 Development mechanism to support coin exchange rates
Cheelee allocates a significant amount of revenue to the stabilization fund: 70% of advertising revenue and in-app purchases, and 100% of profits from digital glasses sales and in-app transactions, ensuring strong support for the value of the Cheelee coin
4. Protect against farms and robots
Using advanced behavioral indicators, Cheelee proactively blocks fraudulent activity and bots, protecting the system from liquidity drain and abuse
5. Change the way content is monetized
Unlike popular social networks where bloggers earn from your views, Cheelee changes that dynamic. Here, users earn money by watching bloggers’ content, redefining monetization in social media.
Token Economy
CHEEL — Governance Token
Total Supply — 1,000,000,000
Can be used to purchase unique digital items within the app. It is also essential for voting on new features to be implemented in the app in the future
LEE — Utility Token
Total Supply — 7,000,000,000
All revenue within the app occurs in this internal token, which has a limited issuance limit. When watching a stream, it is automatically deposited into the in-app wallet. The rate of points is algorithmically adjusted based on the number of tokens mined: the more tokens mined, the more difficult it is to get new LEE tokens.
Distribution of governance tokens
Rewards 38%, market 28.625%, liquidity 10%, team 10%, reserved funds 12%, and the rest are very small.
As for token sales, the strategic round is around 1 USD, the private sales is 1.3, and the current price is 16 USD.
Finally, let me summarize this project. This is the socialFi project that is currently the closest to TikTok. There is no need to say much about the power of TikTok. The gameplay is almost the same as TikTok, and then the concept of watch to earn is added, and the gameplay is also added. Finally, the most popular application in web2 is realized in web3. Even if it cannot subvert TikTok, it is very good to get some traffic. For this kind of project, the best way is to watch to earn, rather than to take it in the secondary market. If you can buy a pair of glasses to make money, it is still okay. You have to calculate the profit model. If there is room for growth, there is definitely room for growth. It depends on the strength of promotion. Then the design of the economic model of the token is very important. If it doesn’t work in the future, there will be decline without incentives, just like stepn. #热门话题