Cheelee

$CHEEL

This project is going to pump users for cash, like most mobile games on the app stores. That said, there could be an opportunity to make money here.

Let's start with the CHEEL token...

This is the governance token that allows holders to make decisions for the project. I have never liked this model because most token holders usually don't care about the success of the project, they only care about profits. On top of that, about 43% has been allocated to insiders, including "marketing." The stats on their graph and table under token distribution also don't match.

https://static.cheelee.io/pdf/Tokenomics_eng.pdf

Next is the rewards token, LEE. This token is earned by watching the feed. There are a few catches here. First, you cannot withdraw any LEE that you earn with your starter glasses. You can only withdraw the token once you've upgraded your glasses. But surprise, you can only buy new glasses with USDT or fiat. This is the big red flag.

Once you do buy some glasses, they have "endurance" or a set amount of time that they will allow to earn by viewing the feed. The initial glasses only last 7 days. Therefore, you have to keep buying glasses to keep earning.

The bottom line is that you're exchanging fiat or USDT for a made up token that doesn't have any real value and could go away at any time.

However, if this catches on, there could be an opportunity to benefit from the appreciation of CHEEL. You would just have to know when to get out. Show Less

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