Bitcoin
GameFi Short Video Platform Cheelee Launches CHEEL Community Drop Worth $5,000,000

press release
PRESS RELEASE. Cheelee, the GameFi short video platform well-known for rewarding users for viewing their feeds, has announced the most monumental Community Drop of 2023. Starting from April 17th, every vertical video lover now gets the chance to get on board one of the most promising projects ever launched and take home a share of a $5,000,000-worth pool of CHEEL tokens. The community drop will be run on Zealy platform, so everyone is warmly welcomed to grab a share of the loot.
To succeed in Cheelee Community Drop, the participants will have several hassle-free tasks they will have to complete, designed to familiarize them with the platform, its in-app earning mechanics, as well as onboard them to the global Cheelee fans community. Finally, the Community Drop pool of $5,000,000 worth of CHEEL will be spread among all participants that meet the afore-mentioned criteria. A more detailed guide on how to join in on the drop is available on the official Cheelee Community Drop page.
Cheelee, declared among the most promising projects to transform the Web3 landscape in 2023 by a plethora of media platforms, is a step-change in social media development. The platform was the first of its kind to set its focus on the people from whom SocialFi projects actually derive their value – their users. Thus, unlike YouTube or TIkTok, Cheelee not only rewards the content creators but also the vertical video consumers for the time that they spend viewing their feeds.
As Cheelee’s revolutionary approach relies on the attention economy theory introduced by Nobel prize winner Herbert Simon, the platform provides an equal opportunity for everyone to earn from their most in-demand resource – their time and attention. All you need to do to start earning with Cheelee is sign up on the app,and get your starter NFT-glasses. The rest is simple as can be – Cheelee users receive their rewards in the form of tokens for the time they spend consuming their beloved content. For even more money-making opportunities, Cheelee users can upgrade their NFT-glasses to earn their investments back at least two-fold.
Cheelee is set to bring the mass adoption of crypto to a whole new level. While the current crypto audience is estimated at a lowly 320M, the user base for short video socials reaches nearly 5 Billion people. With their revolutionary approach to building a true user-centered SocialFi platform, Cheelee is poised to conquer the social media market in the near future.
When reached for comment, Cheelee CEO and co-founder Ruslan Sharov gave the Community Drop participants a warm welcome.
“We are pleased to announce the initiation of our drop, the likes of which have never been seen before. Anybody who so desires will get the chance not to carve out for themselves a healthy share of the $5,000,000 prize fund but will also be able to get close and personal with a product that has already changed the rules of the game in the social network segment. The work that our team does is geared first and foremost at catering to the needs and interests of our users, and now, in Cheelee, they see before them a unique opportunity to transition into the Web3 world and make money off of their own unique habits and preferences,” – Ruslan Sharov declared.
About Cheelee
Cheelee is a GameFi short video platform that pays users for the time they spend viewing their feeds. Powered by smart AI-algorithms, Cheelee provides a healthy mix of dopamine from the user watching the content of their choice and monetization of their valuable attention, which has until now gone ignored by other existing social media platforms.
Cheelee’s tokenomics is based on two digital assets – CHEEL and LEE. CHEEL, the native token of Cheelee, is utilized for voting on new feature integration and other governance procedures. Currently traded on Coinsbit and BitMart, CHEEL has already enjoyed high praise among the media and community with the 10x+ growth it has shown and is projected to even maintain its meteoric rise. Meanwhile, the utility asset LEE serves for in-app purchases, including buying and upgrading NFT-glasses, content promotion, and donations.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Source: Bitcoin.com (Bitcoin)
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CoinReporter.io and EUReporter.co does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Bitcoin
Tokenized KYC: Tron Founder Foresees Crypto Regulation Future

In a recent interview, Justin Sun, founder of Tron, discussed the increasing regulatory scrutiny on the cryptocurrency industry and how tokenized know-your-customer (KYC) checks could become a new standard. He suggested that, in the future, even decentralized exchanges might need to adopt these procedures to ensure compliance with “travel rules and anti-money laundering (AML) requirements.”
Sun’s comments come amid a broader conversation about regulatory requirements for cryptocurrencies, particularly in the United States. Sun conjectured that the U.S. government could mandate KYC checks for anyone involved in crypto token transactions. This could mean that developers of decentralized exchanges, like Uniswap, would have to ensure KYC checks for all their on-chain users.
In a potential solution to this regulatory challenge, Huobi, a cryptocurrency exchange where Sun is an advisor, recently launched the Dominica Metaverse Bound Token (DMBT). Part of the state-backed Dominica Metaverse Digital Citizen (DMDC) program, DMBT is a “soulbound token” that essentially offers tokenized identity to those who have passed tier 3 KYC verification on Huobi. This verification process includes facial recognition and the submission of personal information and national ID pictures.
DMBT is minted on the Tron blockchain and grants holders “citizenship” to the Dominica Metaverse, which serves as a government-issued ID for the Commonwealth of Dominica. Beyond its initial function as a virtual interaction layer and a regional marketing tool, Sun envisages greater potential for the Dominica Metaverse in other parts of the digital economy.
According to Sun, having a recognized platform with KYC could enable users to access various platforms using the same soulbound token or decentralized ID. Such a system could be adopted by different applications such as Compound, Uniswap, and dYdX to verify a user’s identity.
Sun believes that this approach could balance regulatory compliance with the core values of decentralization and self-custody of digital assets prevalent in the crypto industry. He anticipates a multitude of use cases for decentralized ID in the future, given its potential to meet both user and regulatory needs.
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