Today, let's talk about the Cheelee App, a new application where you can earn cryptocurrency simply by watching videos. But the question is: Is it legit? Is it worth using?

What is the Cheelee App?

The Cheelee App is a watch-to-earn blockchain-based social media platform. By watching short-form videos and creating content, you can earn cryptocurrency. This app utilizes NFTs and a dual-token economy system to reward its users.

Tokens in the Cheelee Ecosystem

1. EASY Token
   • This is the in-game currency, or the daily rewards you earn by watching videos in the app.
   • Currently, the conversion from EASY tokens to LEE tokens is not yet available.
2. LEE Token
   • The utility token of the Cheelee App. It is used for purchasing NFT items or upgrading your glasses.
3. CHEEL Token
   • The governance token of Cheelee. It is used for staking and has premium utility within the ecosystem. It is already available on major exchanges such as PancakeSwap, Gate.io, BitMart, Blofin, and others.

How Does the App Work?

1. Registration
   • When you sign up, you get a starting glass, which is required to earn in the app. Without glasses, you can’t earn.
2. Watching Short Videos
   • The primary way to earn in Cheelee is by watching short videos. The higher the tier of your glasses, the more you can earn.
3. Referring New Users
   • You can earn extra tokens by participating in the referral program.
4. Other Activities
   • Additional rewards are available through daily tasks, lootboxes, posting videos, and boosting content.
5. Burning Mechanism
   • Glasses have endurance (e.g., 100). When the endurance reaches zero, the glasses break, and you’ll need to buy a new pair using LEE tokens.

How to Earn and Withdraw?

1. Earnings
   • Rewards depend on the type of glasses you use. If you only use the free glasses, your earnings will be limited.
2. Withdrawals
   • You can withdraw your earnings via GCash or Maya, but transaction fees are high:
     • 85% fee for free glasses.
     • 30% fee for premium glasses.

Pros and Cons

Pros

1. Reward System
   • The app has clear income sources such as advertisements and NFT sales. Seventy percent of ad revenue goes to users, while 30% is used for project enhancement.
2. Burning Mechanism
   • Glass durability helps control the token supply, preventing oversupply.
3. Sustainable Measures
   • Time-limited rewards help maintain the app's economy.
4. Future Enhancements
   • According to the roadmap, they plan to add live streaming, monetization tools, and other features for content creators by 2025.

Cons

1. High Transaction Fees
   • The 85% withdrawal fee for free users and 30% fee for premium users are excessively high.
2. Requires Investment
   • You need to buy higher-tier glasses to withdraw and earn substantial amounts.
3. Limited Conversion Options
   • There is no direct conversion from LEE tokens to USDT or BNB. Withdrawals are only possible through GCash and Maya.
4. Reports of Blocked Accounts
   • Some users have reported being blocked or unable to withdraw. Cheelee claims this is due to their anti-fraud system, so avoiding multi-accounting or using automation tools is crucial.

Sustainability Analysis

The Cheelee App has mechanisms that could support its sustainability, but there are challenges as well:

1. Strengths
   • Diversified income sources: advertising, NFT sales, and transaction fees.
   • Burning mechanism and time-limited rewards help prevent token oversupply.
2. Weaknesses
   • It remains heavily dependent on new users and NFT buyers.
   • High fees and limited withdrawal flexibility may discourage new users.
3. Future Potential
   • If they fulfill their roadmap and attract content creators, the app may boom. However, without sufficient demand, the token value and rewards system could collapse.

Conclusion

The Cheelee App is a legitimate platform with potential for earnings, especially if you’re willing to invest in NFT glasses. However, the high transaction fees and reports of blocked accounts warrant caution.

If you’re interested in watch-to-earn platforms, this might be worth trying, but keep in mind the risks involved.

What about you? Have you tried the app? Was it worth it, or do you think it’s a waste of time? Share your experiences in the comments to help others decide!