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What is the issuance and circulation of Cheelee (CHEEL) coins?
Cheelee (CHEEL) coins were initially issued through an ICO in May 2023, with 50 million tokens distributed to ICO participants and 40 million held in reserve by the project team.
Dec 09, 2024 at 04:08 am
What is the Issuance and Circulation of Cheelee (CHEEL) Coins?
Issuance of Cheelee (CHEEL) Coins
Initial Coin Offering (ICO):
- Cheelee (CHEEL) coins were first issued through an ICO held in May 2023.
- The ICO offered 100 million CHEEL tokens for sale, with a total fundraising goal of $10 million.
- The CHEEL tokens were sold at a price of $0.10 each, with a minimum purchase requirement of $100.
Token Distribution:
- 50 million CHEEL tokens (50%) were distributed to ICO participants.
- 25 million CHEEL tokens (25%) were reserved for the project team and advisors.
- 15 million CHEEL tokens (15%) were allocated for future development and growth.
- 10 million CHEEL Tokens (10%) were used to provide liquidity on decentralized exchanges (DEXs).
Circulation of Cheelee (CHEEL) Coins
Total Circulating Supply:
- The total circulating supply of CHEEL coins is currently 60 million, which represents 60% of the total issuance.
- The remaining 40 million CHEEL tokens (40%) are held in reserve by the project team.
Market Capitalization:
- As of [date], the market capitalization of Cheelee (CHEEL) is approximately $4.8 million.
- The market capitalization is calculated by multiplying the total circulating supply of the coin by its current market price.
Token Distribution:
- Majority of the circulating CHEEL tokens are held by ICO participants and exchange users.
- The project team and advisors hold a significant portion of the tokens for long-term development and stability purposes.
DEX Liquidity:
- CHEEL tokens are primarily traded on decentralized exchanges (DEXs) such as Uniswap and PancakeSwap.
- Approximately 20% of the total circulating supply of CHEEL tokens is available as liquidity on DEXs, ensuring sufficient market depth and liquidity for trading.
Token Burns:
- Cheelee has implemented a token burn mechanism to reduce the total circulating supply and increase the value of remaining tokens.
- A portion of the transaction fees collected from the Cheelee platform is used to purchase and burn CHEEL tokens.
- Token burns have been conducted regularly since the launch of the platform.
Future Issuance:
- The project roadmap does not currently include plans for any additional issuance of CHEEL tokens.
- However, the project team may consider issuing more tokens in the future to fund potential growth and development initiatives.
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