Deep Dive
1. Major Unlock Event (11 August 2025)
Overview:
Cheelee unlocked $88.87M worth of CHEEL tokens (~20M tokens) as part of a broader $653M industry-wide unlock wave. This represented ~14.6% of its circulating supply at the time, one of the largest proportional unlocks in August.
What this means:
The unlock is bearish short-term due to increased sell pressure risks, especially with CHEEL already down 34% over 90 days. However, if tokens are staked or used for platform rewards (as in July’s unlock), it could stabilize prices by aligning incentives. Historical data shows altcoins often dip 10-25% post-unlock (Cryptopotato).
2. Trade-In Upgrade Launch (12 August 2025)
Overview:
Cheelee introduced a Trade-In system letting users exchange older NFT glasses for upgraded models, compensating them in $LEE tokens. A contest accompanied the launch to drive participation.
What this means:
This is bullish for ecosystem activity, as it encourages user retention and reinvestment. By rewarding upgrades, Cheelee aims to boost platform metrics like daily active users – critical for sustaining token utility amid unlocks (Cheelee Global).
3. July Unlock Aftermath (10 July 2025)
Overview:
Cheelee released 2.67M CHEEL (~$13.4M) primarily as user rewards. Despite initial fears, prices stabilized within two weeks, suggesting demand absorbed the supply.
What this means:
The neutral outcome highlights Cheelee’s ability to channel unlocks into engagement tools rather than market dumps. This precedent could mitigate August’s larger unlock impact if rewards drive new users (Bitrue).
Conclusion
Cheelee’s August unlock tests its tokenomics amid a feature push to retain users. While dilution risks loom, strategic reward mechanisms and platform upgrades could offset selling pressure. Will user growth outpace supply inflation in Q3? Monitor daily active addresses and exchange inflow data for clues.