Cellula, a blockchain gaming platform backed by OKX Ventures and Binance Labs, is securing its prominence within the decentralized finance world, lately outperforming each different protocol when it comes to 24-hour income.
Knowledge from Defi Llama exhibits that Cellula generated an astonishing $179 million in 24-hour income as of November 21, placing it forward of different high protocols resembling Tether, Solana and Raydium.
Protocol prices | Supply: Defi Llama
In accordance with knowledge from Defi Llama, roughly $8.95 million of it will instantly profit holders. Nevertheless, Jito, a liquid staking protocol energetic on Solana, follows intently behind with $15.55 million in charges and $621,829 in income.
In the meantime, stablecoin chief Tether recorded $13.37 million in charges, equal to its income. Raydium, a Solana-based DEX, generated $12.47 million in 24-hour charges and $811,337 in income, whereas Solana itself produced charges price $11.84 million in the identical time-frame.
What’s Cellula?
Launched final 12 months, Cellula is a blockchain-based gaming and asset distribution platform constructed on compatibility with Ethereum Digital Machine. The mission raised $2 million in a pre-funding spherical in April this 12 months, culminating within the launch of the mainnet.
It makes use of a singular digital Proof-of-Work consensus mechanism, which integrates recreation principle and Conway’s Recreation of Life rules, in keeping with the web site.
Curiously, this design allows the creation and administration of BitLife, digital on-chain digital entities which might be central to the ecosystem. Since customers have the power to mine and work together with BitLife, this strategy helps to mix DeFi and gamified engagement.
How does vPoW work?
Cellula has demonstrated a dedication to innovation. A key achievement was the introduction of the programmable incentive layer three months in the past, which stimulated the issuance of belongings inside the EVM.
The initiative included the distinctive vPoW mannequin, including rules from Conway’s Recreation of Life and Recreation Concept.
Cellula’s vPoW permits customers to take part by creating and managing BitLife entities from conventional mining as a substitute of counting on power-intensive {hardware}, the weblog put up mentioned.
These entities generate rewards and nourish the ecosystem. The vPoW system prioritizes accessibility because it permits customers to take part with out costly tools. This makes the mechanism cheaper to make use of.
Nevertheless, its effectivity, just like the PoW consensus, is but to be decided.
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The Cellula ecosystem
Cellula’s ecosystem consists of staking mechanisms, governance fashions and a gamified asset issuance course of. Curiously, customers can purchase CELA tokens, which perform as each staking rewards and governance instruments.
Members who want to mine BitLife can even accomplish that by strategies resembling combining digital belongings or buying them by in-game shops.
Achievements and initiatives
Amid continued progress, Cellula lately achieved important milestones along with its latest efficiency in compensation. This month, it achieved a top-four place in BNB’s Ketengas subsidy program for 2 months in a row.
Once more within the High 4!
I’m completely satisfied to share that Cellula has achieved 4th place within the BNB Chain Fuel Grant Program for the second month in a row!
An enormous shout-out to BNB Chain(@BNBCHAIN) and our superb neighborhood for making this achievement attainable. The journey continues! #Cellula… https://t.co/PdL6zEfjOk
— Cellula (@cellulalifegame) November 20, 2024
Moreover, Cellula lately introduced that it has partnered with LBank Alternate, a transfer that has expanded its attain.
Cellula
LBank
We’re excited to announce our partnership with LBank(@LBank_Exchange), probably the most trusted and progressive exchanges, and have fun our latest itemizing!
With LBank’s distinctive international attain and fame for supporting high quality initiatives, we’re assured… pic.twitter.com/pRvnmbZs49
— Cellula (@cellulalifegame) November 19, 2024
The platform has additionally obtained accolades for its contributions to blockchain innovation. In September 2024, Cellula was honored with the Innovation Excellence Award through the Catalyst Awards organized by BNB Chain.
This recognition adopted its earlier triumph on the ETHShanghai 2023 Hackathon, the place it received the “Layer-2 & On-chain Gaming” award.
Cellula’s consumer base has expanded impressively, securing the highest spot in BNB Chain’s consumer and transaction progress, with over 1 million BitLife entities because the final replace in August 2024.
6 months is simply the snap of a finger, however look how far we have come!
Chosen by @BinanceLabs Incubation Program
— Cellula (@cellulalifegame) August 23, 2024
To assist the expansion of the ecosystem, the platform launched a month-to-month token burn initiative in November 2024 to cut back the circulating provide of tokens. The inaugural burn eliminated greater than 1.6 million CELA tokens, representing 12% of the whole tokens dropped.
Month-to-month $CELA Burn Announcement
Beginning November 18, all accrued $CELA in charging charges shall be burned on the 18th of every month.
Particulars of the primary fireplace:
Quantity burned: 1,683,104.3 $CELA (12% of whole airdrop claimed)
Return deal with for charging prices: … pic.twitter.com/pDieRFsaym— Cellula (@cellulalifegame) November 18, 2024
Regardless of its spectacular progress, Cellula faces potential challenges. The platform’s complicated mechanisms could deter much less tech-savvy customers, and scalability points could come up as adoption will increase because of its rise.
Additionally, sustaining the financial mannequin whereas sustaining consumer rewards shall be essential to its long-term success. Whereas the protocol’s sturdy neighborhood assist and options present a basis for addressing these boundaries, solely time will inform how successfully it could accomplish that.
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