Cellula led DeFi revenue on Nov. 21 with $179 million in 24 hours, surpassing Tether, Solana, and Raydium.
On November 21, Cellula achieved an extraordinary $179 million in 24-hour revenue, surpassing other prominent protocols such as Tether, Solana, and Raydium, according to data from Defi Llama.
Holders receive approximately $8.95 million of this sum directly, as indicated by data from Defi Llama. Jito, a liquid staking protocol that operates on Solana, follows in a distant second place with $15.55 million in fees and $621,829 in revenue.
In the meantime, Tether, the stablecoin leader, generated $13.37 million in fees, which was equivalent to its revenue production. Raydium, a SOLANA-based DEX, generated $12.47 million in 24-hour fees and $811,337 in revenue, while Solana itself generated fees worth $11.84 million during the same period.
What is Cellula?
Cellula, a blockchain-based gaming and asset distribution platform, was established last year and is designed to be compatible with the Ethereum Virtual Machine. In April of this year, the initiative completed a $2 million pre-funding round, which culminated in the launch of its mainnet.
According to its website, it implements an exclusive virtual Proof-of-Work consensus mechanism that incorporates game theory and Conway’s Game of Life principles.
It is intriguing that this design enables the establishment and supervision of BitLife, which are simulated on-chain digital entities that are indispensable to its ecosystem. This method integrates DeFi and gamified engagement by allowing users to interact with BitLife and “mine.”
What is the mechanism of vPoW?
Cellula has demonstrated a dedication to innovation. The implementation of its programmable incentive layer three months ago was a significant accomplishment, as it significantly increased asset issuance within the EVM.
The initiative integrated its distinctive vPoW model with principles from Conway’s Game of Life and Game Theory.
According to its blog post, Cellula’s vPoW enables users to engage in traditional mining by establishing and overseeing BitLife entities, rather than relying on energy-intensive hardware.
This ecosystem is powered by these entities, which also generate rewards. The vPoW system emphasizes accessibility by enabling users to participate without the need for costly apparatus. This results in a more cost-effective operation of the mechanism.
