As a Solana-powered social digital currency, the GARI token will offer unique value to the 75 million unique users of the Chingari platform.
SolRazr, one of the pioneering platforms for Initial Decentralized Offerings (IDOs) built on the Solana blockchain is set to host Chingari token sales on the 15th of December, 2021. According to a press release shared with Coinspeaker, users who wish to participate in the IDO will not need to register for Whitelist, one of the major bottlenecks in crowdfunding today.
The Gari Token is billed to take a central spot in the Chingari ecosystem as it will open unique economic capabilities to all of the platform’s stakeholders. Chingari is an Indian social platform that is known for its educative and entertaining short-form videos. The app has grown in importance over the years and currently ranks as the second most popular social app in India after Instagram according to data from SimilarWeb.
Chingari welcomes over 32 million monthly active users and boasts of more than 85 million downloads to date. There are four distinct stakeholders that keep the Chingari ecosystem functional and these include content creators, viewers, advertisers, and developers. The GARI token will be indispensable to each of these stakeholders when it becomes fully functional.
“We are excited to launch the $GARI token on SolRazr. This will be the biggest IDO on any launchpad in the crypto sphere. $GARI will help creators on Chingari create their e-commerce ecosystem through physical merchandise, NFTs, and raising funds from their fans directly,” said Sreekanth Kalapur, Co-Founder of SolRazr. “We made sure that the process to buy $GARI is smooth and frictionless. Users don’t have to apply for the whitelist to win the lottery. They can go straight to the IDO process,” added Vijay Kalangi, Co-Founder of SolRazr.
Chingari (GARI) Token to Offer Additional Value Post SolRazr IDO
As a Solana-powered social digital currency, the GARI token will offer unique value to the 75 million unique users of the Chingari platform. Beyond serving as a primary currency of the ecosystem, the token will aid creators to float their e-commerce areas within the Chingari app. With the token, users will also be able to develop Non-Fungible Token NFT projects and in rewarding each user’s favorite artist.
“The $GARI crypto token is developed on the Solana blockchain network. It will allow content creators on the Chingari app to create their own ecommerce area, which will include actual items, develop NFT projects, and help consumers fund their favorite artists,” said Chingari CEO and Co-Founder Sumit Ghosh. “We chose SolRazr to launch our IDO token sale as the platform is also built on Solana, and we are confident that it is the best platform to ensure a fair process and complete transparency,” he added.
The GARI Token will be very vital in launching a reward-based system that is billed to be crucial in incentivizing the creator ecosystem. Through the token issuance, Chingari has raised a series of funds through various means to develop and advance its core tenets.
“The creators are shaping the future of entertainment. With the incorporation of the $GARI reward program, the creators will further get motivated to create newer and more engaging videos on the Chingari app. It’s going to be an interesting journey hereon,” said $GARI’s brand ambassador Salman Khan.