What is GARI?
GARI is a crypto utility token on the leading web3 social network i.e Chingari, with a combined community of more than 160 million users. GARI’s introduction as a social utility token for Chingari network participants will give them governance authority over future platform developments and product roadmap through the Community Reserve and create a circular economy.
Chingari’s native token GARI enables short-form video creators to monetize their content on the blockchain. GARI token has received great enthusiasm from the community with over 775k on-chain GARI holders in just six months since launch. It has also become the top 3 Project on the Solana blockchain in terms of the number of holders.
GARI’s multi-utility-based features and benefits are integrated as follows:
- GARI Mining Program
GARI was introduced as a social utility token for the participants of the Chingari web3 social network i.e creators and viewers. It’ll give them governance authority over the future platform developments through the Community Reserve and create a circular economy. Being distributed to the contributors for the platform value they created, GARI on the other hand benefits from the value of the network itself. Distribution of the tokens to the contributors will be done through a process of ‘Gari Mining’ and contributors will be known as “Miners”.
As the creators and users increased multifold on our platform, we are now enabling rewards features in the Chingari app under the GARI Mining program that will incentivize participants for social engagement on Chingari. It is an extensive Contribution-based program where the users on Chingari are incentivized for participating in the creator economy by contributing to the ecosystem through creating videos and engaging in others’ videos.
Our on-chain user base on 12th June 2022 was 600K i.e. on the date when Mining started and right now we have a user base of 775K users. We estimate that the majority of the users are here to Mine GARI tokens by contributing to the system and this is the program driven by Community. We have daily active on-chain Miners of 100K as of 11, Jule 2022 and pretty soon we will be reaching 1M activated wallets in the coming days.
Here are some resources you may want to refer to:
- GARI’s journey to 500K wallets
- 5 Steps to Earn GARI Tokens Risk-Free WITHOUT Investing Your Money
- The Gateway to earning GARI tokens
- Multiply your daily GARI earnings with GARI Badges
- FAQs
As of today, here’s the leaderboard of the top 50 earners from the GARI Mining Program.
- Chingari Audio Rooms
We released Audio Rooms in April 2022 whose objective is to provide a platform for creators to interact with their followers/fans. How can one maximize using Chingari Audio Rooms?
🔥Creators & their followers can collab to host audio interactive rooms
🔥Direct notifications to followers from creators
🔥In-app gifting option where users can send virtual gifts
🔥Special effects & themes for a personalized experience
🔥Infinite users in a single audio room
The growth metrics on Audio rooms have been remarkable.
🔥The users on audio rooms have increased 2x.
🔥Users are re-visiting the rooms, and their number has been increased by 4x which indicates that Audio rooms is getting strong retention
🔥The audio minutes spent by users have been increased by 3x, showing that the usage of Audio rooms is rising
🔥Gifting to the owner of the rooms has been increased by 1.5x, bringing in more support to the creators.
(Data between 1 April and 1 July 2022)
- What’s the road ahead in the near short term?
i) vNFT Marketplace — Each video published on the Chingari web3 social network will be a vNFT (video NFT). The marketplace will allow participants to trade vNFTs and receive a shared revenue from creator engagements from GARI Mining earnings.
ii) Live Streams — Live video streams by creators which can monetize their time spent with their audience/followers/fans.
iii) Mining Program Upgrade — We are continuously upgrading the GARI Mining program to make this process much more gamified. In this way, participants can be rewarded better on the Chingari social network.
iv) Global Expansion — We have launched our feed in the USA, UAE, Indonesia, Turkey and worldwide. We are en route to onboard 1 billion users and steadily moving toward the objective with over 160 million app downloads and over 775K wallets activated. As per Solscan, the GARI token ranks 3rd for on-chain holders on Solana. Filter by holders here.
v) Staking and DAO — We have been working on staking contracts for a while now and we are in the final sprints of releasing the GARI token staking on the Chingari mobile and web app. The staking will launch alongside the GARI DAO governance by thoroughly auditing the contracts from multiple 3rd party security auditors
Following are the tokenomics as per our whitepaper
Following is the Circulating Supply as of July 7, 2022
Locked Tokens and their Vesting
# Few of the investors in seed and private rounds have their token vestings beginning from 2years after their investment date instead as per the SAFT.
Following are the wallets designated for each of the token pools and everyone can check their balance onchain on a regular basis. We review these balances on a monthly basis and update them accordingly here as mining, and airdrop-related are distributed on a regular basis.
* There are a few investors who provided incorrect wallet addresses/other chain addresses and changed wallet addresses. These will be updated and locked as we get more details from investors.
Please note:-
No tokens have been sold beyond the Public Sale pool as available in WhitePaper — 200M.
In the whitepaper, we have also highlighted that, for liquidity 200M-300M GARI will be available by end of Year 1 in circulation.
SAFT0 tokens are nothing but unsold tokens after Republic sale, SolRazr Sale from PublicSale pool of 200M Tokens.
Reach out to us if you have any clarifications:
You’ll find all the official links within this link
