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  • Gari Network
  • Gari Network
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Gari Network Price (GARI)

₹ 3.1470000000 5.32 %

Low : ₹ 2.7600 High : ₹ 2.9700

Market Cap

₹1.28 B

6.4445 %

All Time High : ₹73.1900

All Time Low : ₹0.7778

Volume

₹134.43 M

Circulating Supply 434774000
Max Supply 991070441

Gari Network (GARI) Price Live Chart

Gari Network (GARI)

Chingari, India's rapidly expanding short-form video application, has emerged as a leading Web3 social network. It facilitates the monetization of short-form video content through blockchain technology using the GARI token. Chingari boasts millions of daily users and offers a platform for users to produce and share short videos globally. Users are rewarded with GARI tokens each time they create content on Chingari. GARI is introduced as a social token designed for the Chingari creator community, granting them governance authority via a DAO (Decentralised Autonomous Organization) to influence future platform enhancements. This initiative aims to establish a circular economy, wherein contributors receive GARI tokens in recognition of the value they contribute to the platform. Additionally, GARI's value is intrinsically tied to the network's overall growth and success.


Founders

Sumit Ghosh holds the positions of founder, chairman, and CEO within the Gari Network. The project's co-founders encompass Deepak Salvi, Biswatma Nayak, and Aditya Kothari. The release of the whitepaper occurred in September 2021, and the total supply of GARI tokens is capped at one billion.


What makes it unique?

The Gari token functions as the official cryptocurrency within the Chingari ecosystem. It serves both as a utility token and a social token integrated into the Chingari app. With a maximum supply of 1 billion tokens, approximately 48 million tokens are currently in circulation. The Gari token holds multiple purposes, encompassing:


In-App Purchases: Users employ Gari tokens for in-app transactions such as influencer marketing, access to exclusive content, participation in live streams, and engagement in audio rooms.


Project Products and Incentives: Gari tokens are utilized for staking, tipping, and making payments for various project-related products and incentives.


Governance: The Gari token is leveraged for DAO governance, enabling token holders to partake in voting for potential development initiatives and the strategic direction of the ecosystem.


Token-Gated Access: Gari token holders can access exclusive content on the Chingari platform by staking their tokens within creator pools.


Exclusive NFT Purchase: Gari token holders have the ability to purchase exclusive NFTs (Non-Fungible Tokens) on the Chingari platform.


The Gari token operates on the Solana blockchain, chosen due to its rapid transaction speeds and cost-effectiveness. Adhering to the latest SPL standards, the Chingari Solana token signifies the currency of Chingari and an instrument that enables participation in governance and the shaping of developmental processes.


Network security

Blockchain technology plays a pivotal role in the functioning of the Gari Network, serving as the foundation for its blockchain-powered social network infrastructure. The Gari token operates on the Solana blockchain, a deliberate selection due to its remarkable transaction speed and economical transaction fees. This integration of blockchain technology significantly bolsters the security and transparency of transactions within the Gari Network.


To ensure the security of its operations, the Gari Network has instituted a responsible disclosure policy, which encourages the identification and reporting of potential system vulnerabilities. This proactive approach aids in promptly addressing security issues before they can be exploited by malicious entities.


The Gari Network further ensures security through its token-gated access feature. Gari token holders can access exclusive content on the Chingari platform by staking their tokens on creator pools. This demonstrates the Network's commitment to safeguarding the staking process and securing user assets.


In terms of governance, Gari token holders have the opportunity to actively participate in the DAO (Decentralised Autonomous Organization) governance. This empowerment enables them to partake in voting processes concerning potential developments and the overarching strategic direction of the ecosystem. This emphasizes the Gari Network's dedication to upholding both security and transparency in its governance procedures.


Recent developments 

Indian social media platform Chingari is expanding the "play-to-earn" concept from video games to social media through its GARI Mining program. With over 5 million daily active users and 40 million monthly active users, Chingari aims to allow users to earn cryptocurrency by interacting with the app. Users can earn GARI tokens by creating content, watching videos, liking, sharing, and more. The app will distribute $12 million in user rewards annually, with a daily pool of 50,000 GARI tokens, of which 5,000 are reserved for daily logins. Users can also purchase NFT GARI Badges to multiply their earnings, with badges ranging from basic to diamond. Chingari's goal is to create a democratized creator economy, reducing reliance on sponsored posts for income. The GARI token was launched with Bollywood actor Salman Khan's endorsement, raising $16 million through an IDO.


Future developments 

Not available 

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