Image source: GARI
Indian-based short video sharing app, Chingari announced the launch of its native token, $GARI, on six top centralized crypto exchanges following a successful $15 million Series A funding round led by Republic Capital. The latest move sets the token as the first ever to be listed on Huobi Global, FTX, KuCoin, Gate io, OKEx, and MEXC Global simultaneously. According to the statement from the team, $GARI will be readily tradable with multiple crypto pairs including USDT, BTC, ETH.
The listing opens up the token to new markets and investors with the six exchanges totaling a combined daily trading volume of over $10 billion. With each of the exchanges ranking in the top 30 largest exchanges, $GARI’s liquidity and value could soar higher. Additionally, over 30 million monthly users currently on the “Indian Tiktok” app will have a deep pool of liquidity to exchange, buy and sell their $GARI tokens.
Showing his excitement at the latest string of listings for $GARI, Chingari CEO Sumit Ghosh said,
“For the first time in the history of blockchain, an app will onboard millions of users on-chain from the day of its launch. The Chingari and $GARI teams and the entire community are super excited about its launch and listing!”
Chingari’s video-making app aims to revolutionize Web3 and welcome the metaverse through the $GARI token. As the largest social media app on Google Play Store in India, ahead of Tiktok, Instagram and Youtube, the $GARI token helps millions of people in South Asia to embrace cryptocurrency and create videos at the same time.
Built on Solana, Chingari’s platform offers lightning-fast transaction times and minimizes the transaction fees giving investors an efficient platform to set up their e-commerce spaces. Additionally, the $GARI token also acts as a social token that empowers creators to build new economies in the metaverse. Users on Chingari can use the token to sell physical merchandise, create non-fungible tokens (NFTs) and enable fans to fund their favorite artists. Simply, the more a user participates in the video-creating app, the more $GARI token rewards they get.
As per OKEX’s announcement, the $GARI token sale will go live on 18th January 2022 – giving priority to South Asian users. GARI token will be available exclusively for South Asian users of OKEx from India, Pakistan, Nepal, Bhutan, Sri Lanka, and the Maldives.
The Allotment Session will go live at 4:00 (UTC) with a maximum allotment of 7500 GARI per person. Soon after, the GARI spot trading pairs will be made available on OKEx. Once live on OKEX, every investor across the world will have access to buy and sell the token.
Finally, traders will be able to buy and sell $GARI tokens on Huobi Global, FTX, KuCoin, Gate, OKex, and MEXC Global from 13:00 UTC on January 18, 2022.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.