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Chingari to Offer $GARI on Solana-based SolRazr


www.financemagnates.com 09 December 2021 11:12, UTC
Reading time: ~2 m

Big things are happening on the blockchain, no least for one major short video streaming service that has taken the Indian market by storm. Chingari has moved fast to fill the gap left behind following Chingari’s ban from that region.

 

It currently boasts over 85 million app downloads and over 32 million active users.

 

For Chingari the last several months have been a whirlwind, especially in terms of funding rounds.

 

Following a $12.3 million funding raise from their native $GARI token on the Republic platform, and a private fund raising round which drew $19 million from a select group of funds and investors, now this giant social media company has just announced its own IDO and it seeks to smash records.

 

Wednesday 15th plays host to what Chingari hopes will be the largest ever IDO or Initial DEX offering ever to go down in history.

 

An eCommerce ecosystem on the blockchain

 

The IDO will see Chingari offering out their much sought after $GARI tokens to the public via the SolRazr launchpad. SolRazr are also excited about the launch of India’s first ever Indian IDO. They had this to say, 

 

“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 is based on the much talked about Solana network, which is lauded for its speed, security and the competitive fees it takes.

According to Solana, "Collective ownership of social platforms like Chingari has the potential to upend the creator-platform relationship and unlock new monetisation models for creators. Solana blockchain's high throughput, low transaction fees, and fast finality make it a great foundation for platforms targeting global adoption."

Why Chingari is unique

Chingari’s unique proposition, which has seemingly had investors excited thus far, is for the fact that it adopts a different model from its competitors including YouTube and Tik Tok.

That is the fact that it incentivizes both its creators, and its users, those who watch the videos. Users redeem $GARI tokens by simply watching videos and engaging with their favorite content creators, in what is a unique model in this arena.

Those interested in getting hold of $GARI tokens are encouraged to visit SolRazr from the 15th December for just one day.


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