Gari Network

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Discover Gari Network's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Gari Network?

Gari Network (GARI) is the official token of the Chingari App, India's largest short video-sharing platform. It serves as a governance and payment token, allowing users to tip content creators, purchase gifts, and participate in governance decisions. The token is integrated into various features on the app, including social commerce, social ed-tech, and social audio, and is used for NFT purchases in the marketplace. GARI aims to empower content creators and promote engagement within the community.

How is Gari Network used?

Gari Network (GARI) is a cryptocurrency designed to support short-form video creators on Chingari, a popular short-form video app in India. The token, GARI, is used within the Chingari platform to unlock various features such as video calls, audio calls, and chats across diverse categories like Astrology, Dating, and more. It facilitates real-time conversations, expert consulting, and content discovery within the Chingari community.

How do I store Gari Network?

To store Gari Network (GARI) tokens, you can use the following methods:

  1. Atomic Wallet: Atomic Wallet is a trusted multi-asset wallet that supports GARI tokens. It is available for both desktop and mobile devices. Atomic Wallet ensures the security of your private keys and provides 24/7 online support.

  2. Coin98 Wallet: Coin98 Wallet is another option for storing GARI tokens. It provides a user-friendly interface and allows you to manage your GARI tokens along with other cryptocurrencies.

  3. Gari Network Wallet: The official Gari Network wallet is also available for managing your GARI tokens. This wallet is specifically designed for the Gari Network ecosystem and provides seamless integration with the Chingari platform.

  1. Other Wallets: You can also store GARI tokens on other wallets that support the Solana and Aptos blockchains, as GARI is compatible with both chains.

When choosing a wallet, ensure it is reputable and secure to protect your GARI tokens.

How to buy Gari Network?

To buy Gari Network (GARI) tokens, you can follow these steps:

Buying Through Centralized Exchanges (CEX)
  1. Register on a CEX:

    • Go to a centralized exchange (CEX) that supports GARI trading, such as MEXC or CoinCarp.
    • Create an account by registering on the exchange's website or mobile app.
    • Verify your identity and secure your account with two-step verification.
  2. Buy Base Currency:

    • Use fiat to purchase a base currency like USDT, ETH, or BNB.
    • You can use services provided by the CEX or financial platforms like PayPal or Robinhood.
  3. Transfer Base Currency:

  • Transfer the purchased base currency to the CEX that supports GARI trading.
  • Ensure the CEX supports both the base currency and GARI trading pairs.
  1. Buy GARI:
    • Use the base currency to buy GARI in the spot market.
Buying Through Decentralized Exchanges (DEX)
  1. Choose a DEX:

    • Select a decentralized exchange (DEX) that supports GARI trading and the blockchain it resides on.
    • Ensure the DEX supports your chosen wallet, such as Trust Wallet.
  2. Set Up Wallet:

    • Download and set up the required wallet, such as Trust Wallet.
    • Register and set up the wallet, keeping your seed phrase safe and noting your wallet address.
  3. Buy Base Currency:

  • Buy the base currency (e.g., Solana) on a CEX like Binance.
  • Transfer the base currency to your wallet.
  1. Connect to DEX:

    • Connect your wallet to the chosen DEX.
    • Use your wallet address to connect.
  2. Trade for GARI:

    • Select the base currency as the payment and GARI as the coin to buy.
    • If GARI doesn't appear, find its smart contract address and paste it into the DEX.
  3. Swap:

  • Click the Swap button to complete the transaction.

Remember to always follow security guidelines and be cautious of scams when interacting with cryptocurrency exchanges and wallets.

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History of Gari Network

The Gari Network (GARI) is a cryptocurrency project that originated in India. The project was founded by four co-founders: Sumit Ghosh, Deepak Salvi, Biswatma Nayak, and Aditya Kothari. The work on Gari Network began in August 2021, and the Chingari application, which is the main product of Gari, was launched in November 2018.

Chingari is a social media app that integrates blockchain technology, allowing users to engage in real-time conversations, expert consulting, and content discovery. The app has gained significant traction, becoming one of the top 20 most downloaded applications on Google Play just two years after its launch.

The GARI token is the native cryptocurrency of the Chingari ecosystem. It serves as a governance token, allowing holders to influence the development process and vote on proposals. Additionally, GARI is used for payment services within the app, such as tipping content creators and purchasing gifts. The token is also used for NFT purchases in the Chingari marketplace.

Gari Network has received significant funding, including a seed round worth $1.4 million, a Series A funding round worth $13 million, a private sale worth $15 million, and a public sale that gathered $70 million. The token was launched on January 18, 2022, and has experienced significant price volatility since then.

The project has a roadmap that outlines its development plans, including the establishment of a developer DAO, the launch of a Web3 stack, and the integration of additional utilities such as spending GARI to book flights and hotels.

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How Gari Network works

The Gari Network (GARI) is a blockchain-based social token that operates within the Chingari ecosystem. Here's an overview of how it works:

Key Components
  1. Chingari App: Chingari is a popular messaging app with over 85 million downloads and 32 million active users monthly. It allows users to upload short videos, similar to TikTok, and share them with others.

  2. GARI Token: GARI is the native token of the Chingari ecosystem. It serves as a currency within the platform and allows users to participate in governance and influence the development process.

Monetization and Engagement
  1. Content Monetization: Creators can earn money through various means such as paid calls, gifts, and tips. The platform distributes 30% of its revenue to content creators, empowering them to create better content.

  2. User Engagement: Users can engage with content creators through video calls, audio calls, and text chats. They can also earn money by participating in these interactions.

Governance and Decentralization
  1. Decentralized Autonomous Organization (DAO): The Gari DAO allows token holders to vote on proposals, suggest changes, and earn staking rewards. This ensures that the community has a voice in the platform's development.

  2. Blockchain Integration: Chingari operates on the Solana blockchain, which provides fast transaction times and low fees. This integration enables transparent and secure transactions within the ecosystem.

Additional Features
  1. NFT Marketplace: The platform includes a non-fungible token (NFT) marketplace, allowing creators to sell unique digital assets.

  2. Gari Mining: Users can participate in Gari mining, which involves earning GARI tokens by contributing to the network.

  3. Multichain Support: Chingari supports multiple blockchain networks, including Solana and Aptos, ensuring interoperability and flexibility.

Roadmap and Development

The Gari Network has a detailed roadmap outlining its development milestones. Key achievements include the launch of the Chingari wallet, Gari mining, and the integration of additional blockchain networks.

Investment and Trading

GARI tokens can be purchased on various exchanges such as Kraken and KuCoin. The token's price is subject to market fluctuations, and investors should conduct thorough research before making any investment decisions.

In summary, the Gari Network (GARI) is a blockchain-powered social token that operates within the Chingari ecosystem. It enables content creators to monetize their work and users to engage with them in various ways, all while promoting transparency and decentralization through its DAO and blockchain integration.

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Gari Network's strengths

The token Gari Network (GARI) has several strengths that contribute to its potential success:

  1. Monetization for Platform Users: GARI enables creators and users to monetize their participation on the Chingari app, which is a significant advantage over traditional social media platforms. This feature incentivizes content creators to produce high-quality content and encourages user engagement.

  2. Successful Application: Chingari, the main product of Gari Network, has already achieved impressive results, ranking among the top 20 most downloaded applications on Google Play just two years after its launch. This success can positively impact the loyalty of the crypto community and attract more users to the project.

  3. Decentralized Governance: The Gari DAO (decentralized autonomous organization) allows users to stake their tokens and vote on critical upgrades or changes to the system, ensuring that the community has a voice in the development process. This decentralized governance structure promotes transparency and community involvement.

  1. Utility and Social Token: GARI serves as both a utility token and a social token, facilitating various in-app features such as video calls, audio calls, and chats across multiple categories. This multifaceted role enhances its value and usage within the Chingari ecosystem.

  2. Fast Transaction Times and Low Fees: As a Solana-based asset, GARI benefits from fast transaction times and low fees compared to tokens on earlier networks like Ethereum, making it an attractive option for users.

These strengths position GARI as a promising token with a strong foundation for growth and adoption.

Gari Network's risks

Gari Network (GARI) carries several financial risks that investors should consider before investing. These risks include:

  • Market Volatility: Cryptocurrencies are known for their price fluctuations, which can result in significant losses if the market moves against the investor. GARI's price can be influenced by various factors such as market sentiment, adoption rates, and regulatory changes, making it susceptible to price swings.
  • Risk Gauge Score: GARI has been classified as a moderate-risk investment, indicating that it may not be suitable for all investors, particularly those who are risk-averse.
  • Market Capitalization: GARI's market capitalization is relatively small, which can make it more vulnerable to market fluctuations and potentially increase the risk of significant price drops.
  • Trading Volume: The daily trading volume of GARI can be low, which can impact liquidity and make it difficult for investors to buy or sell the token quickly and at a favorable price.
  • Regulatory Uncertainty: Changes in regulatory policies can significantly impact the cryptocurrency market, and GARI is no exception. Uncertainty around regulations can lead to market instability and affect the token's value.
  • Competition: The blockchain and cryptocurrency markets are highly competitive, and GARI faces competition from other social media platforms and tokens. If GARI fails to differentiate itself or keep up with technological advancements, it may struggle to maintain its market position.

It is essential for investors to carefully evaluate these risks and consider their own risk tolerance before investing in GARI.

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Did Gari Network raise funds?

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Gari Network’s team

  • Sumit Ghosh: Founder, CEO, and Chairman of Gari Network, with a focus on institutionalizing the space and promoting the growth of the underlying ecosystem and technology behind digital assets and blockchain.
  • Deepak Salvi: Co-Founder, COO, and the media guy, with 20+ years of industry experience and a creative mind behind Zee5’s OTT launch.
  • Biswatma Nayak: Co-founder and CTO, with experience in building 15 social media automation tools, dating apps, and scaling them to 1M users.
  • Aditya Kothari: Co-Founder, COO, and Chief of Strategy, with a background in creating strategies to build, launch, and scale several B2C companies.
  • Noah Thorp: CTO of Gari Crypto Asset, with pioneering work on regulations-compliant crypto crowd funding and blockchain settlement networks, and experience as VP, Engineering, at Nasdaq.

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The fundamental analysis assistant for crypto value investors.

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