Tiktok was a success with billions of users around the world. Short video sharing, powerful matching algorithm are the first things come to mind when people talk about TikTok. But in the world when more and more people become sensitive with their data, privacy grows into a need, a want in the market. Good thing is that an app will be ready to adapt and provide to the market. Following the trend of web 3.0, data security, users centric platform and more, Gari is taking over the market.
What is Gari?
The full name is Chingari, it’s basically a India version of Tiktok with promising to introduce people to web 3.0 and its perks. The app is based on crypto-powered creator economy and it’s enabling short-form video creators to monetise their content on the blockchain through the GARI token. Chingari is India’s fastest growing short form video app with millions of Daily Users. The app lets users create and share short form videos with the world. Everytime you create a video on Chingari, you get rewarded with Gari Tokens. We introduce GARI as a social token for the community of Chingari creators that will give them governance authority over the future platform developments through a DAO 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 network itself.
The Chingari app is a platform that makes ‘dreams come true’ for the young and aspiring global talents by helping them light their inner ‘talent ki Chingari’. With the rising tide of the ‘Make in India’ campaign, Chingari is proud to be the first ever truly Indian Short-Video Platform that was recognized with an ‘Atmanirbhar Bharat Award’
Chingari Platform is an extension of the Chingari ecosystem into the blockchain space. The goal is to empower both creators and viewers with technological and financial instruments to interact directly with each other and have control over the long-term direction of the social economy impacting the platform and the product.
The platform interconnects through the Chingari App and GARI token, opening to the app users a wider blockchain world where they directly control their assets and can use their tokens both in- and out of the app to connect and transact with their counterparties, place governance votes, and catalyze platform engagement and user base growth.
Tokenomics
Gari is built on Solana network, the token will give content creators the opportunity to publish short-form videos and earn $GARI tokens as a reward, while forming close bonds with the social platform’s community.
The holders will have governance power with activities like voting, make proposals on changes that could be introduced to improve the social media platform. Users can earn $GARI tokens when they create short content videos on the Chingari app and share it on the same platform for fans to view. For every video a creator designs, they are rewarded with $GARI tokens. Notably, the media platform is real-time shopping enabled. This feature will allow viewers to pay for products, goods and services advertised in videos seen on the platform using $GARI token.
DAO treasury: 25%
Staking rewards: 15%
Airdrop: 5%
Public Sale: 20%
Private sale: 10%
Seed round: 10%
Advisors and team: 15% (may buy back $GARI and burn)
The Chingari IDO on SolRazr
- Token: GARI
- Accepted: USDC (SPL Token)
- IDO Token Price: $0.4
- Total number of tokens: 40M
- Total IDO Pool size: $16M
- SolRazr Community Pool Size: $4M (Requires $SOLR to be staked)
- Number of tokens: 10M
- Token Price: $0.4
- Vesting terms:50% unlocked at TGE and 50% unlocked after 12 months
- IDO opens: Dec 15, 2 PM UTC
- IDO closes: Dec 16, 2 PM UTC
- This is only open for those who have staked $SOLR. Stake NOW!
- Open Community Pool Size: $12M
- Number of Tokens: 30M
- Token Price: $0.4
- Vesting terms: 33.3% unlocked at TGE and 66.7% unlocked after 12 months
- IDO opens: Dec 16, 2 PM UTC
- IDO closes: Dec 18, 2 PM UTC
Vesting schedule
Features of the app
Mission is to institutionalize the space, and promote the growth and advancement of the underlying ecosystem and technology behind digital assests and blockchain. The app itself is a basic social media platform but for web 3.0 era. This means data security, users centric, advertising, and content creating both entertainment and formal news.
Chingari Platform is an extension of the Chingari ecosystem into the blockchain space. The goal is to empower both creators and viewers with technological and financial instruments to interact directly with each other and have control over the long-term direction of the social economy impacting the platform and the product. The platform interconnects through the Chingari App and GARI token, opening to the app users a wider blockchain world where they directly control their assets and can use their tokens both in- and out of the app to connect and transact with their counterparties, place governance votes, and catalyze platform engagement and user base growth.
The platform
There are 4 main key features:
- Governance: Defining future direction of the platform
- Unique interactions: Buying and unlocking in other ways exclusive content and services
- E-tailing: Direct buying of goods and services from a video or creator profiles
- Creator Economy: Tipping creators with tokens, staking creators to support their work
The app has short videos like Tiktok, also with multiplex (movies paid by fiat or GARI), messaging.
The platform will run two groups of mechanics:
- Transactional mechanics facilitate an exchange of goods & services
- Collaborative mechanics help users coordinate around a common goal or agenda, such as supporting a particular creator or defining the future of the platform.
The platform also facilitates donation feature like Patreon where users can donate to their favorite content creator and reverse. Also trading NFT is possible.
Roadmap
The current roadmap is from August – November 2021. Before that, from Q2 2020, they have completed basic platform development and fundraising from private with $15M. And beyond that in 2022, hackathons by Solana will be organized, Integration of the best developed solutions based on the proposals upvoted via Chingari Community Reserve.
Team and partners
The team has raised millions of dollars from 2020 with many prominent and popular investors. Specifically in Q3 2020, $1.4M was raised through seed round. However, in Q4 2020, an astonishing $13M was raised with different and nearly same amount of investors like White Star Capital, Ideal Ventures, Republic Capital,… Moreover, coming to Q3 2021, they attracted very big names in crypto investment world which are Alameda, Kraken, Coin Fund, NGC Ventures, BlackPine,…raising $15M by far the most successful private token fundraising.
The team is comprised of many talented individuals who have years of experience in blockchain tech, programming, and technology business management. Especially, they have someone who is a celebrity in India. That makes Marketing and promotion an relatively easy job for India market. Experience from working for big names like Uber, Nasdaq, Gojek,… they have truly gained insight to the market and now develop Gari.
Thoughts on Gari
First of all, Tiktok has recently been banned in India due to privacy concern; therefore it left a void that needed to be filled. Gari is the quickest to replace that gap and soon providing the same but better service for billions of users in India. This promises the perks of web 3.0 with data security, users-based platform, and free flow of cryptocurrency economy. The platform is better than Tiktok because it cares about its users data. Users watch ads and get paid in Gari. Content creators make videos and NFT merchandise and get paid in Gari. Advertisers want their ads up, will have to pay. It’s simple as it is and this platform provides a fair environment for users connecting with advertisers and independent content creators. Much like Brave or Swash is doing.
Secondly, the team has raised more than $30M over past 2 years with many popular investors behind them. This can be considered legitimate as their project is taking international stage and growing out of India. Of course, within over billions users proven to be successful, time will tell its potential over next years. The key word here is decentralization as the world is shifting towards more advance web 3.0
Within a very short period, a matter of days, they saw a remarkable 10 million app downloads and that number is still growing fast. As of October 2021, Chingari has 85 million downloads; and is rapidly speeding past market leading social media platforms like Reddit, Twitter, and even Facebook, in India. Also, by looking at their whitepaper, one can tell the extensive market research of the team. With various types of data, statistics mentioning why social media is lucrative business with billions of users and hours of using, the team has met the demand in the market. Not just that, they also pointed out the issues with current social media and especially its rivals, therefore a solution is needed. Gari is a decent and potential project that should be checked out now if not want to miss the trend.
