Pre-launch of Chingari $GARI beta testnet for 500 community members in December 2021, before the mainnet debut this week.
Moreover, it will include a native digital asset ($GARI) and a cryptocurrency wallet.
Chingari App
The Chingari user interface is similar to TikTok, Instagram Reels, and YouTube Shorts to focus on short-timed video content.
Now, it has over 35 million monthly active users and is the country’s most popular mobile app on Google Play.
On TikTok, viewers recognize creators for their entertainment, including lip-syncing, belly dancing, comedy cartoons, and fashion advice.
Also, a $13.37 million Series A continuation on January 17 this year followed a $40 million ICO on November 4. Furthermore, a Chingari official gave Cointelegraph an inside peek into how the $GARI token will benefit creators and fans.
According to the team member, it will connect with counterparties, cast governance votes, and increase platform engagement and user base.
The goal is to empower all Chingari App users to contribute to the GARI Token’s social economy. Additionally, this means artists can manufacture videos, sell them as NFT, and get GARI. According to NDTV, the government intends to regulate digital assets rather than outright abolish them.
Sustainability of the Digital Rupee
India opposes the legality of Bitcoin and Ethereum. Instead, it concentrates on the sustainability of the digital rupee, a central bank-backed digital currency.
Chingari’s representatives described how the $GARI asset would function as a governance token to promote true decentralization. For two weeks, the GARI token price bounces between $0.252 and $0.685. Last week, the asset achieved trading status on multiple major exchanges, including FTX, Kucoin, and Huobi.
Everyone who used the Chingari app during the airdrop campaign got 100 GARI tokens.
This is one of the most significant airdrop efforts ever, with almost 5 million tokens set aside for the community.
