GARI, World’s biggest Social Utility Token announced its listing on one of world’s leading cryptocurrency exchanges, Bitrue on 12th Aug 2022. GARI is the native currency of Chingari, a short-video app that has become popular globally. The Chingari app and the GARI Network enables its participants (users and creators) to monetize their social media time and contributions through the GARI Mining program. Moreover, the GARI token has several in-app utilities and is also the governance token of GARI DAO.
Last Tuesday, we hosted an insightful Twitter Spaces AMA session with Jimmy Humania, CMO of GARI Network, to discuss what the project is all about, the benefits for the users and what’s next on their timeline.
For those who missed the event, we’ve got you covered , since we wrap up a highlight in this article so everyone can read and understand more about the project and its potentials.
Listen to the Twitter Spaces AMA recording here.
Let’s check the Q&As between Bitrue and GARI Network below
What is GARI Network?
GARI Network is the leading web3 social network which has enabled users or creators to be involved in the creator economy. The reason is that we’ve seen the growth of content creators across all platforms, but we also believe that crypto is a whole new level for all these content creators. You can publish videos, engage on the creators’ content, spend time in-app, and you can earn GARI tokens.
GARI itself is the native token of Chingari. Within the GARI ecosystem, we have a mobile application named Chingari. Chingari enables short-form video creators to monetize their content on the Solana blockchain through its mining program. It’s available at the play store to download.
How does the Chingari app enable its users to monetize social media time?
A recent study was done by the World Economic Forum in collaboration with Statista.com to find that people from 16 years old to 65 years age group, spent approximately 2.5 hours or 150 minutes every day on social media. Of those 150 minutes spent on social networks, not everyone can monetize.
Chingari allows everyone to move forward and monetize their social media time from the very first day they register on the app. Once installed and signed up, you can start owning GARI tokens. In addition, after creating content, you may have the option of winning GARI tokens.
How does the GARI incentive Program work?
GARI allocated ¼ of GARI tokens from their total supply in this incentive program or what they called it GARI Mining Program. 250 million from the total supply of 1 billion GARI tokens is allocated to this incentive program for the next 14 years. This initiative was launched only a few months ago.
And what happens is every day, if a creator or user (or we called it a participant) creates or consumes video content and does all the engagements (like, share, comments, tip creators, follow people and so on), they can earn GARI tokens which we calculate every 24 hours.
We calculate the contribution score based on the engagement done by the participant. The GARI token is allocated and distributed to the participant’s Solana wallet, which is integrated within the app itself. No cost is required to activate the wallet from the participants’ side.
To launch the program, participants only need to register using a Google account or mobile number and activate the Chingari wallet. Please note that the KYC verification is NOT mandatory to be a part of the GARI mining program.
What is a Booster NFT and how is it gamified?
A booster badge is an NFT within the Chingari app. Holding an NFT booster will give you a premium subscription to the GARI Mining Program. All GARI Mining participants (users and creators) are eligible to earn GARI tokens based on their contribution score.
For example, if participant A earns 10 GARI tokens daily, and then if the purchase a booster NFT badge, they would have the opportunity to earn 2x to 10x more GARI tokens daily.
To gamify the whole booster badges, there are different levels, from level 1 to level 5. Level 1 is 2x, which means you will get 2x the amount of GARI tokens if you hold level 5 booster is 10x at the moment but we’ll plan to scale that up as we go.
If you look at our Twitter notification or on Telegram, we have actually updated the app version, so you’ll be able to see a leaderboard of the top 50 or top 100 content creators who are actually earning GARI tokens through this program, and the reason why they’re earning more is because they hold the booster NFT badges.
How to scale the network to maximize daily incentives?
Chingari app has a multi-level referral program called GARI Network Score and it isn’t the single-level referral program as commonly used apps .
For example, if you use the app every day, and you are already enrolled into GARI mining program. By activating your Chingari wallet, you will receive 5 unique invitation codes that can be used to invite 5 guests, friends, colleagues, or anyone. Now if these 5 people are invited to register on the Chingari app, you will earn Gari tokens, similar to mining.
You create your own network on Chingari’s social network, and Chingari app is the leading web3 social network with millions of users. This is how you amplify your network. Meanwhile, you can earn GARI tokens from your network.
For more detailed information, please refer to this medium article
What are some of the benefits of Network Score?
The Network Score is by default a partner program for everyone. As mentioned before, you can earn GARI tokens passively from your network once you onboard someone into the GARI Mining program. You can promote the unique invite codes to your own communities or other content creators so as to broaden your network and thereby start earning more GARI tokens once they join the GARI mining program.
What is Video NFT (vNFT) marketplace ‘Creator Cuts’ and its benefits ?
Creator Cuts is a marketplace where content creators could list their Chingari videos as an NFT. Holders of these NFTs from specific content creators will earn 10% as a reward until perpetuity from each of the content creators whose videos they own on the GARI ecosystem.
Creator Cuts is launched to enable short-video content creators to benefit from the new and inclusive financial world, promotion and community management opportunities.
Also, Web3 enthusiasts can now support the creators by owning a piece of unique art.
Currently, the Creator Cuts is in the beta stage, in which GARI team will be curating high-quality or trending content within their platform, however in the near future, they or enable any content creator or anyone who publishes video on Chingari app to directly list to the marketplace with a seamless user experience.
The team will currently maintain high-quality content to limit the amount of video NFTs that people can list and also to avoid many low-quality content being listed. Terms and conditions will be applied.
Everything you need to know about Creator Cuts Marketplace, you can read in this Medium article.
How will the network become more inclusive in the near future
Let’s say we use the product, we love the product and we want to be part of the product. We just don’t want to be only the user of the product, but we want to participate in decision-making. So that’s what Web3 and crypto enables us to do so.
As you know, GariPanda, which is an NFT collection on Magic Eden, if you hold the Panda(s), that means you are a part of our GARI network and could help us grow.
So in the future what we would do is we’ll enable and attach several utilities and use cases to all of our products. The most people who stake GARI into the network will be able to participate in DAO.
The Decision-making process of our road map could be simple, for example, let’s say there are five different logos and we want to choose which one could be the winner, so we will enable all these decisions to make it more inclusive. We are working on that and will launch that.
Not only that, the staking feature of GARI token is gonna be enabled within the application. We are looking forward to that as well. Through that you can earn passively if you hold and stake GARI tokens from earning through GARI Mining Program, you can reinvest and multiply your earnings.
We also have another different plan to make it more user-friendly. It basically enables users from all over the world to purchase in-app items such as booster NFTs, GARI token or just top-up of the Chingari wallet or any other product within the app using FIAT currencies.
Once people earn a GARI token or any sort of income, they want to do two things, spend it or reinvest it.
So the reinvesting part is going to be taken care of by the DeFi initiatives. We could actually make it more secure. We partner with some insurance in order to provide security to our users but this is not official right now yet. When it is officially announced, you will be notified.
Now, the spending part will be taken care of by fintech solutions. Basically, we could attach a VISA to the Chingari wallet that we have (Solana wallet). Once you earn GARI tokens, you’ll be able to actually spend that in real life for day-to-day needs.We are planning to collaborate with different partners in the future.
So if you are a partner and already provide these solutions, reach out to us and we can discuss
Is the app available globally?
Yes, it’s available globally and we are taking one step at a time. We are looking into different markets like Turkish and Spanish-speaking markets. Just go to GARI ecosystem and you will find all the markets where all the apps can be found. You can download it from there too. You can reach out to us on the telegram and ask for the latest version of the downloadable APK file. Always make sure to reach out through our official channels.
In short anyone can use the app right now.
What is the recommended way to get started on Chingari/ GARI ?
The Chingari app is available globally for download and installation on your phone and then activate your Chingari wallet. If you need a referral invite code, join our telegram group and our people will be happy to help you with the referral GARI Mining invite code.
We have a group of GARI Miners too, where people distribute codes on a daily basis. So come and grab one, and activate yourself into the GARI Mining Program. There’s no cost so everything is risk-free. There’s no initial investment to get started. Also, take a look at our medium articles of GARI Network.
Read some articles which are very informative to learn about us, and do your own research. And you can join our telegram and discord groups. We’ll be happy to assist you.
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That’s the end of the AMA. GARI shares the mission to institutionalize space and promote the growth and advancement of the underlying ecosystems and technology behind digital assets and blockchain. At the same time, GARI will provide a familiar short-video social network for newcomers to onboard into crypto in a simple manner.
If you want to know more about GARI Network, please visit to their official websites social channels:
All GARI official links are available here via this one link: https://linktr.ee/garinetwork
