Main navigation

Chingari Web3 Video App Introduces $12 Million Liquidity Program

Companies
Wed, 06/15/2022 - 14:23
article image
Vladislav Sopov
Indian "TikTok killer" Chingari launches massive incentive for digital content creators
Chingari Web3 Video App Introduces $12 Million Liquidity Program
Cover image via www.freepik.com
Read U.TODAY on
Google News
Contents

Massive incentive program is set to motivate a new generation of digital content creators to produce videos and to promote them on the world's fastest-growing digital ecosystem.

Chingari to distribute $12 million in GARI equivalent annually

According to the official announcement shared by the administration of Chingari, a cutting-edge Web3 on-chain social application, it launches GARI mining program to support talented users.

As a part of this program, the Chingari team will distribute GARI to creators from a daily pool of 50,000 tokens. A total of 5,000 GARI daily will be allocated to a login bonus program.

The remaining 45,000 GARI will therefore be shared between participants in the Chingari ecosystem for enjoying in-app activities, such as watching, liking and sharing videos on the app.

Mr. Sumit Ghosh, co-founder and CEO of the Chingari ecosystem and GARI token, stressed that this program is a unique initiative in the modern Web3 segment:

It gives us immense pleasure to announce the GARI Mining program. We promised to democratize the creator economy when we launched Chingari a few years back and the GARI Mining is at the vanguard of that process. This program will ensure a level playing field for big and humble creators. Now, creators and users on the app can earn GARI tokens which can be traded on exchanges for money and creators will not be at the mercy of brand collaborations as their only source of income. The program will offer $ 12 million to the creators and users annually.

The GARI "mining program" launches without a time limit; a $12 million pool will fuel it every year.

NFT-powered Badge program kicks off

Besides GARI mining program, Chingari introduces one more earning opportunity for its users and creators. GARI Badges are unique non-fungible tokens that can only be purchased on Chingari's native marketplace.

Owning GARI Badge automatically boosts daily GARI earnings by up to 900%. The Chingari team introduced five GARI Badge levels: Basic, Bronze, Silver, Gold and Diamond that offer 2x, 3x, 4x, 5x and 10x multipliers, respectively.

Related
Chingari (GARI) Web3 Social App Announces Fashion TV Partnership

Chingari is the world's fastest-growing on-chain social media platform. Recently, it smashed through the 40 million monthly average user (MAU) milestone.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)