Explore with Saros #5: Everything you need to know about Gari Network (GARI)
“Explore with Saros” is on fire! Today, let’s take a closer look at an extremely famous project in India: GARI Network.
What is Gari Network?
Gari Network is a project that brings social media applications to the blockchain. In 2020, by giving artists 30% of platform revenue, Chingari - the world's largest on-chain Web3 social app built on Solana, has boosted the creative industries in India. At that time, there were few ways for content producers to profit from their work on other social media, Gari network was truly a hit.
With Gari, they are further upending the creators’ economy by allowing digital artists and video producers to receive payment in cryptocurrency for producing and disseminating their work. Meanwhile, the audience can earn money with Create to Earn, Watch To Earn, and Engage To Earn features in the Chingari app.
- Through Chingari, the Gari Network enables creators to generate short video, social audio, social commerce, social Ed-Tech, and social entertainment on the blockchain. Creators can then promote their posts to 100M+ Chingari users. Only those who stake GARI tokens or purchase NFT have access to the livestream on the app.
- Chingari uses the GARI token to distribute 30% of its revenue to producers, enticing and motivating them to create more high-quality content.
- Users can tip creators with GARI in order to receive a retroactive airdrop of premium content or unlock some exclusive interactions.
- Via a customized ML-fed feed, users are provided with engaging, targeted product information and can buy them directly using the GARI token on the platform. Additionally, users can use GARI to buy NFT within producers' material or courses in Chingari Skills.
- Token Name: Gari
- Ticker: GARI
- Blockchain: Solana
- Token Standard: SPL
- Contract: CKaKtYvz6dKPyMvYq9Rh3UBrnNqYZAyd7iF4hJtjUvks
- Token Type: Utility, Governance
- Total Supply: 1,000,000,000
- Circulating Supply: 300,000,000
GARI Token Allocation:
- Chingari Community Reserve Treasury: 25%
- Public Sale: 20%
- Staking Rewards: 15%
- Advisors & Team: 15%
- Seed Round: 10%
- Private Sale: 10%
- Airdrop: 5%
GARI Use Case
Tipping: Users can use the GARI tokens in their in-app Gari wallet to tip their favourite content creators directly from the video feed, as well as from the Creator’s profile. These transactions are completely on-chain.
Boost: Creators will be able to boost their profile and posts to 100M+ Chingari users, while making the payment for the service through GARI Token.
Token Gated access: GARI holders can access exclusive content on Chingari platform by staking their tokens on creator pools.
Governance: GARI holders will be able to stake and earn yield as well as vote on proposals to decide the future direction of the platform.
NFTs: Chingari will be the world’s biggest video NFT marketplace. These NFTs can only be purchased with GARI tokens.
Audio Rooms Currency: Audio rooms is a feature on Chingari app, similar to Clubhouse, where creators can connect with their followers over audio meetings. $Gari will be used by users to purchase gifts for these creators.
Chingari Live Streams: The Creators will be able to do livestreams on the app. The live streams will be exclusively available for those staking GARI Token or buying NFT.
How to maximize your GARI with Saros
SarosStake: Stake GARI to receive more GARI without concerns about impermanent loss!
How to store GARI Token on Solana
After harvesting from SarosStake, you can totally store GARI tokens on Coin98 Super App
Earn GARI on Chingari
Earn GARI token right on Chingari by three main activities: Create-to-Earn, Watch-to-Earn and Engage-to-Earn
- Create-2-Earn: Earn GARI tokens by creating videos on Chingari App
- Engage-2-Earn: Like, comment on videos on Chingari app and receive GARI tokens back
- Watch-2-Earn: For those who are not into creating or sharing video, by just watching them on Chingari can help gaining GARI
We hope that after this post, you have gained a better understanding of Gari Network, an intriguing project on Solana, and how you can maximize your GARI holdings with Saros.
“Explore with Saros” will be back with more episodes, see you!
Disclaimer: The information provided is given only for educational purposes, and it should not be considered as financial advice. Saros is not liable for any financial losses or other damages incurred as a result of utilizing the aforementioned initiatives, platforms, or cryptocurrencies.
About Saros Finance
Saros Finance is the ultimate DeFi platform native to Solana, with trading, staking, and yield farming services. Built by Coin98 Labs, Saros Finance aims to adopt millions of users to DeFi.