GARI token volume tops $100 million on first day across 12 crypto exchanges

economictimes.indiatimes.com:

GARI is a native token launched by Chingari, a homegrown short-video app, which went live on 12 crypto exchanges, including HUObi Global, FTX, KuCoin, Gate.io, MEXC Global, OKEx and more. Through the GARI token, Chingari enables short-form video creators to monetise their content on the blockchain.

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Chingari is India's fastest-growing short-form video app. The app lets users create and share short-form videos with the world. When a creator creates a video on Chingari, he/she gets rewarded with Gari Tokens. The token was trading 10 per cent lower at 0.6723 at 12.00 noon on Thursday, commanding a total market cap of little more than $30 million. There are a total of 45,800,000 GARI tokens as per the self-reported circulating supply, the data from Coinmarketcap suggested. Its maximum supply is capped at 1,000,000,000. Gari is the first Indian crypto-token to make a trading debut on international crypto exchanges. With this benchmark, it plans to disrupt the blockchain and crypto market landscape across the world. Sumit Ghosh, CEO & Co-founder, Chingari, said with an impressive volume, GARI is moving towards its vision to entrust the content curator community. «Cryptocurrency in India has been untapped when it comes to the curators and with GARI we would be capturing the potential market. We shall be maintaining the leadership position across the short video apps platforms,» he added. Chingari has more than 110 million downloads and more than 35 million users. The app is now looking at various ways to increase user engagement on the platform