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OKEx partners with India’s Chingari App by listing GARI token on its platform
Nation Now TV January 17, 2022
- GARI is the first Indian social token to list on OKEx
- GARI token available exclusively for South Asian users of OKEx from India, Pakistan, Nepal, Bhutan, Sri Lanka and Maldives
- Partnership will bring 30 million active users of Chingari App, on-chain
- OKEx has also made a strategic investment of an undisclosed amount in Chingari.
New Delhi, January 17, 2022: OKEx, the world’s 2nd largest crypto exchange by trading volume, announced today the launch of GARI token sale on its platform. The Gari Token (GARI) sale set to go live on Jan 18, 2022, will become the 1st such offering of the program in 2022 as it aims to promote the development and adoption of blockchain infrastructure across industries. As the 1st project, only available for South Asia users, it will empower businesses on the platform and unlock new growth milestones in South Asia.
The GARI Token introduces to Chingari App users a gateway into the blockchain space. The goal is to empower both creators and viewers on the Chingari App with technological tools to interact directly with each other and allow all users on the Chingari App to participate in the long-term direction of the social economy impacting the GARI Token. Bollywood megastar, Salman Khan launched GARI, India’s first social crypto token, last year.
Commenting on the development, Asia CEO of OKEx, Netero, said, “We are delighted to partner with Chinagri as it deepens our commitment to our users in South Asia. Through this partnership, we aim to empower the Chingari App community with revolutionary blockchain technology which will simplify content monetization for creative users of the app. We are always open to alliances with companies which share our vision for blockchain tech”.
Commenting on the development Sumit Ghosh, founder & CEO of Chingari said “Chingari is bringing the web3 revolution to the creator economy with its GARI token. GARI will enable 30 million monthly active users of Chingari Short video app to get on-chain. For the first time in the history of blockchain apps, an app will onboard millions of users on-chain, on the launch day. The entire chingari and gari team along with the community is excited for its launch and listing on OKEx”.
GARI is a social token for the community of Chingari creators that will give them governance authority over the future platform developments through the DAO and create a circular economy. GARI would enable content monetization to become more mainstream in India and the blockchain platform would allow users to obtain tokens for creating and viewing content.
A total of 5 million GARI tokens will be made available on OKEx Jumpstart platform once the token sale goes live at a unit price of 0.2 USDT per GARI with an individual minimum subscription amount of 1 GARI. During the token sale, users will be able to purchase GARI token only using the OKB token, which is OKEx’s native token.
This token sale is dedicated to South Asia. The Allotment Session will go live at 4:00 (UTC) with a maximum allotment of 7500 GARI per person. Soon after, the GARI spot trading pairs will be made available on OKEx.
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