GARI Emerges as Second Largest Project on the Solana Blockchain

Just six months after its launch, the GARIA cryptocurrency launched by Chingari has staked its claim as the second most popular token on the Solana blockchain with over a quarter of a million holders.

This is evident from data from GenX analysisshowing that there are now 238,000 individual GARI token holders, leaving only the FAMILY token – which has 2.9 million holders – in Solana’s overall popularity stake. It is also way ahead of the chasers, with SOLCHICKS being the third most used token on Solana, with only 92,000 holders in total.

The astonishing rise in popularity of GARI was expected. It is the native cryptocurrency of Chingari which has become one of the most popular social media apps in India. With over 32 million daily active Chingari users, there is clear potential for GARI to grow much, much bigger than it is today. Chingari is a TikTok clone, a short video sharing app that allows users to add background music and filters to their content and share it with millions of other users. Since TikTok was banned in India two years ago, its user base has skyrocketed.

Chingari is to date the largest social media platform in the world embracing cryptocurrency. It believes that GARI will play a major role in its platform and help foster an ecosystem that will enable top influencers to sell physical merchandise and NFTs, while rewarding users with GARI tokens for posting content which is widely shared on the app. Users can also tip their favorite content producers.

It is a popular concept that has been championed by none other than Salman Khana legendary Bollywood actor with over 43 million Twitter followers who not only helped launch GARI but also acts as Chingari’s brand ambassador.

There is every reason to believe that GARI may eventually surpass KIN to become the number one project on the Solana blockchain. GARI is just getting started and didn’t launch until October. What’s more, only Chingari launched the GARI mobile wallet in its app last month, meaning it has only just begun tapping into its more than 30 million users, all of whom could eventually become a GARI holder.

GARI’s early growth is in stark contrast to the project it is pursuing. There are actually some similarities between them. KIN, like GARI, is designed by the creator of a popular app – the messenger app Kik. However, KIN has lost a lot of value as Kik has been plagued by problems with US authorities and allegations that it would be used to share illegal content.

Leave a Comment