Bengaluru, 03 August 2022: World’s largest social token, GARI has surpassed the milestone of 1 million active wallet users. The historic feat has been achieved in less than six months of its integration into the Chingari app. As the active wallet users have crossed more than the 1 million mark, the GARI token has now become the fastest on-chain social app to hit the milestone. GARI is the native token of the short video app, Chingari which is a leading web3 social network with a combined community of 140+ million users.
For a comparison, leading cryptos including Bitcoin and Ethereum reached 1 million active wallet users within 8 and 3 years of their launch, respectively.* Since its inception in February 2022, the GARI token has received great enthusiasm from the community as the wallet users reached 600k in just three months of its integration with the Chingari app. Moreover, the GARI wallet users witnessed a healthy growth rate with 700k wallet users by July 2022. Continuing on its growth trajectory, the active wallet users reached 900k on 25th July 2022 and within a span of just one week, it has reached 1 million as of today.**
Mr Sumit Ghosh, Co-founder & CEO, Chingari said, “This is a historic moment as GARI token has now become the fastest on-chain social app in the world to achieve this milestone. The 1 million GARI active wallet users are a testament to the faith the community has shown in our project. Moreover, this feat will make our resolve stronger to empower the big and small content creators on the Chingari app through the GARI mining program. We are on the path of onboarding 1 billion on-chain users and confident that we will achieve the feat in near future.”
Chingari launched the GARI mining program in June 2022, which incentivises participants (users and creators) on the app for doing in-app activities like uploading, watching, sharing, and liking videos. In less than two months more than 1.5 million USD worth of GARI has been awarded to the participants just for engaging with the app.