GARI Network (GARI) token price has jumped 36% since yesterday, following the announcement of GARI Mining Program.
GARI Network (GARI) token price has jumped 36% since yesterday, following the announcement of GARI Mining Program. On-chain social app Chingari has announced a mining program which will benefit viewers and creators engaging on the platform.
In a statement today (15th June), Chingari said this GARI Mining program is a “Create-2-Earn”, “Watch-2-Earn” and “Engage-2-earn” program to empower its four crore monthly average users.
GARI is one of the biggest social crypto tokens listed on several exchanges. It is used for doing in-app activities including creating, liking, and sharing videos. Notably, Chingari has become the first social app in the world to offer crypto to its creators and users on its platform, the company said.
GARI daily distribution plan
According to the statement, the GARI tokens will be distributed to the creators from a daily pool of 50,000 tokens, out of which 5,000 tokens will be set aside for the daily login bonus. The remaining 45,000 GARI will be rewarded to the users/creators for enjoying in-app activities including watching, liking, and sharing videos on the app.
The earnings can be further increased by using GARI Badges which are the NFTs a user/creator can purchase in the Chingari app to multiply their daily GARI earnings up to 10x, depending on the badge level. There are 5 Badge levels including Basic, Bronze, Silver, Gold and Diamond that offer 2x, 3x, 4x, 5x and 10x multipliers respectively.
93 crore per year
Commenting on the launch of GARI Mining program, Sumit Ghosh, Co-founder and CEO of Chingari and GARI token said, “This program will ensure a level playing field for big and humble creators. Now, creators and users on the app can earn GARI tokens which can be traded on exchanges for money and creators will not be at the mercy of brand collaborations as their only source of income. The program will offer Rs. 93 crore (12 million) to the creators and users annually.”
GARI price today
GARI was trading at $0.6122 at around 12 pm on Tuesday (14th June). The price jumped to $0.8381 by 9.35 am today, according to data on CoinmarketCap.
GARI token price at the time of writing was $0.8032, up around 15 percent in the last 24 hours. GARI had touched all-time high of $1.05 on January 18, 2022.
(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)