The first-ever social token created in India gets endorsed by CoinDCX. The native social token GARI from the short-video platform received one of the biggest announcements ever since its launch. The 7.5 million users of the social token will now be able to trade on CoinDCX. The coin’s onboarding of the Solana-based crypto exchange would open several gateways to the opportunities of the DeFi sector.
Chingari is an Indian social networking project that allows its users to create unique visual content. The platform is equipped with several tools that make content creation easier and more accessible. Moreover, the app helps the users monetize their content through the native GARI coin. This social media monetization has helped the project gain more than 7.5 million users in just four years from its launch. Apart from this, the banning of Chinese apps like Tik Tok in India has given a push to this app to get a significant user base.
The market for the social coin GARI is now expanding thanks to the listing on CoinDCX. This exchange is one of the largest crypto services providers in India. The platform was also one of the earliest startups to establish infrastructure for cryptocurrency trading in India. The exchange currently listed nearly 200 tokens from DeFi for trading. The top-notch KYC features helped the coin become the most reliable crypto exchange in India. CoinDCX’s trading fees are normally between 0.04% to 0.06%, making it one of the most affordable exchange platforms within the country as per this CoinDCX review from CryptoNewsZ to find more information.
CoinDCX announced its plans to list the GARI token on the 2nd of March. According to CEO Sumit Ghosh from Chingari, this decision will greatly impact the accessibility of the GARI coin and bring it to the nooks and corners of India through the wider network of CoinDCX. Chinagari’s goal to financially empower the independent content creators will be highly enhanced with help from a crypto exchange that is designed specifically to suit the demography of India. Furthermore, the app will get global recognition as a decentralized social networking platform among the likes of Rainmaker and Waivlength.
This is not the first listing of GARI tokens on a globally recognised exchange platform. Before CoinDCX, GARI received support from other exchanges like KuCoin, Zebpay, MEXC, Bitmart Huobi and FTX. Chingari is a lucrative option for these platforms as it comes with a staggering 7.5 million users. This number is close to the user count of even popular blockchains like Solana. The opportunities of decentralization have not been very accessible in India compared to western countries. Partly due to the policies of the government and partly owing to the lack of sufficient infrastructures. Now, this integration will give the needed exposure to growing regional projects like Chingari in India.