OKEx, the world’s second-largest crypto exchange by trading volume, has launched GARI token on its platform. The crypto trading platform has also made a strategic investment of an undisclosed amount in Chingari.
Bollywood actor Salman Khan launched GARI, India’s first social crypto-token, last year.
The GARI Token, which is the first Indian social token to list on OKEx, introduces to Chingari App users a gateway into the blockchain space.
As per OKEx, the Gari Token (GARI) sale will go live on 18 January. 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.
GARI token will be available exclusively for South Asian users of OKEx from India, Pakistan, Nepal, Bhutan, Sri Lanka and Maldives
Commenting on the development, Asia CEO of OKEx, Netero, said: “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”.
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.
“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,” said Sumit Ghosh, founder and CEO of Chingari.
A total of five 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.
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