Chingari’s $GARI Token Hits SolRazr Launchpad For Largest Initial DEX Offering In History -Breaking
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Chingari’s $GARI Token Hits SolRazr Launchpad For Largest Initial DEX Offering In HistoryIndia’s fastest-growing short video sharing platform, Chingari, recently announced the Initial DEX Offering (IDO) of its native $GARI token. Now, the highly-anticipated IDO is available on SolRazr’s Solana launchpad.
The $GARI token sales, which were dubbed the biggest IDOs of their kind across all blockchains launchedpads, began today (December 15th) and will go on until December 18th 2021. This IDO follows Chingari’s recent live token sale on the Republic platform, where the Chingari team raised $12.3 million within 24 hours of listing – a new record in itself.
Previous token sales have accelerated the demand and enthusiasm for the $GARI token, considered the first “social crypto token” in India. Salman Khan, a Bollywood superstar and ambassador for Chingari brands, officially launched the $GARI token at an exclusive event.
The Chingari App has also been a fast-growing app, surpassing popular ones like Reddit (NASDAQ :), Facebook and Reddit. Recent stats show that the Chingari app was downloaded more than 90 million times, and has 32 million users.
Sumit Ghosh, Co-Founder of Chingari and CEO at $GARI, is positive about the token’s value.
“The $GARI crypto token is developed on the blockchain network. The Chingari app will let content creators create an eCommerce area that will feature actual merchandise, NFT projects, as well as help customers fund their favorite artists. We chose SolRazr to launch our IDO token sale as the platform is also built on Solana, and we are confident that it is the best platform to ensure a fair process and complete transparency.”
The Chingari team hasn’t implemented a whitelisting process for the $GARI token sale, meaning the offering will follow the traditional first-come, first-serve basis. Users can now connect to their private wallets using Sollet Wallet and Phantom Wallet, in order to buy the tokens. To participate in IDO, KYC must be completed. Users will also need to pay SOL (small amount) for gas fees.
The $GARI IDO on SolRazr has two different pools to choose from, one is the “Open Community Pool (NASDAQ:)” with 30 million $GARI tokens, and the other is the “SolRazr Community Pool” with 10 million $GARI tokens. There is a $100 minimum and a $500,000. maximum contribution. There are also different rewards and staking levels offered by the Chingari Team.
Vijay Kalangi Co-Founder, SolRazr remarks that SolRazr hosted the largest ever IDO launchpad.
“We are excited to launch the $GARI token on SolRazr. This is the most IDO launched on any crypto launchpad. It was easy to purchase $GARI. To win the lottery, users don’t need to be on the whitelist. They can go straight to the IDO process.”
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