Chingari Network (some fundamentals…why I'm bullish)
This post is an excerpt from a more thorough post (on CHARTS) that attempts to account for the positive price action currently taking place on $GARI
Fundamentals
What could be responsible for Chingari's token to be running contrary to BTC and the rest of the crypto markets at this particular time?
The answer could lie in India's demographics & geoploitics, Chingari's use case, market, and tokenomics…
To fully appreciate the potential of Chingari as a platform, we must not take for granted that India today despite all of their advancements still harnesses one of the world's largest impoverished population.
Tiktok immediately gave over 200 million talented and untalented [but daring] Indians another route out of poverty by facilitating the provision of a worlwide platform that content creators could get paid directly from Tiktok and other entrepreneurial endeavours.
These confluence of factors easily lead to India becoming one of Tiktok's largest markets. Tiktok is a Chinese product, and following a border skirmish between the Chinese and Indian armies over disputed territory the Indian government banned Tiktok along with 14 other Chinese applications (digital sanctions).
Chingari is not merely filling a gap left by Tiktok's absence.
Chingari has improved on its Chinese counterpart by espousing a "pay to watch" element or as they phrase it in their white paper, "empowering both creators and viewers with financial instruments".
This will likely not merely fuel adoption but act as a Nitrous injection and supercharge/boost its adoption.
However, what convinced me on the growth potential of $GARI was it's use case.
The GARI token is going to be used as a governance token, the social currency for messaging, tipping, and "e-tailing" purchasing the different products that influencers endorse.
For those more interested in $GARI as an investment in the platform, they can stake for an APY which will give you a share of the platform's earnings or if you are convinced on the potential of a given influencer/content creator you can delegate through their account to earn a share of their income.
Tokenomics…
$GARIs circulating supply is 45.8 million with a Max supply of 1 Billion
At the beginning of this year there were 38 million active monthly users
Tiktok boasts over 2 billion users if Chingari gets half of Tiktok's market share that is less than 1 GARI per user.
The current market cap is roughly $28 million
It's fully diluted market cap is half a billion
About 200 M $GARI is scheduled to be unlocked over 4 months in latter part of 2023 into 2024.
A possible reason for the recent positive price action is the platforms launch in Indonesia,
with launches through out the world littered throughout this year, the introduction of staking, a wallet release and their roadmap ends with the 2023 launch in USA & Canada.
