$GARI update (27/05/22)

GARI's chart/technical's today is finally reflecting what we've known to be happening with the fundamentals (the launch of the Chingari network in the US markets).

It is but one green day, before even printing a close / unconfirmed.
What's the significance?

Looking at the  smaller time scale (4 hour) you can plainly see that we have retraced and bounced off the 0.618.

Looking at the hourly, what stands out is the flipping of resistance to support.
The main indicator of bears being in control is a mass sell off at resistance.
Flipping of resistance to support indicates that there are more buyers in the market than there are sellers. 

Congrats to all those who have also been helping establish (stocking up at) the 65¢ support.

I have restocked/grown my HODL stash, convinced that there is limited indication of further movement to the downside. 

Bearish view: 
Beware that this may be a fake out / "deadcat bounce", usually indicated by a wick up, pull-back, and we don't return again to the heights reached on that wick.

Fundamentals / Bullish indicators / My takes

The launch in the US markets has the power to be a great catalyst for the Chingari network.
Beyond the network effects of expanding, of onboarding more users. The US markets opens up the price action to a financial population that is a little bit more significant.

I don't know if this was intentional or not; launching in the developing world before onboarding the developed countries. But there is something to be appreciated in the Robinhood-like design especially with the notion of "ponzinomics" floating around like a heavy cloud over these web3 / defi-tokenomics.

I do not think that "ponzinomics" can be applied to this ecosystem's tokens, beyond the natural fundamental law of buying early, when prices are low. Simply, due to its capped supply further bolstered by its created dual usecase as a reward token and an earning potential by engineering a defi ecosystem for its tokens. 

The ingenuity of this reward mechanism / defi infrastructure usecases is that it disincentivizes selling amongst the astute users. 

If it is a fixed supply. What happens to the network once all the tokens have been minted?
Looking at the Chingari networks operation, before the release of the $GARI token, they rewarded their users in ƒiat.

Looking at Tiktok/Youtube/all social media platforms. Why do they exist? What are the incentives that motivate people to curate their own brands.

Beyond juvenile bragging rights, are there revenue streams opened that drive people to become influencers.

Consider the value of a given platform? The product endorsements, pinpoint accuracy to potential advertisers for a particular subset of a given platform. 

The $GARI token's use case of enabling you to back / delegate your tokens with a given content creator to share in their platform's profits.

$GARIs defi play is  basically the tokenisation of an influencers platform.

Just sharing my insights with the fam (DYOR),

Banter On, Banter Strong!