Gari Network
Crypto Overview
Overview
Gari Network is a social token launched in 2021 by the Indian short-form video app Chingari. The GARI token is built on the Solana blockchain and aims to create a token-based creator economy within the Chingari platform.
Intended Utility
The token's intended purposes include: rewarding content creators on the Chingari platform, enabling users to tip creators, purchasing merchandise and NFTs within the ecosystem, and participating in platform governance.
Actual Utility Assessment
The token has achieved some adoption within the Chingari ecosystem, with over 100 million downloads of the app reported. However, on-chain data shows relatively low transaction volumes for actual utility purposes compared to trading activity.
Business Model Analysis
The business model appears legitimate, focusing on content creation and social media engagement. The platform does not explicitly facilitate any haram activities like gambling or adult content.
Token Distribution and Governance
Initial token distribution allocated significant portions to the team and investors, with vesting periods in place. 20% was allocated to the founding team, 15% to advisors and partners, and 45% to the ecosystem fund. The remaining 20% was distributed through public sales.
Development Activity
The project shows consistent development activity on their GitHub repository and regular platform updates. The team maintains active communication through official channels and provides transparent progress reports.
Crypto Impact
To assign a comfort level investing in Gari Network from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Gari Network.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.