Why is Chingari worth following: the social platform has over 100 million users, leading the market with multiple innovations.

In the past year, Chingari, as a dark horse in the SocialFi field, has shown an impressive growth trajectory. According to the data in the chart, since May 2023, Chingari's independent active user count (UAW), volume, and number of transactions have experienced significant fluctuations and rise. Especially in early 2024, Chingari's user activity and trading volume have witnessed several substantial rises, demonstrating its strong performance in the market.

According to Coin98 Analytics, Chingari ranks seventh in the number of independent active addresses in the past 30 days, with a total of 777K independent active addresses, indicating its gradually solidifying position in the SocialFi application. This achievement not only reflects Chingari's breakthroughs in technology and products but also highlights its accurate grasp of user needs and market trends.

Whether in the Web2 or Web3 world, social applications have become a basic need for users. Chingari has also gradually attracted a large number of users' attention and participation with its unique operation mode and innovative features. Next, we will analyze in depth Chingari's operation strategy and the challenges it faces in the SocialFi field.

Chingari Platform Introduction: Innovative short video social application in India, with impressive incentive mechanism and rise in user growth.

Chingari is a popular short video social application that has quickly gained popularity in the Indian market since its launch in 2020. Similar to China's TikTok, Chingari allows users to earn rewards by shooting and sharing short video content. With its innovative features and reward system, Chingari has attracted a large number of users, forming a massive community with over 175 million current users.

Expand your user base

Chingari's vision is to become the best short video sharing platform for users, committed to providing talented individuals with opportunities to showcase themselves. Users can capture and share perfect videos to show themselves to the world. Currently, Chingari has over 50 million users and 160 million views, with over 130 million downloads. The platform offers multiple language versions to enable more people to use this popular new platform, while prioritizing the protection of user data and security to ensure a safe user experience.

Innovative Reward Mechanism

Chingari not only provides a platform to showcase talent, but also incentivizes users to participate in content creation in various ways. Users can earn GARI tokens by watching, sharing, and creating video content. These tokens can be used to unlock special content from creators or purchase voice or video call experiences with creators. By staking idle assets in their wallets, users can also earn additional rewards. This mechanism of "creating and earning" and "participating and earning" greatly stimulates user engagement and promotes platform activity.

Financing and Development

In just a few years, Chingari has achieved remarkable success. In 2021, Chingari raised $19 million in funding and was ranked as the number one social web application in India's "App Innovation Challenge" by the government. In May 2022, Chingari completed a Series A extension round of funding, raising $15 million, providing a solid foundation for its further development. In the future, Chingari plans to launch an integrated test version and on-site test blockchain, further enriching the user experience and promoting the platform's continuous development.

Through these efforts, Chingari is continuously reshaping the social media platform, providing users with a better experience and more opportunities. The success of Chingari is not only a breakthrough in technology and products, but also a precise grasp of user needs and market trends. Next, we will analyze in depth Chingari's operational strategy and the challenges it faces in the SocialFi field.

Depth analysis of Chingari's integration with Kana Labs Paymaster: Key layout of decentralized social media

Innovation and Integration: Chingari's Latest Initiative

On February 23, 2024, Chingari, a leading short video sharing platform in the Web3 field, announced the integration of Kana Labs Paymaster service to provide sponsorship transactions and cover gas fees. This move aims to further optimize the user experience, reduce user entry barriers, and promote the widespread application of the platform. Since its establishment in 2018, Chingari has been committed to empowering creators through NFT technology, providing content ownership management. It now has nearly 5 million daily active users and a daily video viewing count of up to 200 million times.

Importance of Paymaster Technology

Paymaster is a blockchain infrastructure that allows companies or third-party entities to store tokens for sponsoring transactions. This means that any dApp integrated with Paymaster technology can provide a seamless transaction experience for its users, who no longer need to worry about complex gas fees. Paymaster accounts hold various tokens for paying transaction fees, enabling these dApps to bear the gas costs of transactions, thus simplifying the user's operation process.

Kana Labs' Paymaster service is widely recognized for its efficiency and reliability, and is recommended by Aptos Labs as the preferred choice for dApp integration. Chingari chose to collaborate with Kana Labs not only because of its advantages in the multi-chain ecosystem, but also because of Kana Labs' outstanding performance in cross-chain solutions and smart wallet. By integrating Kana Labs' Paymaster service, Chingari is able to effectively reduce users' transaction costs, improve platform scalability, and enhance user satisfaction.

The Future of Decentralized Ecosystem

Chingari was originally built on the Solana network and has now migrated to the Aptos network to take advantage of its higher scalability and lower gas fees. This multi-chain strategy ensures that Chingari maintains a leading position in technological innovation and user experience. Since mid-February 2024, Chingari has sponsored over 800,000 transactions through the Kana Labs Paymaster service. This integration not only enhances the platform's decentralized transaction management capabilities but also enables users to enjoy a more convenient Web3 experience.

In the future, as Kana Labs continues to expand its services in the multi-chain ecosystem, Chingari will be able to achieve greater market penetration and technological integration globally. Through this collaboration, Chingari not only enhances its own competitiveness but also sets a new benchmark for the development of decentralized social media. This move by Chingari indicates that decentralized social platforms will see more innovation and transformation in the future.

Chingari has made comprehensive improvements in user participation and platform functions.

Web3 social media users are familiar with Chingari, a leading short video sharing platform that has gained significant influence both inside and outside the Web3 community. Specifically, Chingari has made remarkable achievements in multiple aspects, impressing the market.

First of all, in terms of user incentives, Chingari has greatly increased user engagement through a series of reward mechanisms. For example, on May 10, 2024, Chingari announced the "Refer and Earn Leaderboard Contest" on the X platform, with a prize pool of up to 100,000 $GARI. This activity encourages users to refer new users and stay active. For every successful referral, the referrer will receive 100 $GARI, and the referred user will receive 50 $GARI. This initiative not only promotes user growth but also enhances community interaction.

In terms of platform operation, Chingari adopts a strategy of regularly burning GARI tokens to control token supply and increase its scarcity. On May 13, 2024, Chingari announced the successful burning of 500,000 GARI tokens, worth approximately $11,000, reducing the total supply by 1.61%. This burning mechanism effectively enhances token value and strengthens users' confidence in the platform's long-term development.

In addition, Chingari has also launched multiple advanced trading tools to enhance the trading experience of users. On May 30, 2024, the platform launched the DEX aggregation function, providing better trading options through Raydium and Meteor. At the same time, users can use limit orders and Dollar Cost Averaging (DCA) automated investment strategies to better control their trading and investment plans. By staking GARI tokens, users can not only gain voting rights but also participate in platform governance, vote on proposals, and enhance their involvement in platform decision-making.

To further enhance user experience and platform functionality, Chingari plans to launch perpetual futures trading using Drift.trade and Raydium liquidity on July 5, 2024. Additionally, users can borrow other cryptocurrencies by using GARI or SOL tokens as collateral before July 30, 2024, in order to unlock more liquidity and improve asset utilization efficiency.

Overall, Chingari has successfully expanded its user base and platform diversity through these strategies and functional innovations, demonstrating its forward-looking layout and innovative spirit in the Web3 social media field. However, despite these measures showing strong potential for growth, future market changes and user demands remain uncertain. Whether Chingari can sustain its leading position in the fierce competition remains to be seen.