Huobi Primelist to List GARI, Supporting Gari Network's Efforts to Incentivize Social Video Content Creation
LONDON: Huobi Global, one of the world's leading digital asset exchanges, has announced its eleventh Primelist event, offering its users exclusive access to SocialFi project Gari Network and its token GARI upon its official listing. Gari Network incentivizes users to create content for its social media platform. Primelist participants can line up for numbered tickets or hold Huobi Tokens for three days to potentially win an allocation of the GARI token offering.
Gari Network will use the listing to fund further growth and ensure that it has ample capital to incentivize content creators. The company is built upon the concept of SocialFi - a fusion of social media, web3.0 and finance that incentivizes users with rewards by tokenizing their social influence. The issue with traditional social media platforms is that they tend to dominate content creation, making it difficult for emerging content creators to grow and thrive.
To address this issue, Gari Network launched a short-form video application, Chingari, enabling users to create and share videos, rewarding them with GARI tokens. Chingari is now India's fastest growing video app, with more than 85 million users. It keeps video viewers engaged with transparent tipping features, and its decentralized governance structure enables users to have a voice in how the platform is run.
The eleventh Primelist event reflects Huobi's efforts to support projects that can disrupt industries. Starting 19:30 (HKT time) on Jan 18, 2022, users will be eligible for an allocation of the GARI offering at the opening price, if they queue for numbered tickets or hold Huobi Tokens for three days. Other users not participating in Primelist can also purchase GARI tokens on Huobi Global after the listing.