The integration marks a significant milestone in the adoption of Web3 social media, with Chingari's user base expanding at unprecedented rates on the Aptos Network
BENGALURU, India--(BUSINESS WIRE)--Chingari, a leading social media platform in India, has commenced its integration into the Aptos Network blockchain, which has resulted in a substantial increase in user activity. Over the first ten days following the integration, Chingari registered over 1,000,000 total onchain users and experienced a surge in daily onboarding from a previous range of 10,000-15,000 users to approximately 60,000 to 80,000 new users per day.
The impressive growth has positioned Chingari as the largest project on the Aptos blockchain, surpassing any other decentralized app (dApp) on any other chain, including Chingari's past performance on Solana. In fact, Chingari is anticipated to surpass the total number of lifetime users of Stepn, the second-largest Dapp on Solana, within the next week.
All Aptos Network metrics saw a significant rise after the launch of Chingari, with official analytics showing including a 150% increase in transactions, a 500% increase in onchain daily active users, a 500% increase in gas consumption, and a 900% increase in new users. Notably, over 50% of all Aptos Network transactions and gas consumption, and 80% of daily active users, are credited to Chingari.
Given this growth trajectory, Chingari projects that it will reach over 1.25 million users by the end of July and over 20 million onchain users by the end of the first year. This is expected to result in a cumulative total of more than 200,000 APT paid as gas fees by the end of Year 1.
Currently, all new Chingari users are automatically added to the Aptos blockchain, and existing users will have the option to switch from Solana to Aptos in the future.
This integration brings numerous benefits to Chingari users. Users can earn GARI tokens through engagement and content creation on the platform, which can be used in various ways such as tipping favorite creators, boosting content for increased visibility, and purchasing virtual gifts. Users also have the option to stake tokens within the Chingari app to earn a 10% APR and partake in governance.
Sumit Ghosh, CEO and Co-Founder at Chingari, said, “Our integration with Aptos is a significant milestone in our journey. We are committed to providing our users with a platform that is not only entertaining but also technologically advanced, secure, and user-friendly. This partnership with Aptos allows us to do just that, and we are excited about the opportunities it presents.”
The collaboration with Aptos Network has led to significant improvements in the user experience, with many web3 functionalities now instant, thanks to increased reliability and availability. The Aptos network has comfortably coped with surges as steep as 1,200 transactions per second (TPS) following Chingari's integration, showcasing Aptos' ability to accommodate scalable social media projects like Chingari.
Chingari's partnership with Aptos is a significant step in its growth strategy. The partnership will also see the launch of GARI Academy, an initiative to educate developers and students in India on building Dapps (decentralized applications) on the Aptos Move Ecosystem. Furthermore, to promote Aptos in India, Chingari and Aptos will be hosting events in Q4 2023.
For more information about Chingari or to download the app, visit Chingari.io. To learn more about Aptos Network, visit Aptosfoundation.org.
About Chingari
Chingari, powered by GARI is the world's fastest-growing on-chain social app. Chingari's platform entertains 175M+ users across 15+ languages. Chingari has more than 5 million daily active users and 40 million monthly active users. The app has been downloaded more than 175 million times and is amongst the top 20 most downloaded apps worldwide on Google Play. Over 200 million videos are viewed on the app on a daily basis.
Contacts
Media
ashish@chingari.io