Did you take part in the GARI token sale on Kucoin? Registration for the event started on January 16th in 2021 and it was finished at midnight on January 17th. If you didn’t pay attention, you probably missed out, but should you feel sorry about that? In this article, we will give you some basic information about the Gari Network, and give you data about the token sale that took place on Kucoin.
The previous spotlight project on Kucoin was ClearDAO. It was a giant success for the project and for investors, seeing that the trading price was 40x higher than the price of the token during the token sale. Not only was this amazing, but as the distribution is leveled out over 20 weeks, it will take a while for the tokens to be handed out. That is also helping people hold the token and keep the price up.
What about the GARI token sale on Kucoin?
You had to be alert in order to discover this opportunity because it suddenly showed up, and if you didn’t pay attention, you probably missed out on this opportunity. They had one special sale for the Asian community, and one token sale even for the rest of the world. Unlike the ClearDAO token sale, all tokens have been distributed at once, meaning that this might impact the market price at which it is sold. Will the whales dump the tokens at once? But, it should be mentioned that whales do not have that much power during events such as this one, because there is a maximum purchasing value of $200 per account, meaning that it is very limited how much you can buy with one single account.
With the GARI token sale, it wouldn’t matter if you had 2000 KCS or 20,000 KCS, you wouldn’t be designated a larger allocation no matter what. If you didn’t know that yet, the allocation of tokens you are allowed to buy depends on your Kucoin Share (KCS) balance. The more you have, the bigger the allocation, but once again, there is an upper roof as well, meaning that nobody would be allocated tokens worth more than $200 based on the token sale price.
The GARI trading price – was it a success?
The sale price was $0.2 per token and as the token was made available for trading it has been trading for $0.65 immediately after trading. It might stabilize further down, or maybe it will go further up, but those who decided to sell immediately have left the spotlight project with a profit of 3x-4x profit.
What is the Gari Network all about?
This is the official description of the Gari Network:
The GARI Token introduces to Chingari App users a gateway into the blockchain space. The goal is to empower both creators and viewers on the Chingari App with technological tools to interact directly with each other and allow all users on the Chingari App to participate in the long-term direction of the social economy impacting the GARI Token.
The GARI Token is interconnected with the Chingari App, opening Chingari App users a wider blockchain world where they directly control their assets and can use their tokens to connect and transact with their counterparties, place governance votes, and catalyze platform engagement.
In other words, there is a reason why this token also launched with a special Sout Asia Exclusive, after all, this is a project really focusing on this area of the world.
Did you take part in the GARI token sale on Kucoin? Were you satisfied? Did you sell your tokens at once or are you keeping them for later, hoping that they will grow in value and maybe you will even take use of them on the actual platform?
