New Users on Aptos Increase by 900% Following Integration with Chingari
Chingari has moved its operations to Aptos this month, deciding to seek a new home after experiencing several network crashes on Solana last year.
New Users on Aptos Increase by 900% Following Integration with Chingari. Image: BTTC
Activity on Aptos has surged following its integration with Chingari, the Indian social network previously hosted on the Solana infrastructure.
Overview of activity on Aptos in the past 7 days. Source: Aptos Analytics
According to on-chain data, the number of new Aptos users has skyrocketed by an astonishing 900% compared to last month, with nearly 90,000 active accounts daily.
This impressive milestone coincided with Chingari's migration to Aptos on July 6th. The social network aimed to expand its user base and enhance their experience following network outages on Solana in 2022.
Sumit Ghosh, Co-founder and CEO of Chingari, commented:
"The Solana network outages posed significant challenges, prompting us to take timely action. However, everything was planned to minimize transaction risks for users."
Ghosh highlighted that integration with Aptos enabled leveraging instant features such as digital gifting, attracting a substantial influx of new users in recent weeks.
As part of the transition, Aptos introduced a new wallet for Chingari, facilitating community token earning through platform interactions. Moreover, users can utilize these tokens to tip content creators, enhancing opportunities to receive NFT rewards.
Additionally, Chingari's growth hinges on India's 1.4 billion population and local crypto adoption. According to Chainalysis, India leads in cryptocurrency adoption in the South Asian region.
As of July 14th, Chingari contributed to 80% of the total daily active users on Aptos and 50% of the total gas fees on the network, marking a more than 500% increase from the previous month. Transaction volume on this layer-1 has also surged by 150%, reaching nearly 2 million transactions per day. Maintaining this pace could soon surpass the second-largest Solana-based dApp competitor, StepN.
Chingari's founder estimates:
"If we sustain this growth momentum, [...] we predict Chingari will reach 1.25 million users by the end of July, tenfold higher than on Solana. As a result, Aptos will accumulate over 20 million users and 200,000 APT as gas fees by the end of 2023."
Aptos has been a prominent layer-1 blockchain over the past year, launching its mainnet in October 2022 and gaining significant attention with a thousand-dollar airdrop campaign. To date, Aptos has successfully raised $350 million through multiple funding rounds.
However, Aptos is not the only blockchain benefiting from dApps within its ecosystem. Since late March, y00ts also decided to move from Solana to Polygon. Recently, game developer Mythical Games migrated from Ethereum to Polkadot, citing slow transaction speeds and high fees. Last night (20/07), Worldcoin, a retinal scanning project, announced completing its blockchain platform transition from Polygon to OP Mainnet.
