CARV Launches Its Proprietary Token, Now Accessible on Major Crypto Platforms

The platform incorporating a modular identity and data layer (IDL) has been unveiled, CARV marking a significant advancement for CARV as it rolls out its native utility token, CARV, on the Ethereum Layer 2 solution, Base. This initiative is a pivotal step in CARV's mission to redefine data ownership and management.

Victor Yu, the COO of CARV, stated in a press release, 'The launch of our token generation event is crucial as we empower gamers and AI developers to take full control of their data. The CARV token is a significant leap towards establishing a transparent and equitable data-centric ecosystem.'

As a key component for governance and participatory engagement within CARV’s ecosystem—which encompasses CARV Protocol, CARV Play, and CARV Labs—the token provides its holders with the power to shape the evolution of the protocol itself. Moreover, it positions them to reap the rewards of CARV’s growth, allowing for genuine data ownership, management, and monetization.

Token holders can engage in shaping decisions, suggest new features, and acquire CARV nodes, with a total of 40 million tokens designated to strengthen network decentralization and create fresh revenue opportunities. Additionally, there’s a buyback scheme for node holders aimed at fostering decentralization. Thanks to its solid revenue model and enticing staking solutions, CARV stands out as a favorable prospect for traders.

The utility of this token reaches millions through Infinite Play, CARV's emerging play-to-earn framework, which now incorporates CARV following three successful beta seasons and high annual percentage rate (APR) staking. Furthermore, as CARV advances its AI initiatives, it’s expected that Web2 companies will leverage CARV to tap into valuable data controlled by users, driving up demand for the token.

CARV Plans to Allocate 10% of Its Total Token Supply for Airdrops

CARV The token will debut with a total cap of 1 billion tokens, expected to be fully distributed over a period of four years. Half of this total is reserved for the community, with 10% set aside for three airdrop events.

According to its detailed tokenomics, 50% of the total supply is earmarked for nodes and the community, while 19.46% is designated for founders and advisors, 9.25% for early backers, 9% for ecosystem development and treasury, 8.30% for private fundraising, and 4% for ensuring liquidity.

Victor Yu remarked, 'This is merely the starting point—our roadmap is packed with impending airdrops, expanding gaming alliances, and community-driven innovative experiences. None of this could happen without our fantastic community, as reflected in our token distribution strategy.'

To bolster community engagement, CARV will also roll out veCARV on Arbitrum, a locked variant of CARV designed to enhance voting strength and encourage long-term staking alongside community-led development.

At present, the token is tradeable on eight different exchanges, including listings on MEXC, with intentions to expand onto more platforms in the near future. Bybit , KuCoin, Bitget, HTX, Gate, BingX, HashKey Global CARV Completes $10M Fundraising, Node Auction, and Gears Up for Mainnet Launch

CARV is aiming to create the most extensive modular Identity and Data Layer (IDL) for the gaming, AI, and beyond domains, collaborating with over 900 gaming and AI enterprises.

This year, CARV has celebrated significant achievements, such as raising $10 million in Series A funding, boosting protocol decentralization through a $35 million node sale, and initiating a $50 million accelerator initiative. gaming Additionally, CARV exhibited remarkable revenue figures that are relatively rare in the Web3 scene. In the initial three quarters of 2024, the platform recorded more than $43 million in total revenue. Right now, the focus is on prepping for the much-anticipated mainnet rollout.

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Alisa, an enthusiastic reporter at Cryptocurrencylistings, concentrates on cryptocurrency, zero-knowledge proofs, investments, and the vast world of Web3. With her keen insight into emerging trends and technologies, she provides thorough coverage designed to educate and engage readers in the ever-evolving digital finance arena.