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CARV, an innovative modular identity and data layer designed for gaming and AI, has officially launched its native utility token CARV. This development marks a significant step for the platform as it aims to enhance community engagement and user participation within its ecosystem.
Launch and Availability of CARV Token
According to the recent press release, the CARV token is now tradable on eight notable exchanges including Bybit, KuCoin, Bitget, HTX, Gate, BingX, HashKey Global, and MEXC. The CARV team has announced intentions to list the token on additional exchanges in the future, broadening its accessibility and user base.
Utility and Governance of CARV Token
The CARV token serves as a cornerstone for governance and participation within the CARV ecosystem. Token holders are empowered to engage in decision-making processes, propose new features, and directly influence the development of the protocol. The CARV ecosystem comprises several components, including CARV Protocol, CARV Play, and CARV Labs, and it aims to connect with millions of gamers through Infinite Play, a play-to-earn economy that allows participants to earn while they engage in gaming activities.
Data Ownership and AI Advancements
A key feature of the CARV token is its role in data ownership. Token holders have the ability to control and monetize their data. As the project progresses into artificial intelligence (AI) applications, Web2 companies are expected to utilize the token for accessing valuable, user-controlled data, which will create heightened demand for the CARV token moving forward.
Introduction of veCARV
In addition to the launch of the CARV token, the team has unveiled veCARV on the Layer 2 blockchain Arbitrum. This iteration of the CARV token is a locked, ‘voting escrowed’ version that boosts voting power, incentivizing long-term staking and community-driven development. Users can convert their CARV tokens to veCARV at a 1:1 ratio through a staking process, while transferring veCARV back to CARV involves an unlocking period.
Token Distribution and Community Engagement
The total supply of CARV tokens is capped at 1 billion, with plans for full distribution over the next four years. Half of this supply is allocated to the community, with 10% earmarked for airdrops distributed across three seasons. The community can now access airdrop claims through a dedicated page, which has been introduced in celebration of “CARVtober.” The distribution strategy also allocates nearly 20% of tokens to the founding team and advisors, around 9% to early investors, 9% for ecosystem initiatives and treasury, and 8.3% for private fundraising efforts.
Market Position and Future Prospects
The CARV team emphasizes that the platform’s proven revenue models and enticing staking opportunities present an appealing proposition for traders. Moreover, the project has reserved 40 million tokens for CARV nodes, aimed at decentralizing the network and creating new revenue streams. A buyback program is also in place to support node holders.
Looking Ahead: Mainnet and Innovations
CARV’s Chief Operating Officer, Victor Yu, has expressed that the token launch represents only the beginning of the platform’s journey. The roadmap ahead includes plans for more airdrops, strategic gaming partnerships, and other innovative experiences driven by community governance. The mainnet release is anticipated on October 11, following a snapshot of the Alphanet taken on October 7.
The team is also focused on enhancing the identity and data layer by incorporating decentralized sequencers, advancing data verification methods, and improving privacy features through the implementation of Merkle trees. In addition, CARV is offering an on-chain database solution for seamless identity integration via CARV ID. The project successfully secured $10 million in Series A funding this year, and in the first three quarters, it generated over $43 million in total revenue. Furthermore, CARV launched a verifier node sale worth $35 million alongside a $50 million accelerator program.
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