CARV Releases Its Native Token, Now Available On Major Crypto Exchanges

Published: October 10, 2024 at 4:00 am Updated: October 10, 2024 at 4:22 am

Edited and fact-checked:
October 10, 2024 at 4:00 am

In Brief

CARV announced the launch of its Base-powered native utility token, CARV, now available on eight CEXs, including Bybit, KuCoin, and Bitget.

Modular identity and data layer (IDL) platform, CARV announced the launch of its native utility token, CARV, built on the Ethereum Layer 2 network Base. This marks a landmark milestone in CARV’s efforts to transform data ownership and management.

“Our TGE is a pivotal moment for CARV as we continue to empower gamers and AI developers to truly control their data,” said Victor Yu, COO of CARV, in a written statement. “With the CARV token, we are taking another step towards building a fair and transparent data-driven ecosystem,” he added.

As the foundational element for governance and participation within CARV’s ecosystem—which includes CARV Protocol, CARV Play, and CARV Labs—the token enables holders to influence the protocol’s development. Additionally, it allows them to benefit from CARV’s success, and truly own, manage, and monetize their data.

Holders can participate in decision-making processes, propose new features, and acquire CARV nodes, with 40 million tokens allocated to enhance network decentralization and create new revenue streams. Additionally, CARV offers a buyback program for node holders to promote decentralization. With its established revenue model and attractive staking options, CARV presents a strong opportunity for traders.

The token’s utility reaches millions of gamers through Infinite Play, CARV’s play-to-earn economy, which now integrates CARV following three successful experimental seasons and high APR staking. Moreover, as CARV continues advancing in AI, Web2 companies are anticipated to use CARV to access valuable user-controlled data, further increasing demand for the token.

CARV To Allocate 10% Of Total Token Supply To Airdrops

CARV will be launched with a total supply of 1 billion tokens, which will be fully released over the course of four years. Half of this total supply is earmarked for the community, with 10% allocated for three seasons of airdrops.

In accordance with its tokenomics, 50% of the total supply will go to nodes and the community, 19.46% to the founding team and advisors, 9.25% to early investors, 9% to the ecosystem and treasury, 8.30% to private fundraising, and 4% to liquidity.

“This is just the beginning—our roadmap includes upcoming airdrops, growing gaming partnerships, and innovative experiences driven by community governance. Of course, none of this is possible without our community, and this is reflected in our tokenomics,” said Victor Yu.

In order to enhance community participation, CARV is also introducing veCARV on Arbitrum, a locked “voting escrowed” version of CARV that increases voting power and promotes long-term staking and community-driven development.

Currently the token is available on eight exchanges, including Bybit, KuCoin, Bitget, HTX, Gate, BingX, HashKey Global, and MEXC, with plans for additional exchanges in the future.

$10M Fundraise, Node Sale, And Upcoming Mainnet

CARV is developing the largest modular Identity and Data Layer (IDL) for gaming, AI, and beyond, integrating over 900 games and AI companies.

Throughout this year, CARV has achieved notable milestones, including securing $10 million in Series A funding, enhancing protocol decentralization through a $35 million verifier node sale, and launching a $50 million accelerator.

Additionally, CARV has shown exceptional revenue generation, which is uncommon in the Web3 landscape. In the first three quarters of 2024, the platform reported over $43 million in total revenue. Presently, the team is focused on preparing for the upcoming mainnet release.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Alisa Davidson