CARV, the biggest modular identity and data layer for gaming and AI, has announced the launch of its native utility token, $CARV. Built on Base, the token is now accessible on eight centralized exchanges, such as Bybit, Kucoin, and Bitget. This represents a noteworthy advancement in CARV’s objective of transforming data ownership.
$CARV gives holders the ability to take part in shaping the future of the protocol, participate in its success, and truly own, manage, and monetize their data. It is the cornerstone of governance and participation for the whole CARV ecosystem, which includes CARV Protocol, CARV Play, and CARV Labs.
In addition to participating in decision-making and suggesting new features, holders have the ability to purchase CARV nodes with 40 million tokens, which will help to further decentralize the network and create new income sources. In order to promote true decentralization, CARV also offers a buyback program for the node holders. $CARV makes an outstanding case for traders because to its established revenue model and high-yield staking prospects.
Victor Yu, COO of CARV stated:
“Our TGE is a pivotal moment for CARV as we continue to empower gamers and AI developers to truly control their data. With the $CARV token, we are taking another step towards building a fair and transparent data-driven ecosystem.”
Millions of players may benefit from the token thanks to Infinite Play, CARV’s play-to-earn economy, which now includes $CARV following three fruitful experimental seasons that showed strong APR staking. Further demand will be created when web2 enterprises employ $CARV to obtain important, user-controlled data as CARV progresses in AI.
Yu said:
“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.”
$CARV will debut with a total supply of 1 billion, which will be fully released over four years. 10% of the entire supply is distributed across three seasons of airdrops, with half of it set aside for the community. The following is the token allocation (complete information on token utilities can be found here):
- Nodes and Community (50.00%)
- Founding Team and Advisors (~19.46%)
- Early Investors (~9.25%)
- Ecosystem and Treasury (9.00%)
- Private Fundraising (8.30%)
- Liquidity (4.00%)
In order to give users a voice, CARV also launches veCARV on Arbitrum, a locked version of $CARV known as “voting escrowed,” which increases voting power and promotes community-driven development and long-term staking.
The following eight exchanges now offer $CARV: Bybit, KuCoin, Bitget, HTX, Gate, BingX, HashKey Global, and MEXC. More exchanges are to come.
This year is turning out to be crucial for the project. Apart from obtaining $10 million in Series A funding, accelerating protocol decentralization via the sale of $35 million verifier nodes, and launching a $50 million accelerator, CARV has shown to be very successful in generating revenue, which is uncommon in the web3 domain. During the first three quarters of 2024, CARV had a total revenue over $43 million. With the introduction of the token today, data empowerment enters a new phase supported by a history of both financial success and technical innovation.
Also, CARV is not yet done for 2024. The team is still working hard to complete other important projects by the end of the year, including the upcoming mainnet release. Enhancing the ERC-7231 standard by adding Merkle trees to increase data processing and privacy, expanding its identity and data layer with decentralized sequencers and data verification, and providing an on-chain database solution for fast identity integration with CARV ID are a few of these.
See Messari’s most recent report on CARV for further information, or follow the blog or Twitter (X) for updates.
