CARV, a pioneering platform focused on gaming and artificial intelligence (AI), has officially launched its native utility token, CARV, as announced on October 10. Built on the Base blockchain, the CARV token is now accessible on eight centralized exchanges (CEX), including notable platforms like Bybit, KuCoin, and Bitget. This launch marks a significant milestone for CARV in its mission to transform data ownership in the digital landscape.
The CARV token serves as the cornerstone of the CARV ecosystem, enabling users to propose new features and monetize their data. This governance structure allows for greater community involvement and decentralization. In addition to participating in governance, users can acquire CARV nodes, with 40 million tokens allocated to diversifying revenue streams and further enhancing the network's decentralization efforts.
To support its goals of decentralization, CARV has also implemented a buyback program for node holders, reinforcing its commitment to a fair and transparent ecosystem. Victor Yu, COO of CARV, expressed the importance of this launch, stating, “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.”
The utility of CARV extends to a wide range of users, particularly the millions of gamers engaging with CARV’s play-to-earn platform, Infinite Play. After three experimental seasons, the platform has successfully integrated CARV, now offering high APR staking options for users.
As CARV advances in the AI sector, Web2 companies will benefit by accessing valuable user-controlled data, which is expected to drive further demand for the token. The total supply of CARV is set at 1 billion tokens, to be distributed over four years, with half reserved for community initiatives. Notably, 10% of the supply is earmarked for three seasons of airdrops, further incentivizing user participation.
The token allocation is structured as follows: 50% for Nodes and Community, approximately 19.46% for the Founding Team and Advisors, around 9.25% for Early Investors, 9% for Ecosystem and Treasury, 8.3% for Private Fundraising, and 4% for Liquidity.
To foster community involvement, CARV introduces veCARV on Arbitrum—a locked, voting-escrowed version of the token that increases voting power and encourages long-term staking. This initiative aims to deepen user engagement and align incentives within the community.
The project recently raised $10 million in Series A funding and facilitated a $35 million verifier node sale to drive protocol decentralization. Additionally, CARV has initiated a $50 million accelerator program to further support its growth. In 2024 alone, CARV has generated over $43 million in revenue, highlighting its financial strength and innovative approach within the web3 space.
The CARV team is also gearing up for a mainnet launch later this year, which will further enhance its data layer with decentralized sequencers. This upgrade will improve the ERC-7231 standard with Merkle trees for better data processing and privacy, as well as introduce an on-chain database solution for seamless CARV ID integration.
In conclusion, the launch of the CARV token represents a significant step toward empowering users in the gaming and AI sectors. With its innovative approach to data ownership, community engagement, and strong financial backing, CARV is poised to make a lasting impact on the digital landscape. As the project moves toward its mainnet launch and expands its ecosystem, it will be interesting to watch how CARV shapes the future of data-driven platforms.
October 2024, Cryptoniteuae