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CARV, a prominent modular identity and data layer for gaming and AI, has introduced its native utility token CARV.
As stated in the press release, CARV is now listed on eight exchanges, including Bybit, KuCoin, Bitget, HTX, Gate, BingX, HashKey Global, and MEXC.
The team indicated that additional exchange listings are forthcoming.
This token serves as “the governance and participation cornerstone of the CARV ecosystem.”
It allows holders to engage in decision-making and propose new features, thereby influencing the protocol.
The ecosystem comprises CARV Protocol, CARV Play, and CARV Labs, while its utility extends to “millions of gamers” through Infinite Play, CARV’s play-to-earn model.
According to the team, the token also enables holders to own, manage, and monetize their data.
Furthermore, as the project progresses in AI, they noted that Web2 companies will utilize the token to “access valuable, user-controlled data, generating additional demand.”
It’s CARVing time! $CARV is officially tradable on these EIGHT exchanges:
Bybit: https://t.co/w6IDA0OMrq
KuCoin: https://t.co/RLkVoWLOVs
Bitget: https://t.co/j9rc6kJxOt
HTX: https://t.co/yfirCrw8Q6
BingX: https://t.co/kfPBNaUUUr
Gate: https://t.co/4rMVz2hMpF
HashKey:… pic.twitter.com/u8gzowF3wd— CARV (@carv_official) October 10, 2024
Additionally, there are more updates from CARV today.
The team has also introduced veCARV on the well-known Layer 2 chain Arbitrum to allow users to “have their say.”
veCARV is a locked ‘voting escrowed’ variant of the CARV token.
This version enhances voting power and promotes long-term staking and “community-driven development.”
CARV can be converted to veCARV at a 1:1 ratio through staking.
Converting veCARV back to CARV necessitates an unlocking period.
‘A Compelling Case for Traders’
The total supply of CARV is 1 billion, which will be fully distributed over a four-year period.
Half of this total supply is allocated to the community, with 10% designated for three seasons of airdrops.
Our Airdrop Claim Page is now live!
It is the month of CARVtober
Start Claiming: https://t.co/AGGZIShjyB
Learn more about $CARV: https://t.co/t7MMK1YUHr pic.twitter.com/NfecmSrHC1— CARV (@carv_official) October 10, 2024
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In the meantime, nearly 20% is allocated to the founding team and advisors, around 9% to early investors, 9% to the ecosystem and treasury, and 8.3% to private fundraising.
The team stated, “based on CARV’s established revenue model and high-yield staking opportunities, $CARV offers a compelling case for traders.”
10. 10. 2024.
8 AM UTC.
It is about time we lead the gaming and AI fronts
This is the tweet. pic.twitter.com/k53UZU5kLF— CARV (@carv_official) October 7, 2024
Moreover, holders can obtain CARV nodes as 40 million tokens are set aside to “further decentralize the network and create new revenue streams.”
In line with this objective, CARV announced a buyback program for node holders.
You might also like CARV Unveils CARV Labs, a $50M Accelerator Backed by HashKey Capital and Consensys
Towards the Mainnet
CARV COO Victor Yu remarked that this launch is “just the beginning.”
The roadmap includes airdrops, gaming partnerships, and “innovative experiences driven by community governance.”
The team is currently preparing for the upcoming mainnet launch, scheduled for October 11.
Snapshot of the Alphanet was taken on October 7th, 00:00 UTC
You may stop running your node after this time.
The Mainnet will launch on Arbitrum on October 11th 00:00 UTC.
For more info: https://t.co/nhpgUy256i pic.twitter.com/9jtjxpDly2— CARV (@carv_official) October 7, 2024
They are also focused on other “key initiatives” for the rest of this year.
Among these is the expansion of its identity and data layer with decentralized sequencers and data verification.
Additionally, they will enhance the ERC-7231 standard, data processing, and privacy by integrating Merkle trees.
The team will also provide an on-chain database solution for instant identity integration with CARV ID.
Meanwhile, the project secured $10 million in Series A funding this year. In the first three quarters, it reported over $43M in total revenue.
CARV also initiated a $35 million verifier node sale and a $50 million accelerator.
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The post CARV Launches CARV Token, Listed on Eight Exchanges appeared first on Cryptonews.
