CARV Launches Its Native Utility Token, $CARV, Built on the Base, an Ethereum Layer 2 Network

CARV has taken an enormous step forward by launching its native utility token, $CARV, built on the Base, an Ethereum Layer 2 network.

Web3 gaming platform CARV has announced the launch of its native utility token, $CARV, built on Base, an Ethereum Layer 2 network.

The token is now available on eight major centralized exchanges (CEXs), including Bybit, KuCoin, and Bitget. A portion of CARV’s purpose is to help gamers and AI developers gain more control over their data.

The $CARV token is the key to unlocking everything in CARV’s ecosystem. With $CARV, you can access CARV Protocol, CARV Play, and CARV Labs. It is like a bond that keeps everything connected, allowing users to join in on decisions, suggest new features, and even own CARV nodes. They’ve put aside 40 million $CARV tokens to spread the network even more, giving users a chance to make money while helping to protect the platform.

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

CARV’s Chief Operating Officer, Victor Yu, expressed excitement about the event. “Our TGE is our landmark in CARV as we continue to allow gamers and AI developers to take ownership of their data. With $CARV, we are further progressing toward establishing a fair data economy.”

What Can You Do with $CARV?

For gamers, $CARV is a big deal. Following three successful experimental seasons, CARV’s play-to-earn economy, Infinite Play, now integrates $CARV. Gamers can stake $CARV tokens with high APR, which means better rewards for playing. Meanwhile, with more developments in AI, Web2 firms might need $CARV to gain access to relevant user-controlled data, thus increasing the demand even further.

It’s not only the gaming aspect; $CARV owners are stakeholders in the platform’s expansion. They can propose new additions to change CARV to a user-initiated project. You can secure your $CARV tokens via veCARV (CARV’s voting setup on Arbitrum). You can also boost your voting power by pushing for extended staking.

CARV Mainnet is LIVE on @arbitrum!

? Node operators, get ready for new rewards! Update your CLI tools to transition from Alphanet to Mainnet for uninterrupted participation.

⚡️ Don’t forget: uptime and slashing rules apply. Full guide – https://t.co/EiukFiRBeE https://t.co/kO6LQ9CZMs

— CARV (@carv_official) October 11, 2024

$CARV Tokenomics

$CARV’s total supply is 1 billion tokens, but don’t worry; they won’t all hit the market at once. They intend to use up the entire stock within four years, sharing 50% with the community. This is its token allocation:

Source: CARV document

What’s Next for CARV?

It has also secured $10 million in Series A funding, sold $35 million in its verifier nodes, and begun a $50 million accelerator. In the first three quarters of 2024, they generated more than $43 million in revenue. CARV mainnet is live. The team is also involved in integrating decentralized sequencers, amplifying privacy with Merkle trees, and making on-chain database solutions to integrate identity with speed.

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