CARV Coin Launches $CARV Token Across 8 Exchanges, Including Bybit

NAIROBI (CoinChapter.com)—CARV, a platform focused on gaming and AI, officially launched its utility token, CARV, on Oct. 10 across eight centralized exchanges. The launch, which includes Bybit, KuCoin, HTX, and Bitget, marks a significant step in the company’s mission to transform Web3 data ownership. Built on the Base blockchain, CARV allows holders to engage in governance and shape the future of CARV’s ecosystem.

CARV Coin on Bybit: Enabling Governance and Decentralization

The CARV token serves as the backbone of the CARV ecosystem, including CARV Protocol, CARV Play, and CARV Labs. Moreover, holders can propose new features and vote on governance issues, giving them control over the platform’s direction. Additionally, 40 million tokens have been allocated for node ownership to further decentralize the network.

Victor Yu, COO of CARV, described the launch as a crucial step in enabling users, especially gamers and AI developers, to take control of their data.

Token Distribution and Mainnet Launch Plans

Specifically, CARV’s play-to-earn platform, Infinite Play, integrates the CARV token, providing gamers with high-APR staking opportunities. This has added utility to the token, attracting users to engage more deeply with the ecosystem. Additionally, Web2 companies also benefit by accessing user-controlled data, adding another layer of value to the CARV coin listing.

CARV’s total token supply is capped at 1 billion. Half of this is reserved for community initiatives, including 10% for airdrops over three seasons. Beyond staking and governance, CARV’s utility extends to Web2 companies that seek access to user-controlled data, driving demand for the token.

In addition, CARV introduced veCARV, a locked version of the token on Arbitrum, which encourages long-term staking and enhances governance involvement. In addition, CARV raised $10 million in Series A funding and generated $43 million in revenue in the first three quarters of 2024.

Looking ahead, CARV plans a mainnet launch later this year. Notably, the mainnet will enhance the ERC-7231 standard with Merkle trees for data processing and privacy, as well as introduce an on-chain database solution for CARV ID integration.