What is Carv ($CARV)?

This article from Bitrue will explain the meaning of the Carv ($CARV) token in a complete and simple way, making it easy for readers to understand. Let’s read the explanation below until the end.

What is Carv?

Carv is the most comprehensive Identity and Data Layer foundation that connects over 900 games and AI companies, reaching more than 10 million players. Carv serves as a bridge for the world of gaming, AI, and other data-driven industries.

Carv is known to have three main pillars: CARV Protocol, CARV First Party Applications, and CARV Labs.

What is the $CARV Token?

The $CARV token is the official currency within the CARV ecosystem. It functions as a medium of exchange for various activities on the platform, from purchasing in-game items to participating in the decision-making process for ecosystem development. By owning CARV tokens, users indirectly own a stake in the data they generate.

$CARV Governance Signals

1. Regular (retail) CARV users can enjoy various premium benefits, such as paying transaction fees (gas) across different blockchain networks, purchasing in-game assets, and more.

2. Gaming projects or other platforms can utilize the CARV protocol’s ongoing utility to access comprehensive and unified information on player profiles.

As a modular data layer, the CARV protocol offers various incentives for data owners, data service providers, and data users to participate in the ecosystem.

3. CARV tokens can be converted into veCARV tokens on a 1:1 basis through a staking mechanism.

What is veCARV?

veCARV, short for voting-escrow CARV, is a special non-transferable token. This token plays a crucial role in the CARV ecosystem. 

First, veCARV grants voting rights to its holders in protocol decision-making. Second, veCARV also serves as an incentive for node operators who play a key role in maintaining the security and smooth operation of the CARV network.

Lastly, veCARV can be exchanged back into CARV tokens, but with predetermined time and exchange rate conditions.

$CARV Token Distribution

The total supply of $CARV tokens will be 1 billion, and these tokens will be distributed gradually over four years, starting from the token launch. The initial distribution of $CARV tokens for the first four years is as follows:

1. Community & Nodes (50%): The majority of the tokens will be allocated to reward the community that contributed to the success of the project.

2. Ecosystem & Treasury (9%): A portion of the tokens will be reserved for ecosystem development and future project needs.

3. Early Investors (9.246%): Investors who have supported the project from the beginning will receive token allocations.

4. Private Fundraising (8.295%): Investors who participated in fundraising rounds will receive a share of the tokens.

5. Founding Team & Advisors (19.459%): The core project team and advisors will receive token allocations as a reward for their contributions.

6. Liquidity (4%): A portion of the tokens will be allocated to ensure smooth transactions in the market.

Conclusion

As the project's ecosystem continues to develop and attract new users, CARV is expected to see an increase in value, offering a promising opportunity for investors. 

Despite market uncertainties, Carv's innovative features and expanding user base suggest it could be a valuable addition to any crypto portfolio.

To make the most of this opportunity, consider buying or trading CARV on Bitrue. This platform offers an accessible way to engage with CARV and potentially capitalize on its future growth. Don't wait start trading CARV on Bitrue today!