CARV announces up to 100% node buyback program to accompany its node launch and hyperscale its data layer over Chainwire

SANTA CLARA, California, May 10, 2024, Chainwire

CARV, the leading modular data layer for gaming and artificial intelligence, is pleased to announce an industry-first node buyback program for its upcoming Verifier node sales. This program allows node buyers to opt for a buyback of up to 100% of the post-launch token from the CARV treasury. The innovative design aims to protect participants and encourage global contributions to CARV decentralization, creating a more stable and robust infrastructure for a user-owned Internet.

According to Techcunch, CARV is known for its gaming and artificial intelligence applications used by millions and its modular data layer that supports more than 750 companies. As the CARV ecosystem expands, running verifier nodes is essential to maintaining integrity and security in your decentralized data processing environment. The first few months after the launch of CARV nodes are critical to establishing stability, participation, and fair distribution. To address market volatility and ensure user trust, the dedicated CARV community proposed the node buyback protection mechanism.

CARV is committed to pushing boundaries and setting new standards. The 100% node buyback program pioneers a mechanism that encourages true decentralization and allows the community to confidently participate in building the foundation of a sustainable, user-owned Internet.

How the up to 100% buyback program works

• Eligibility: Node license holders who have maintained a 70% or higher participation rate and have not redeemed any veCARV rewards for $CARV (veCARV is a non-transferable token primarily used for protocol governance) will be eligible for the buyback program.
• Timeline: Starting six months after the Token Generation Event (TGE), node licensees have 7 days to participate in the Program.
• Execution options:
• 100% Buyback with $CARV, value equivalent to the price of the nodes denominated in USDT at the time of purchase of the node. Linear acquisition of 30 days from the time of buyback. EITHER
• 80% immediate buyback on ETH, value equivalent to the snapshot price of the nodes in ETH at the time of purchase. Immediate release of ETH.

10,000,000 $CARV is allocated from the treasury to ensure a 100% buyback with a linear vesting period of 30 days. Node licensees will retain all previous airdrops, unaffected by the Buyback Program.

Some of the repurchased nodes will be reassigned to existing active node operators to further incentivize their participation. The rest will go to the CARV treasury, with potential uses including sharing node trading rewards with $CARV participants or reselling or burning nodes.

Adjusted schedule for the sale of the CARV node

To accommodate the implementation of the Up to 100% Buyback Program, the schedule for the CARV Node Sale has been adjusted as follows:

• Whitelist Node Sale Launch: May 24, 2024 at 12 pm UTC (available for 4 days)
• Public node sale launch: May 28, 2024 at 12 pm UTC

The up to 100% node buyback program sets a new standard for node investments, reflecting CARV's ethos of putting users and its community in the driver's seat. CARV ensures a solid foundation for the CARV Node ecosystem, revolutionizing the way personal data is used and shared, paving the way for a user-owned Internet where people can legitimately benefit from the value their data creates.

To learn more about the sale of CARV nodes and how to participate, visit here or view the CARV white paper.

About CARV

CARV is the largest modular data layer for gaming, AI, and ∞, revolutionizing the way data is used and shared. To pioneer a future where data drives value for everyone, CARV has created CARV Protocol, the modular data layer integrated with over 40 on-chain ecosystems, and CARV Play, its super app and flagship games. CARV has over 2.5 million registered users, 700 built-in games and is the largest app on Linea, opBNB, zkSync, Ronin and more. CARV is backed by top-tier funds and ecosystems such as Vertex (NASDAQ 🙂 by Temasek, ConsenSys (developer of Metamask), Tribe Capital, IOSG Ventures, HashKey Capital, Infinity Ventures Crypto, MARBLEX and more. For more information, visit carv. io.

ContactCo-founder and COOVictor Yu[email protected]

This article was originally published on Chainwire.