CARV Node’s Up-to-100% Buyback Program: Chaperone the Node Launch, Fostering a Decentralized, User-Owned Internet
The point of the CARV Node launch is to move toward a truly decentralized, community-driven internet, addressing the critical challenge of monopolization by large stakeholders in the early stages of network deployment. Sufficient participation from node operators is necessary to ensure the decentralization of the network, enabling scalability and security. Therefore, widespread involvement in nodes operation is necessary. We have heard voices from the community, including concerns about market volatility and the desire for insurance and protection when operating CARV nodes. In order to empower our community to participate confidently in building the foundation of a sustainable, user-owned internet, CARV is pioneering a mechanism: the ‘Up-to-100% Buyback Program’.
What is the Up-to-100% Buyback Program?
Execution options:
- 100% buyback with $CARV, value equivalent to the price of nodes denominated in USDT at the time of node purchase. 30-day linear vesting from time of buyback. OR
- 80% immediate buyback in ETH, value equivalent to the price of nodes snapshot in ETH at time of purchase. Immediate ETH release.
Eligibility: Node license holders who have maintained 70% or higher participation rate, and have not redeemed any veCARV rewards to $CARV (veCARV is a non-transferable token primarily used for protocol governance) will be eligible for the buyback program.
Timeline: From six months post Token Generation Event (TGE), node license holders have 7 days to participate in the Program.
To ensure transparency and security, CARV is integrating the 100% buyback program into smart contracts and collaborating with reputable, top-tier third-party auditors.
10,000,000 $CARV is allocated from treasury to ensure a 100% buyback with a 30-day linear vesting period. Node license holders will keep all airdrops prior to participation in the Program.
Some of the bought-back nodes will be reallocated to existing active node operators to further incentivize their participation. The rest will go to the CARV treasury, with potential uses including sharing node operation rewards with $CARV stakers, or conducting node resale or burning.
Adjusted Timeline for CARV Node Sale
To accommodate the implementation of the Up-to-100% Buyback Program, the timeline for the CARV Node Sale has been adjusted as follows:
- Whitelist Node Sale Launch: June 3rd, 2024, at 10 AM UTC+0 (available for 2 days)
- Public Node Sale Launch: June 5th, 2024, at 10 AM UTC+0
Anyone can join the waitlist and enter the raffle for a Whitelist spot, with a chance to win from a $50K prize pool at node.carv.io.
For more information about the CARV Node Sale, please read our announcement: https://medium.com/@Carv/carvs-node-sale-revolutionizing-data-ownership-in-gaming-and-ai-53fa052fa381
From 1x to 100x
CARV is pioneering the development of a modular data layer for gaming and AI. With the high potential of the CARV Node ecosystem and the security of the Up-to-100% Buyback Program, we are ensuring a robust foundation. This mechanism guarantees that CARV Node can quickly stabilize, constructing an incentive-aligned infrastructure that reimagines the internet, placing individuals at the core of their digital interactions. It offers the opportunity for a lifetime membership for passive income, a crucial step towards a sustainable, prosperous, user-owned internet, redistributing value in the AI revolution.
FAQs
Q1: Will node operators need to give up their airdrop tokens for the buyback program?
No, node operators will still receive airdrop tokens at the TGE. The airdrop tokens are separate from the Up-to-100% Buyback Program. You can claim the airdrop while being active node operators, and holding your node reward veCARV will not be a problem.
Q2: What are the rewards for running a node?
Up to 25% of the total token supply will be allocated to verifier node operators. The emission follows a release model with a 25% reduction every six months. For more details about Node Rewards, please visit CARV’s whitepaper: https://docs.carv.io/carv-protocol/verifier-node-explained/node-rewards#verifier-node-rewards
Q3: If I choose the buyback program, will I keep the veCARV earned as a node operator?
No, if you choose the buyback program, the veCARV earned as a node operator will also need to be returned to the CARV Treasury.
About CARV
CARV is building the modular data layer for gaming and AI, unlocking innovation with access to comprehensive, high-quality data while empowering individuals with data self-sovereignty.
