The CAR token is now purchasable. Its network, Supercars have launched the token and they have received listing on CoinGecko today. CAR is Supercars ecology’s digital proof of interest. The reason for the foundation of the CAR token is to distribute revenue that the Supercars ecology created to all CAR holders. They will do so with the use of smart contracts.
The SuperCars platform’s token is just the CAR token. In addition, it is also CarDAO’s only equity credential. The total supply of the CAR token is 300,000,000 units. The CarDAO has capped the initial circulation of the CAR token at 6,000,000. And the self-governance organization of Supercars does not make any centralized organization have the right to give another circulation amount. In addition, its initial price on CoinGecko is $1.94 with a trading volume of $282,180.
The Importance of the CAR Token
Based on Supercars’ whitepaper, the CAR Token also represents the Trust and the Consensus Value of the Supercars blockchain. It is also what the network uses to give incentives and rewards to its users. These bonuses are essential to the blockchain’s team for they believe it stimulates participation in their network.
In addition to its incentive functions, the CAR token also provides revenue and governance factors. From the perspective of revenue, in the ecological system, CAR is a representation of the value increase of Supercars. In terms of governance use, on the other hand, CARs are asset certificates that allow you to take part in the network’s decision-making.
Anyone can join the CarDAO to help collectively mint CAR’s initial circulation token. It has a minimum of 100 and a maximum of 500 individual quotas. To ensure that the CarDAO organization’s governance is decentralized, the network made sure that the global founders are totally functioning in a decentralized manner.
Following that, CarDAO members will mine all of the CARs made in the SuperCars program using PLAY-TO-EARN and CREATE-TO-EARN. The Technology R&D Center does not issue initial passes. In relation to this, members of the CarDAO group are the ones creating CAR. After the pass goes into circulation, the technical operator only keeps 1% of each CAR in DEX sale as R&D money to support the ongoing development of the SuperCars ecology.
The team has npw set Supercars to begin the second phase of its ecology development. They have been successful in their first phase. They were already able to recruit their global founders and have officially launched their native token, CAR. With this, they have also activated the “LP Staking Pool” for the CarDAO equity credential.
In addition to this, the network has completed its first-ever beta testing. They have launched their racing car NFTs and have enjoyed the returns by activating the super parking lot racing car storage privileges and benefits.