The vision of Carnomaly is to make the technology of blockchain and cryptocurrency approachable and valuable for car owners across the world.
Whether it’s finding an auto loan or buying and selling a car with cryptocurrencies as a medium of exchange, the combination of blockchain tech and the auto industry holds deep value.
In every phase of the automotive supply chain, the contribution of Carnomaly is to bring accessibility, security, and transparency by leveraging the benefits of blockchain.
Carnomaly has also struck a partnership with the National Motor Vehicle Title Information System, or NMVTIS, to acquire reliable and secure vehicle title data. The information system helps protect consumers from fraudulent and unsafe vehicle purchases or falling prey to buying stolen vehicles.
The Carnomaly platform operates through three of its applications that converge to fulfill a single mission, which is strengthening the car ownership experience with innovative technology. Before we delve deeper into the necessity and use of our utility tokens (CARR Tokens) and how and where you can buy them, let’s look at these applications one by one.
CarrChain Digital Car Management System
The CarrChain digital car management system will run through web-based applications that make it easy to manage and update a vehicle’s online profile.
Its comprehensive history report comes packed with information on all relevant areas of car purchase and maintenance. It includes the car’s aggregate maintenance details, registration status, claims information, and information from the dealers, insurers, collision centers, and DMVs. With CarrChain’s information management system, it also becomes convenient to maintain a log of the car’s maintenance activity, such as oil changes, tire replacements, and get customized suggestions on the car’s requirements for engine oil, local repair shops, etc. Updating a vehicle’s profile at regular intervals has its perks. The more updated the profile is, the more is the car’s reputation score, giving you, as a seller, a competitive edge.
CARRDefi Auto Loans
Positioned as the future of the automotive marketplace, CARRdefi leverages a decentralized blockchain system for users to reap the benefits of the traditional automotive lending industry without having to depend on traditional banks and lending institutions. So while you can borrow crypto-secured loans for your next vehicle purchase, you can also use Carnomaly’s native CARR Tokens to lend and earn a higher rate of return.
Carnomaly
Finally, the Carnomaly platform is where you can buy your next vehicle with crypto. You can choose your specific variety of cars from a wide-ranging list of Trucks, Coupe, Sedan, SUV, Convertible, or Hatchback. You can pay with Bitcoin, Ethereum, Litecoin, or the CARR Token, which will soon come with the provision of 1% savings.
How and Where are CARR Tokens Sold?
By now, you have seen that CARR Tokens, our own utility token, fuel the Carnomaly economy. CARR plays a crucial role in both the DeFi auto-lending system and the economy of car purchase. The question is, where do you buy CARR Tokens — and how?
Currently, CARR Tokens are available on the following exchanges: KuCoin, ExMarkets, LAToken, P2P B2B, and Probit.
By now, you have seen that CARR Tokens, our own utility token, fuel the Carnomaly economy. CARR plays a crucial role in both the DeFi auto-lending system and the economy of car purchase. The question is, where do you buy CARR Tokens — and how?
CARR Token on the KuCoin Exchange
Buying CARR Tokens on the KuCoin Exchange
KuCoin ranks as the top exchange platform in globalization deployment. With its accumulated number of trades having crossed the mark of 815 million already, KuCoin has facilitated a transaction volume of more than 424 billion USD so far.
Available data suggests that 1 out of 4 crypto holders across the world is with KuCoin. To buy CARR Tokens through the KuCoin exchange, you can use either its website or apps. The applications are available for download on the iOS app store and Google Play Store.
To sign up for KuCoin’s exchange services, you need to open an account by phone or email. Then, depending on the avenue you choose to use, you will get a verification code, either on your phone or your mail-id. There is also the optional provision of referral codes.
Once you have opened your account in the exchange, you can trade CARR, either in exchange for USDT or BTC. The spot trading services of CARR with USDT or BTC have three trading options: limit, market, and spot limit.
KuCoin has a tiered fee structure for Spot trading, applicable for the CARR trading pairs as well. You can belong to any level between level 0 and level 12, depending on your last 30-days trading volume. The maker fees can fall anywhere between -0.005% and 0.1%, while the taker fees can be anywhere between 0.025% and 0.1%. You will get a discount on your trading fees if you use KuCoin’s native KCS tokens.
CARR Token on the ExMarkets
The CARR Token IEO sale or Initial exchange offering started on January 26th of 2021, and continued till March 10th of 2021. Out of CARR’s total supply of 530 million tokens, 250 million went on sale through ExMarkets. The sale started for $0.65 against the currencies of BTC, ETH, and USDT. At present, it is only available as part of USDT and BTC trading pairs.
CARR Token on LAToken
The CARR Token IEO on the LAToken platform happened in three rounds. The last round of the IEO happened between March 5th and March 12th. At the time of its IEO on the LAToken platform, the market capitalization of Carnomaly was $4.3 million. In LAToken, the available CARR trading pairs were USDT, ETH, and BTC.
CARR Token on Probit
CARR Tokens were listed on Probit for an IEO between the period of March 2nd, 2021, and March 12th, 2021. Buyers could avail of a 20% bonus with PROB tokens, while exchanges with BTC, ETH, XRP, and USDT resulted in a 10% bonus.
CARR Tokenomics
Apart from being a medium for exchange, CARR Tokens, from a user’s point of view, are an instrument to earn rewards on vehicle maintenance and purchases. Once you purchase some CARR Tokens and set up an account on CarrChain, you become eligible to receive your rewards. In addition, CARR Tokens enable incentives on a new or used car purchase, incentives on car-servicing, enhanced vehicle history reports, and exclusive early access to prime DeFi pools.
The distribution pattern of CARR Tokens dictates that 47.17% of its tokens will go into the IEO, while 10.38% percent will go towards a private sale. Thus, 30.19% of the tokens are allotted to the Carnomaly ecosystem, while 1.89% will be used for mining/data services. The rest of the 10.38% are private company tokens.
The corresponding capital allocation of Carnomaly shows that 45% of its CARR Tokens will go towards the development of the Carnomaly automotive platform and CarrChain, 20% will go in advertising, while another 20% is earmarked for operations and expenses. The rest of the 10% is kept for legal expenses, while another 5% is dedicated to the reserves.
