Emre Yumlu 
In the cryptocurrency world, blockchain technology offers innovative solutions to real-world problems. One standout project in this space is MVL, a platform aimed at sharing the value of data generated within the mobility ecosystem with all its participants. From the TADA taxi and ride-hailing service to ONiON Mobility’s eco-friendly vehicle production, MVL provides a wide range of services, leveraging blockchain to transform the mobility sector. So, what exactly is MVL, how does it work, and why is it gaining attention? Here are the details!
What is MVL?
MVL is a blockchain project focused on sharing the value of data generated by mobility platforms in a decentralized manner with all ecosystem participants. While traditional mobility platforms centralize and monopolize user data, MVL distributes this value among drivers, passengers, and other stakeholders to create a fair ecosystem. Over the past five years, MVL has built a comprehensive mobility ecosystem, spanning from taxi services to vehicle manufacturing. With its TADA and ONiON Mobility brands, MVL has established a strong presence, particularly in Southeast Asia.
MVL’s vision is to make mobility services more transparent, fair, and sustainable through blockchain technology. Offering ride-hailing via TADA and eco-friendly vehicles and energy infrastructure through ONiON Mobility, MVL records data on DePIN (Decentralized Physical Mobility Infrastructure Network) to develop new services and financial products.
MVL’s Key Features
MVL stands out by combining mobility and blockchain technology. Here are the platform’s core features:
1. TADA Ride-Hailing
TADA is a popular ride-sharing service in Southeast Asia, used by approximately 2 million people. Operating in Singapore, Cambodia, Vietnam, and Thailand, TADA holds a market share comparable to major services in Singapore. With lower fees and DePIN services powered by MVL Token, TADA has attracted over 3 million riders and 300,000 drivers. Daily trips have surged by more than 2000% compared to 2020, and in 2023, TADA surpassed Gojek to secure the second-largest market share in Singapore’s ride-hailing market.
2. ONiON Mobility and Eco-Friendly Infrastructure
ONiON Mobility, launched in 2021, is an eco-friendly vehicle and battery charging infrastructure brand. It produces battery-swappable E-TukTuk and E-Truck vehicles in its Cambodia factory and builds charging infrastructure like E-Stations. In June 2023, ONiON upgraded its T1 electric tricycle with T1s and T1l models, and in November 2023, it launched the X-Series electric bikes with a top speed of 80 km/h and a range exceeding 75 km. ONiON aims to lead the eco-friendly mobility trend in Southeast Asia.
3. Mobility Solutions
MVL offers a broad range of solutions, including delivery, logistics, truck management, limousine reservations, and designated driving:
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Single Delivery: Focuses on fresh food delivery, matching restaurants, drivers, and customers.
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Bundled Delivery: Collaborates with Singapore retailers, reducing costs by 30-50%.
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Truck and Cargo Management: Provides real-time logistics management in Vietnam.
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Energy Infrastructure Management: Offers battery owners real-time data tracking and revenue sharing.
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Driver Credit Evaluation: Provides financing through an alternative credit system based on TADA data.
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V2X Communication: Connects vehicles and batteries to control centers with real-time traffic and energy data.
4. MVL DePIN and Data Utilization
The MVL ecosystem generates real-time data from drivers, passengers, vehicles, and batteries. This data is recorded on DePIN and used for new services, such as vehicle RWAs. Participants are rewarded with MVL Tokens based on their contributions. The data enhances matching accuracy through map integration and supports innovative areas like autonomous driving.
5. Clutch Wallet
Clutch is MVL’s official Web3 cryptocurrency wallet, integrated with TADA and ONiON services, allowing users to securely manage their rewards. It offers user-friendly features like social login, 2/3 private key recovery, and MVL Points (MVP) linked 1:1 with MVL Tokens. Supporting Ethereum, Binance, Tezos, and Klayton networks, Clutch plans to expand to additional networks in the future.
MVL Tokenomics
MVL Token is the core asset of the ecosystem, sharing value derived from mobility services. The token distribution is as follows:
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Total Supply: Limited number of MVL Tokens
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Community: 16%
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Marketing and R&D: 30%
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Advisors and Team: 25%
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Burn: 7%
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Sale: 22%
MVL Token is used in the following areas:
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Use Cases: Purchasing coupons, swapping points, and paying for partnership services in Clutch Wallet.
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Governance: Token holders participate in ecosystem decisions through voting.
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Staking: MVL Bridge offers LP Staking (providing liquidity on ETH and BNB networks) and Single Staking (preparing for side chains).
The economic cycle operates by channeling revenue from mobility services into the Open Treasury. Tokens are purchased, stored, and distributed via smart contracts and governance, ensuring the organic connection between service growth and token value.
MVL’s Investors and Backers
MVL is supported by prominent investors, including SV Angel, Shinhan Asset Management, TRIVE, and Central. With approximately $30 million in equity investment, the project employs over 300 people across South Korea, Singapore, and Southeast Asia.
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