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MVL Incentive Protocol

The MVL ecosystem is growing together with mobility service participants through the incentive protocol.

Various incentive programs are provided for participants in the mobility services of the MVL ecosystem. Through the incentive protocol, it is possible to improve the service quality of drivers and increase the service experience of passengers. In addition, it is effective in strategically improving services, such as targeting the improvement of passenger reuse rates or resolving imbalances between demand and supply at specific times.

In particular, incentive strategies considering service growth stages and demand-supply status have greatly contributed to TADA's explosive growth. Missions are conducted in a game-like mission format within TADA and ONiON services, so mobility users can easily enter the Web3 ecosystem without special entry barriers and enjoy various benefits.

Mission contributions and MVL token rewards for incentives will be transparently recorded on the blockchain.

Contribution data such as driver and rider incentive mission participation and achievement will be transparently recorded on the blockchain. In particular, to protect personal information, the driver's contributions are managed as an NFT called Driver Passport, and only the driver, who is the data owner, can understand the data.

Incentives for mission achievement, consistent participation, etc. are paid in MVL Tokens and are transparently disclosed to anyone on the public blockchain network. However, for the convenience of most mobility users, both points and tokens are currently used in the payment process.

(Key Point) To successfully apply Token Incentives to popular services used by many people, blockchain products and infrastructure must be provided for general users.

  • In other words, Incentive missions using MVL Tokens should be easily applicable and user-friendly in various Web2 mobility services like TADA. Therefore, MVL Points with the same value as MVL Tokens are initially provided within mobility services.

  • Users can exchange MVP Points they acquired through Clutch Wallet for the same amount of MVL Tokens at any time. Clutch Wallet is MVL's official blockchain wallet that drastically improves UI/UX to make blockchain infrastructure easy for anyone to use.

  • Successful 1:1 exchange between a user’s MVL Points and MVL Tokens must be guaranteed. Therefore, MVL strictly manages this through MVL Treasury and smart contracts. In other words, to issue a certain amount of MVL Points, an equal amount of MVL Tokens must be stored in the Treasury through a smart contract.

  • Incentive protocol's core is blockchain. Point issuance and burning are managed by smart contracts, so the risk of reckless issuance is prevented, and all transactions are strictly and transparently monitored on the blockchain network.

You can utilize MVL Tokens provided as incentives to access various services.

Currently, you can use MVL Tokens for liquidity provision rewards (staking) on the blockchain network, and you can participate through MVL Bridge (https://mvlbridge.io/)

Starting from September 2023, you will be able to use MVL Tokens to purchase various services and products, such as discount coupons for TADA ride-hailing services or battery swap vouchers for ONiON T1 drivers. Additionally, we plan to continue expanding the usage of MVL Tokens through new product development and partnerships with various partners.

For more detailed information about MVL Tokens, please refer to the following link (https://docs.mvlchain.io/mobi-blockchain/token-economy/token-and-nft).

For more detailed information, please refer to the following links:

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