Web2-Web3 Bridging

With Clutch Wallet, the Web3 entry barrier for mobility users disappears.

For those who are new to blockchain wallets, they must endure the registration process, warnings about the risk of losing their private keys, and the inconvenience of having to store their Seed Phrase, which is a major entry barrier for Web3.

Clutch Wallet has introduced a step-by-step login system to provide users with sufficient adaptation time before entering Web3. This minimizes the entry barrier.

  1. Non-Login When mobility users first download Clutch, they can view major content without separate service registration.

  2. Social Login If users want to receive incentives acquired from the mobility service or participate in various missions in Clutch, they only need to proceed with a one-click social login process. In particular, the entry barrier has been lowered by providing methods familiar to Southeast Asian mobility users, such as Google, Apple, and Facebook. At this stage, the function of swapping mobility service points for MVL Points is also activated.

  3. Create and use blockchain wallet Users will become more familiar with Web3 through their activities in Clutch. If users want to exchange the MVL Points they have accumulated for actual MVL Tokens, they can create a blockchain wallet at this stage. The process of creating a Web3 account, such as recording the Seed Phrase and managing the Private Key, can be complicated for new users, so they can proceed at any time considering their own time availability, internet status, and help from acquaintances.

Web2 Mobility points can be exchanged for Web3 Crypto Asset.

Most Web2 mobility services operate their own point currency as part of their incentive system. These point currencies hold a stable value equivalent to cash within the service.

Clutch Wallet provides a Point to Token swap solution for Web2 mobility services to enter the Web3 ecosystem. The user's mobility points held in Clutch Wallet will be exchanged with MVL Points, which can be converted to actual MVL Tokens at any time. As a result of the exchange process, periodic settlements occur between the mobility service and MVL Foundation, which effectively has the same effect as MVL buybacks.

Users only need to connect their Clutch Wallet and mobility service account once. After that, users can exchange various mission rewards obtained from the mobility service into MVL at any time through Clutch Wallet.

MVL contributes to blockchain mass adoption through groundbreaking UI/UX improvements.

While maintaining the security, we have introduced a solution for distributing private keys to alleviate concerns about storing personal seed phrases. The user's private key fragments are distributed among the user, MVL, and a third party, and recovery can be carried out if 2 out of 3 parties match the user's social login account. This reduces the user's concerns about losing their private key.

We have improved the wallet UI to allow users to view various token assets from multiple networks at a glance. In the future, various missions will be carried out on Clutch Wallet, and users can also acquire third-party tokens. We have improved convenience so that users can easily view these various assets without selecting a network.

In addition, various on-chain activities can also be easily carried out through Clutch. Currently, connection to the Web3 homepage through the Dapp browsing function, on-chain swap (Trade) that helps exchange between tokens, and participation in various liquidity supply programs (Staking) provided by MVL are prepared. In the future, we plan to provide various on-chain programs for MVL token holders through Clutch.

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