What’s on X Space?– Part 1
Last updated
Last updated
Last week, on June 5th, we hosted an exciting X Space featuring MVL CEO Kay Woo and our amazing global ambassadors. We discussed our brand-new ‘Earn’ feature on MVL Fi website and gave a sneak peek into MVL’s long-term vision and future roadmap.
In Part 1 of our “What’s on X Space?” recap, we’re diving into: What is a lending protocol and how does it tie into MVL’s big picture?
Whether you missed the live session or just want a refresher, we’ve got you covered. Let’s dive in!
In simple terms, a decentralized lending protocol lets people lend and borrow funds without middlemen like banks and third party intermediaries. Instead, everything runs through smart contracts on blockchain, which keeps it secure, transparent and automatic. That means no need for a bank to manage the funds or approve the transactions.
It’s a similar concept to how a savings account works at a bank. When you deposit money into a savings account, you get interest in return.
With MVL Fi’s ‘Earn’ feature, it works the same way, but in a decentralized way. Users deposit USDC on the Ethereum network into the ‘Earn’ vault, and earn APY (Annual Percentage Yield) over time.
The important part is that no intermediary is involved to touch or allocate the funds in the vault. The funds are controlled by a smart contract, and only borrowers can access them through the protocol. That’s how DeFi lending protocols ensure lenders' funds stay secure and transparent.
Safety is at the core of how DeFi lending protocols work and we’ve taken extra steps to protect our users.
First, the beauty of DeFi lending is that the system is designed to protect lenders. Even if a borrower can’t repay, smart contracts manage risk and ensure lenders get their funds back.
That said, a potential risk in DeFi is smart contract security. To address this, we’ve built on top of Morpho, one of the most respected and well-tested DeFi lending protocols. It’s trusted across the industry for its performance and safety.
We’re also partnering with Api3 which delivers first-party oracle price feeds to ensure accurate data, prevent value leakage, and optimize yields. To start, we’re keeping a small liquidity pool to minimize initial risk. But with strong real-world use cases like Musubi and TADA, we expect the volume to grow significantly.
With smart contract protections, secure infrastructure, trusted partners, and a real-world business model, we’ve designed our lending protocol more safer and transparent.
At MVL, our mission is to develop innovative solutions to problems in the mobility industry using blockchain technology.
We started in 2018 with TADA, a zero commission ride-hailing platform. As we grew, we expanded into EV manufacturing and energy infrastructure to better support and attract more drivers, building a full-fledged real-world mobility network.
One major problem we identified, especially in Southeast Asia, is that many drivers struggle to get vehicle loans from banks due to strict credit requirements and high interest rates. To address this, we created Musubi, an onchain vehicle financing platform that connects investors with drivers.
Now that we have both a solid real-world infrastructure and working blockchain-based products, we can integrate the MVL token more deeply into the ecosystem and create more value. This is where MVL Fi’s lending protocol comes into play.
Lenders deposit USDC into MVL Fi’s Earn vault and receive APY over time.
USDC is borrowed using MVL tokens as collateral.
The borrowed USDC is used to purchase vehicle ownership NFTs via the Musubi platform.
These vehicles are rented to drivers, who pay rental fees in fiat each month.
The incoming fiat is used to buy back MVL tokens from the market and store them in custody to maintain the protocol.
In short, the MVL Fi lending protocol connects crypto investors to a real-world mobility network, with USDC and $MVL token playing a central role in powering the ecosystem.
MVL Fi and its lending protocol are the final piece of this ecosystem puzzle. It brings USDC capital into the system, allowing us to fund vehicle purchases through Musubi.
Then, we’re turning real-world value, cash from TADA rides and vehicle rentals, into MVL token, strengthening the token utility and creating a circular economy.
We aim to capture a significant portion of MVL’s market supply through a continuous cycle of converting real-world fiat into the blockchain ecosystem. This will increase the scarcity and value of MVL, while reinvesting that value to:
Empower more drivers,
Expand to more regions,
Scale services like TADA and Musubi.
MVL is proving that blockchain can transform the mobility industry. We’re building a system where investors, drivers, and users all grow together.
