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MVL's project-building journey

Blockchain[MVLog] All About the Renewed Clutch: A Unique Crypto Wallet for the Mobility Blockchain Ecosystem

10 Oct 2023

In our last episode of MVLog: Full-Fledged Start of MVL’s Blockchain Mobility, we covered the overall summary and introduction of the technology and business achievements that MVL has made since its founding in 2018. In this episode, we’re going to take a closer look at MVL’s recently revamped cryptocurrency wallet: Clutch. 

Why has ‘Clutch wallet’ come into existence?

MVL's official cryptocurrency wallet, Clutch, was first introduced to the world in March 2022. The name Clutch itself embodies two meanings - one related to a flat small handbag or wallet and the other to a device used for manual transmission in a car. These two meanings are reflective of the role that Clutch plays within the MVL ecosystem.


Q. Why is it named ‘Clutch’? 

PM: Clutch is an ambiguous word that can mean both a wallet and a device used for manual transmission in a car. We wanted to express a cryptocurrency wallet intuitively, while on the other hand, we also wanted it to symbolize the role of facilitating the connection in the blockchain and mobility ecosystem, much like how it connects and disengages power in a car to enable smooth gear shifting.

What sets Clutch Wallet apart from other crypto wallets?

Currently, there are various cryptocurrency wallets in the market, such as MetaMask, Kaikas, Trust Wallet, and many other wallets, that take the form of hot wallets. While these widely used wallets are not very challenging for experienced crypto users to access, they still pose significant entry barriers for newcomers to blockchain due to unfriendly UI/UX, fees, and private key management issues. The majority of MVL Mobility Service users in Southeast Asia are newcomers to blockchain. Clutch Wallet was created to address the problems associated with existing cryptocurrency wallets and to provide an easy and convenient way for users like these to enter the Web3 environment.

Now let’s delve into how Clutch Wallet differs from typical cryptocurrency wallets and what efforts we have made to lower the entry barriers for users who are new to blockchain!

One, 3-Step Login System and Social Login Feature

Clutch introduces a 3-step login system, unlike regular cryptocurrency wallets, providing users with sufficient time to adapt to the Web3 environment. More information about this is explained below.

Two, 2/3 Private Key Recovery Mechanism

To maintain the security core of blockchain and alleviate concerns about private key storage, Clutch has implemented a solution for distributed management of private keys. In simple terms, a user's private key fragments are distributed among three entities: the user, MVL, and a third party. If two of these entities match the user's social login accounts, account recovery can be initiated. This reduces worries about losing one's private key for the user.

Three, User-Friendly UI/UX and Diverse Contents

Clutch focuses on implementing user-friendly UI/UX through continuous updates. One of its advantages is the ability to view various token assets from different networks without network changes. Users can also experience various contents, including missions and a shop feature.

What else does Clutch do besides being a cryptocurrency wallet?

MVL’s Clutch wallet plays a central role in connecting various mobility services, users, assets, and data to the blockchain within the MVL ecosystem. By implementing the MVL Incentive Protocol, users of TADA and ONiON Mobility can exchange the points they earn through using these services for MVP and MVL, enabling exchange into cryptocurrency as well as cash conversion (currently available in Cambodia). MVPs that are not cashed out can be utilized again in mobility services. These are offered as various coupons and products in Clutch's store feature, starting with TADA Ride coupons and ONiON Battery Swap coupons, and gradually expanding to various product lines.

Mobility service users enter the Web3 ecosystem by exchanging MVP for MVL tokens through the clutch. MVL tokens exchanged by users can be sent to exchanges, swapped for other cryptocurrency at any time, and can be further rewarded by participating in staking to contribute to the MVL blockchain ecosystem.

Introducing our newly revamped Clutch!

So, what’s different now?

Previously, Clutch was a simple crypto wallet that could be connected to TADA to receive ecosystem participation rewards, as well as store and manage cryptocurrencies and tokens. However, we are continuously developing it to become a hub that can create ecosystem synergy by connecting MVL, TADA, and ONiON Mobility. Therefore, with this revamp, we have improved the UI/UX to make it easier for users unfamiliar with crypto wallets and web3 to learn and experience blockchain-related features. This allows users to participate in continuous service provision and app activation, and contributes to making the blockchain ecosystem more accessible.

Here are more details about this Clutch update:

  1. Users can explore all tabs except the Wallet tab in Clutch before logging in.
  2. The UI has been improved to integrate the wallet structure that was separated by blockchain network, allowing users to view it on one screen without selecting a network. The settings UI and overall UI have also been improved to be more user-friendly.
  3. Added the features to swap MVP to bMVL and transfer it to an external blockchain wallet, as well as the feature to transfer MVP between Clutch users.
  4. Klaytn Network blockchain wallets have been added, and GXA tokens are now supported in Clutch.

Full Implementation of the Mobility Incentive Protocol with MVP in Clutch 

In Clutch, MVP stands as an incentive point system that holds a 1:1 value with MVL Tokens. What makes MVP point unique is its role in enabling access to Web3 for mobility services, distinguishing them from the typical web2 service point incentives. A crucial feature here is the point to token swap, which effortlessly converts MVP points into MVL tokens, reinforcing web3 connectivity. 

Earning MVP points is achievable through daily mission participation within Clutch. Additionally, users who connect their TADA account with Clutch receive MVP points as rewards. At any given time, users have the flexibility to exchange these accumulated MVPs at a 1:1 rate for MVL tokens.

To maintain a consistent value between MVP and MVL tokens, we employ smart contracts that carefully regulate the issuance and burning of MVPs. When MVL tokens are locked up, the system generates an equivalent amount of MVPs, and MVL tokens are only unlocked when MVPs are burned.

Furthermore, a "Shop" tab will be added to Clutch, allowing users to purchase vouchers and products from TADA and ONiON using MVP points to benefit from MVL mobility incentives. This interconnected asset structure is expected to boost the adoption of MVL tokens among Southeast Asian users and promote the overall growth of the MVL ecosystem.

Ultimate User Guide to Clutch

Users of Clutch are free to explore all tabs except the wallet tab, even without signing up. If you're curious about what Clutch has to offer, download the app to take a closer look! 

  • After signing up through social login, users will gain access to Clutch's Web2 features. With these, users can enjoy various benefits, such as earning MVP points through daily missions and mini-games, connecting with TADA, and receiving rewards for participating in MVL's ecosystem.
  • The next step involves activating the blockchain wallet and utilizing Web3 to enable its functions. By enabling Web3 features, users can perform various actions, including exchanging MVL Tokens and conducting external transfers with their blockchain wallet.

Clutch employs a security system with three essential elements: a private key, a PIN, and a seed phrase. The PIN is a 6-digit password that enhances the accessibility of Clutch. The private key is securely stored on mobile phones, providing users with access to their wallets. This key is composed of random numbers and letters, ensuring strong security for users' wallets. In case users ever lose their private key, they can safely recover their wallet using the seed phrase. 

For more detailed information, check out the links down below.

Clutch User Guide:

Download Clutch:

In celebration of this renewal, we have prepared interviews of MVLers who are planning and developing Clutch. Find out the primary focus of this update and how Clutch will unfold in the future through the interview down below ๐Ÿ™‚

๐Ÿ‘จ‍๐Ÿ’ป Mini interview ๐Ÿ‘ฉ‍๐Ÿ’ป

Q: What was the primary focus of this Clutch renewal update?

A: The ultimate goal was to create a more user-friendly wallet for everyone. Blockchain products can often be challenging for people who are not familiar with web3 services. This is especially true for users who are not familiar with the need to choose a specific blockchain network and use different wallets for each network.

To address this issue, we've conducted the renewal of Clutch. Now, instead of managing multiple wallets for different networks, users can easily check and manage their coins across all networks on a single screen. Our primary focus during this Clutch renewal was simplification, making it easy for users to interact with blockchain wallets. Now, all they have to do is select the coin they want to use and the appropriate network will be automatically chosen.

Q: Why were the benefits related to Clutch updates prioritized towards Southeast Asia?

A: Firstly, TADA and ONiON, which are MVL's core mobility businesses, primarily operate in Singapore and Cambodia. Given this, we made the strategic decision to focus on enhancing Clutch in this region, so that we can offer our customers a broader and more valuable range of benefits through Clutch. Particularly noteworthy is the fact that these two services are experiencing significant growth in Southeast Asia. We believe that by effectively utilizing the synergy that can be achieved through collaboration among these three companies, we can deliver services that users can truly experience and appreciate.

Q: What is the most challenging aspect of the development of Clutch?

A: Clutch represents a unique challenge for developers, as it stands at the intersection of two distinct data and logic paradigms. It's neither a wallet relying solely on on-chain data nor a Web2 application dependent solely on server data. The complexity of development arises from its mission to create value by effectively integrating these two data sources and their respective logic.

Q: What benefits and conveniences can the Clutch app bring to mobility users?

A: Firstly, it will be more closely connected with MVL's mobility services. For instance, we intend to purchase TADA discount coupons within the app, benefiting users who use TADA services in Cambodia. Moreover, we have plans to extend the advantages of Clutch beyond just passengers, including drivers and contributors in the mobility ecosystem, allowing them to benefit as well.

Q: How does Clutch differ from a standard crypto wallet?

A: Clutch was created with genuine care and consideration for users, with both development and design prioritizing user-friendliness. We've strived to make every interaction as seamless and comfortable as possible. For instance, we've minimized unnecessary steps, reducing the complexity of actions users need to perform within the wallet. This user-focused approach sets Clutch apart and makes it more convenient for users.

Q: What features do you hope users will make use of in Clutch through this update?

A: We encourage users to explore the mission function and strive to achieve MVP status daily. MVP points, equivalent in value to bMVL, can be easily earned by completing the missions we offer. These MVP points can be accumulated and used in our shop tab. We recommend purchasing a TADA coupon and utilizing it when using TADA services in Cambodia. Additionally, we have plans to introduce more missions in the future, so stay tuned for exciting updates!

Q: How would you describe the new Clutch app in one word?

A: I would describe it as a crypto wallet that is easier, more convenient, and closely integrated to the mobility ecosystem.

Q: Tell us briefly about the future plans of Clutch.

A: Ultimately, the goal is to serve as a central hub to connect all the participants in the MVL mobility ecosystem. In the short term, it will be used by mobility participants in Cambodia, including TADA riders and drivers. In the long term, it will expand to serve users of TADA services in other countries and ONiON EV users.

Stay tuned and look forward to Clutch's continued growth!

As stated in the interview, the ultimate goal of Clutch is to serve as the central hub of MVL's mobility ecosystem. The mobility ecosystem of MVL encompasses TADA ride-hailing services, ONiON Mobility electric vehicle and related infrastructure systems, and the MVL blockchain that connects all. We appreciate your support as we work towards connecting and growing this ecosystem.

We will see you again in the next post.

Thank you.


40 Sin Ming Ln, Singapore 573958

โ“’ MVL Foundation Pte. Ltd. All rights reserved.

40 Sin Ming Ln, Singapore 573958

โ“’ MVL Foundation Pte. Ltd. All rights reserved.