Check MVL's Blog to get insights into

MVL's project-building journey

Check MVL's Blog to get insights into

MVL's project-building journey

Blockchain[MVL 2.0 Concept Paper] 1. Wallet : Allow MVLers to Engage More in MVL Ecosystem

12 Nov 2021

In the first half of 2021, the basic concept of MVL 2.0 was unveiled through an online conference.

๐Ÿ‘‰ MVL 2.0 Online Conference 

MLV 2.0 is the beginning stage for breaking down the limits of the traditional mobility industry. It is an evolution for the existing MVL 1.0 which has built a real-world business foundation for the mobility ecosystem and aims to more closely connect the real business that has been developed so far with the blockchain.

And now, we would like to reveal the detailed concept from the MVL 2.0 Concept Paper.


With the slogan of “Solve Real World Problems via Digital World,”  the MVL 2.0 Concept Paper includes MVL's missions and blockchain utilized solutions for MVL to solve in the mobility industry through four concepts: Wallet, De-Fi, NFT, and Game.

Among these four concepts, the first concept to introduce is "MVLer and Wallet.”

 Wallet : Allow MVLers to Engage More in MVL Ecosystem


Since introducing the MVL project to the world, the MVL team had fundamental concerns about maintaining the MVL ecosystem, which directly affects the success of the project. One of the main concerns was “an effective reward system for participants who voluntarily help to maintain the ecosystem.”

MVL ecosystem participants consist of "mobility users" who are using the MVL mobility service and "MVLer" who hold MVL tokens. In the previous MVL 1.0, the MVL incentive system for ‘mobility users’ was introduced to make a strong distinction from other ride-hailing competitors. In fact, the number of mobility users rewarded through the MVL intensive system is 20,000, and the amount of MVL provided through MVL incentive is about 30,000,000 MVL.

In MVL 2.0, we aim to offer ‘MVLer’ a solid compensation system, same as the incentives received by mobility users and provide fair compensation to both MVLer and the mobility users participating in the ecosystem.

The Influx of MVLer and More Rewards

The first step to giving ‘MVLer' a solid compensation system is to help them use ‘MVL Wallet' outside of the exchanges. It is important to receive various participation rewards more easily and more quickly without going through the exchanges.

However, our team was concerned if problems such as the loss of Private Keys could cause somewhat significant damage to the entire business service. In addition, most Southeast Asian drivers are unfamiliar with blockchain services, so it is not easy for them to accept the concept of the possibility of losing entire assets by a single loss of Private Key. Therefore, if this part is not resolved, the expansion of blockchain services, the participation of holders, or compensation will not progress smoothly.

In response, the MVL team has begun to establish a compensation system for MVLers by creating a separate wallet that anyone can easily access and has less risk of losing private keys than the existing wallets.


โ–ณ portion of Wallet App 

The basic principles of Wallet can be summarized as follows.

  • Anyone can easily sign up through social logins, such as Google.
  • Private Key is distributed and stored in three places: individual, MVL team, and wallet solution team. If an individual loses the Private Key, he or she can restore it with support from two other places.

The wallet can be linked with various blockchain services such as MetaMask and planned to expand the service to allow direct access to MVL's owned services, affiliated services, and the various metaverse. In addition, NFTs related to drivers and vehicle data mentioned in the past will also be stored in the relevant wallet.

๐Ÿ‘‰ MVL 2.0 NFT post

Then, what can MVLers do with their Wallet? Other than deposit/withdrawal, the basic function of the wallet.

MVLers will be able to access various MVL services through the ‘Wallet’. You can receive various Airdrops (including MVL tokens as well as other tokens’ Airdrops available for MVL services), and you can also participate in various events for MVL long-term holders, including De-Fi and Staking, with this Wallet.

In this way, the MVL Wallet will offer various options, except for trading, that can be done with MVL, and help MVLers play various roles as participants in the ecosystem. Further details will be released at the end of November 2021 with the official launch of the Wallet.

The Wallet's open specs only include deposit/withdrawal functions. However, the specs containing the functions for 'compensation' mentioned above, are updated sequentially in the wallet.

The update will not take a long time, so please wait patiently.

In the future, the MVL wallet will be the center of the MVL ecosystem to provide various services. The MVL team will put the biggest efforts for MVLers to easily participate in various services and enjoy the value increase within the ecosystem. 

Enjoy the MVL 2.0 reward system for MVLers with MVL Wallet!

“De-Fi,” which is connected to one of the compensation functions available in the Wallet, will be released within the next week through the second MVL 2.0 Concept Paper.

Please stay tuned for more.



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.