Hello MVLERs,
MVL Incentive program will be tested on TADA, a ride-hailing service, from 26th February in Singapore!
๐ What is MVL Incentive Program?
The ultimate goal of MVL is to build trust-driven mobility ecosystem based on blockchain. All data will be transparently managed within the MVL ecosystem and participants will receive incentives according to their contribution to the MVL ecosystem.
The test period will be the important step for us to see if mobility data is stored and analyzed well and if the incentive calculations are appropriate.
๐ The first experimental testbed of MVL is TADA Singapore
The MVL incentive program will be implemented to TADA Singapore, the first ride-hailing service of MVL Foundation. TADA Singapore was chosen to be the first testbed since Singapore has been the first strategic location for us. The government and people in Singapore are in favor of blockchain and cryptocurrency.
The number of riders who registered TADA is about 200,000, and the number of drivers is about 25,000. TADA users will earn MVL incentives as they use TADA services.
๐ Mechanism of MVL program
The most basic and important mechanism of MVL incentive program is to offer MVL Point according to their traveling data and prosocial behavior.
MVL Point can be earned by using TADA services and acting in prosocial manner.
MVL Point = Point from driving on MVL services + Point from acting in a prosocial manner
- MVL Point: MVL Point is total points earned from driving and and acting in prosocial manner. As TADA users accumulate the MVL Point, they can unlock higher MVL Level and receive various benefits. Drivers or riders who are placed in high MVL level is likely to be considered as “kind driver” or “friendly rider”. The higher MVL level you are , the more benefits you get.
- MVL Service(driving) Point: For example, MVL Point is provided based on TADA users' traveling data which will be recorded on our blockchain system. TADA users earn the MVL Point which is calculated by multiplying the coefficient to the distance traveled on TADA. Different coefficient is applied for drivers and riders.
- MVL Behavior Point: For example, MVL Point is provided based on TADA users' behavior. Depending on whether a driver has provided a friendly service to a rider or whether a rider has reviewed about the driver, the MVL Point will be earned. Driving habits such as reckless/violent driving or speeding will be negative MVL Point.
If you're interested in the more detailed, please refer to https://ewhk4.app.goo.gl/SJPj.
๐ MVL protocol in the future
After the test period of the MVL incentive protocol, some modifications will be made for official MVL protocol to be launched.
In the first half of this year, when the MVL mainnet is launched, TADA will be the world's first ride-healing service on top of blockchain technology.
The MVL incentive structure will become more sophisticated and MVL Point will be exchanged to MVL Coin.
In the future, drivers and riders who unlock high MVL LEVEL will better be matched to each other. The mobility ecosystem that MVL envision is where the prosocial drivers provide and riders receive good quality of services. The MVL incentive program will be the first step in achieving our goal.
Hello MVLERs,
MVL Incentive program will be tested on TADA, a ride-hailing service, from 26th February in Singapore!
๐ What is MVL Incentive Program?
The ultimate goal of MVL is to build trust-driven mobility ecosystem based on blockchain. All data will be transparently managed within the MVL ecosystem and participants will receive incentives according to their contribution to the MVL ecosystem.
The test period will be the important step for us to see if mobility data is stored and analyzed well and if the incentive calculations are appropriate.
๐ The first experimental testbed of MVL is TADA Singapore
The MVL incentive program will be implemented to TADA Singapore, the first ride-hailing service of MVL Foundation. TADA Singapore was chosen to be the first testbed since Singapore has been the first strategic location for us. The government and people in Singapore are in favor of blockchain and cryptocurrency.
The number of riders who registered TADA is about 200,000, and the number of drivers is about 25,000. TADA users will earn MVL incentives as they use TADA services.
๐ Mechanism of MVL program
The most basic and important mechanism of MVL incentive program is to offer MVL Point according to their traveling data and prosocial behavior.
MVL Point can be earned by using TADA services and acting in prosocial manner.
MVL Point = Point from driving on MVL services + Point from acting in a prosocial manner
- MVL Point: MVL Point is total points earned from driving and and acting in prosocial manner. As TADA users accumulate the MVL Point, they can unlock higher MVL Level and receive various benefits. Drivers or riders who are placed in high MVL level is likely to be considered as “kind driver” or “friendly rider”. The higher MVL level you are , the more benefits you get.
- MVL Service(driving) Point: For example, MVL Point is provided based on TADA users' traveling data which will be recorded on our blockchain system. TADA users earn the MVL Point which is calculated by multiplying the coefficient to the distance traveled on TADA. Different coefficient is applied for drivers and riders.
- MVL Behavior Point: For example, MVL Point is provided based on TADA users' behavior. Depending on whether a driver has provided a friendly service to a rider or whether a rider has reviewed about the driver, the MVL Point will be earned. Driving habits such as reckless/violent driving or speeding will be negative MVL Point.
If you're interested in the more detailed, please refer to https://ewhk4.app.goo.gl/SJPj.
๐ MVL protocol in the future
After the test period of the MVL incentive protocol, some modifications will be made for official MVL protocol to be launched.
In the first half of this year, when the MVL mainnet is launched, TADA will be the world's first ride-healing service on top of blockchain technology.
The MVL incentive structure will become more sophisticated and MVL Point will be exchanged to MVL Coin.
In the future, drivers and riders who unlock high MVL LEVEL will better be matched to each other. The mobility ecosystem that MVL envision is where the prosocial drivers provide and riders receive good quality of services. The MVL incentive program will be the first step in achieving our goal.