Hello, This is MVL Team.
First, let me tell you about the direction of the MVL team.
The Direction of MVL
The MVL team focuses more on the value of the MVL ecosystem in the long term rather than on the value of MVL Coin in the short term. As the demand for MVL Coin increases, the value of MVL Coin is expected to rise along with the growth of the MVL ecosystem.
In order to increase the demand for MVL Coin, expanding services that can utilize MVL Coin and securing customers are very important.
We are currently planning to expand TADA brand by adding new services. MVL protocols will be implemented to all of the services and they will be a part of the MVL ecosystem. The services include car insurance, taxi, carpool, car booking as well as ride-hailing service. We are also planning to expand into foreign markets.
Establishing the MVL ecosystem through the TADA brand will enable MVL Coin to be used in a number of different mobility-related services in the future. When MVL Coin becomes a means of payment instead of legal currency for various mobility services, MVL coin users will get the discounts or various benefits. We believe it will increase the demand for MVL coins.
MVL Point → MVL Coin exchange
Many people are concerned about the increase in the circulating supply of MVL Coins when the exchange of MVL Point to MVL Coin begins.
The MVL team will ensure that only a certain amount of MVL Coin is distributed even when MVL Point will be exchanged to MVL Coin. The ratio of MVL Point to MVL Coin will be not fixed and will be changed in real time. The ratio will be determined according to the amount of MVL Points that users ask to exchange to MVL Coins.
This will prevent from an indiscriminate distribution of MVL Coins that can affect MVL Coin price.
Users who received MVL Points cannot exchange 100 percent of their points to MVL Coin in real time. According to the level, the exchangeable percentage of total MVL Points users collected is different(from 60-100 percent). As users exchange their MVL Points to MVL Coin, points will be deducted from the total balance and users will drop to a lower level.
The more MVL Points a user has, the higher level in a user can be placed in. Being placed in higher the level means, one participated in the MVL ecosystem in a positive manner(driving in a safe manner, behaving in a friendly manner, etc). For this reason, TADA drivers will keep a certain amount of MVL Points and maintain a high level in order to be recognized by riders as a friendly and safe driver.
Moreover, by offering more benefits for users placed in a higher level, we will prevent the excessive circulating supply of MVL Coin due to indiscriminate exchanges of points to coin.
Operational Policies for exchange of MVL Point to MVL Coin
Please refer to the following how MVL team will operate an exchange of MVL Point to MVL Coin:
Terms:
1) MVL Pool: Reserve Pool + Revenue of TADA and MVL(cash and cashable assets)
2) Reserve Pool: 4.8 billion MVL Coin (16% of the total supply of MVL Coin)
Operational Policies:
1): Some cash and cashable assets of the revenue generated by TADA and MVL will be added to the MVL Pool. The cash and cashable assets will be used to purchase MVL Coin in the market so that more MVL Coin be injected into the MVL Pool.
2): The Reserve Pool is about 16% of the total supply of MVL Coin as indicated in the MVL White Paper. The amount of the Reserve Pool is not being circulated yet but it is planned to be released little by little over a decade(which means it is not going to be released all at once for value stability).
The purpose of 1)MVL Pool is to be used for the exchange of MVL Point to MVL Coin. The amount of 2)Reserve Pool to be released and put into 1)MVL Pool will be determined based on the revenue generated by TADA and MVL and the value of MVL Point. It means if revenue by TADA and MVL is high, releasing the amount of 2)Reserve Pool may be very low or zero. In other words, the circulating supply of MVL Coin might not increase.
In the case of pilot MVL Incentive Program, we have concluded that the total amount of MVL Point collected can be fully covered by revenue by TADA and MVL. Therefore, only MVL Coin that is purchased from the market with revenue by TADA and MVL(cash or cashable assets) will be used to exchange MVL Point. The timing of the purchase of MVL Coin will be depended on the market conditions. There will be no more circulating supply due to the pilot MVL Incentive Program.
Future Plans of MVL and TADA
Currently, the MVL team has entered Singapore, Vietnam and Cambodia market with TADA brand.
We have been testing the MVL Incentive Program in Singapore and Mainnet is launched by the first half of this year.
We focus on improving TADA service itself and expanding users since an increase in the number of TADA users will increase the utilization of MVL protocol. Moreover, it will eventually increase the value of MVL ecosystem in the future.
We are currently in the middle of some discussion with the banks in Singapore about the payment platform. We are also updating TADA platform to ensure that we have a good level of pricing compared to our competitors.
In Cambodia, we have been working with Pi Pay, one of the top local payment platform companies in Cambodia. Pi Pay is an investment arm of Alipay and it is expected to be a bridgehead for expanding our services in Cambodia. In fact, Pi Pay platform allows users to pay with Alipay and it will be available in various services in various countries.
In Vietnam, we have been preparing the service launch with Lotte Rental. As part of our TADA service, we expect good synergy by combining Lotte Rental's operational knowledge and MVL's IT technology. We also have a plan to launch a TADA service for motorcycle as motorcycle industry is rapidly growing in Vietnam.
We are continuously conducting market research on many different mobility industries as well as various countries to develop a market-entry strategy. We will keep you updated on the progress.
We have been developing and testing TADA service with the top regional and global payment companies to connect their payments. It is expected to build the foundation for connecting their payments with the MVL protocol in the future.
We also have been working on the realization of the "Token Economy White Paper," which was released last year. In addition to testing token economy with TADA, we are also designing a structure that will satisfy all MVL ecosystem participants(coin holders and service users). The structure will continue to be modified based on feedback from the MVL ecosystem participants. We will also launch MVL Mainnet in the first half of the year.
Further Listing on Crypto Exchanges
There may be many questions regarding the listing of MVL Coin.
We are in talks with various exchanges, however, it is taking a while to decide on the exchange to list on due listing fees, the timing, the size of the exchange, and the support from the exchange.
We are currently discussing a deal with two exchanges, but we apologize that we can not inform you of the details.
TADA, a Use Case of MVL
There are some people who think that we only focus on TADA business after the completion of the ICO. However, that is definitely a misconception.
Implementing a blockchain system and token economy to service platforms is not an easy thing to do. It comes with significant risk, cost, and time investment. We have to consider many issues, such as if the data are well recorded on the block, if the incentive structure satisfies all MVLERs, and how can the blockchain protocol be maintained in the long run.
Therefore, we decided to have a test period of blockchain implementation with TADA Singapore first in order to continue the implementation on other mobility service platforms and build a sound blockchain system and token economy.
We understand your concerns; however, when you look a bit more closely, you will realise that we are in the progress of building a sophisticated blockchain ecosystem and token economy.
Communications
Last year, CEO Kay of MVL often participated in Telegram Chat room. However, we have thought that the CEO should rather refrain from participating in a chatroom and focus more on improving services and expanding businesses. We appreciate your understanding in this matter.
If you have any questions, please reach MVL Admin through our Telegram group or email to support@mvlchain.io.
In the case of Telegram, MVL Admin may miss conversations and not able to answer your questions promptly. We would appreciate if you could send us an email with questions.
Thank you,
Trust-Driven MVL
Hello, This is MVL Team.
First, let me tell you about the direction of the MVL team.
The Direction of MVL
The MVL team focuses more on the value of the MVL ecosystem in the long term rather than on the value of MVL Coin in the short term. As the demand for MVL Coin increases, the value of MVL Coin is expected to rise along with the growth of the MVL ecosystem.
In order to increase the demand for MVL Coin, expanding services that can utilize MVL Coin and securing customers are very important.
We are currently planning to expand TADA brand by adding new services. MVL protocols will be implemented to all of the services and they will be a part of the MVL ecosystem. The services include car insurance, taxi, carpool, car booking as well as ride-hailing service. We are also planning to expand into foreign markets.
Establishing the MVL ecosystem through the TADA brand will enable MVL Coin to be used in a number of different mobility-related services in the future. When MVL Coin becomes a means of payment instead of legal currency for various mobility services, MVL coin users will get the discounts or various benefits. We believe it will increase the demand for MVL coins.
MVL Point → MVL Coin exchange
Many people are concerned about the increase in the circulating supply of MVL Coins when the exchange of MVL Point to MVL Coin begins.
The MVL team will ensure that only a certain amount of MVL Coin is distributed even when MVL Point will be exchanged to MVL Coin. The ratio of MVL Point to MVL Coin will be not fixed and will be changed in real time. The ratio will be determined according to the amount of MVL Points that users ask to exchange to MVL Coins.
This will prevent from an indiscriminate distribution of MVL Coins that can affect MVL Coin price.
Users who received MVL Points cannot exchange 100 percent of their points to MVL Coin in real time. According to the level, the exchangeable percentage of total MVL Points users collected is different(from 60-100 percent). As users exchange their MVL Points to MVL Coin, points will be deducted from the total balance and users will drop to a lower level.
The more MVL Points a user has, the higher level in a user can be placed in. Being placed in higher the level means, one participated in the MVL ecosystem in a positive manner(driving in a safe manner, behaving in a friendly manner, etc). For this reason, TADA drivers will keep a certain amount of MVL Points and maintain a high level in order to be recognized by riders as a friendly and safe driver.
Moreover, by offering more benefits for users placed in a higher level, we will prevent the excessive circulating supply of MVL Coin due to indiscriminate exchanges of points to coin.
Operational Policies for exchange of MVL Point to MVL Coin
Please refer to the following how MVL team will operate an exchange of MVL Point to MVL Coin:
Terms:
1) MVL Pool: Reserve Pool + Revenue of TADA and MVL(cash and cashable assets)
2) Reserve Pool: 4.8 billion MVL Coin (16% of the total supply of MVL Coin)
Operational Policies:
1): Some cash and cashable assets of the revenue generated by TADA and MVL will be added to the MVL Pool. The cash and cashable assets will be used to purchase MVL Coin in the market so that more MVL Coin be injected into the MVL Pool.
2): The Reserve Pool is about 16% of the total supply of MVL Coin as indicated in the MVL White Paper. The amount of the Reserve Pool is not being circulated yet but it is planned to be released little by little over a decade(which means it is not going to be released all at once for value stability).
The purpose of 1)MVL Pool is to be used for the exchange of MVL Point to MVL Coin. The amount of 2)Reserve Pool to be released and put into 1)MVL Pool will be determined based on the revenue generated by TADA and MVL and the value of MVL Point. It means if revenue by TADA and MVL is high, releasing the amount of 2)Reserve Pool may be very low or zero. In other words, the circulating supply of MVL Coin might not increase.
In the case of pilot MVL Incentive Program, we have concluded that the total amount of MVL Point collected can be fully covered by revenue by TADA and MVL. Therefore, only MVL Coin that is purchased from the market with revenue by TADA and MVL(cash or cashable assets) will be used to exchange MVL Point. The timing of the purchase of MVL Coin will be depended on the market conditions. There will be no more circulating supply due to the pilot MVL Incentive Program.
Future Plans of MVL and TADA
Currently, the MVL team has entered Singapore, Vietnam and Cambodia market with TADA brand.
We have been testing the MVL Incentive Program in Singapore and Mainnet is launched by the first half of this year.
We focus on improving TADA service itself and expanding users since an increase in the number of TADA users will increase the utilization of MVL protocol. Moreover, it will eventually increase the value of MVL ecosystem in the future.
We are currently in the middle of some discussion with the banks in Singapore about the payment platform. We are also updating TADA platform to ensure that we have a good level of pricing compared to our competitors.
In Cambodia, we have been working with Pi Pay, one of the top local payment platform companies in Cambodia. Pi Pay is an investment arm of Alipay and it is expected to be a bridgehead for expanding our services in Cambodia. In fact, Pi Pay platform allows users to pay with Alipay and it will be available in various services in various countries.
In Vietnam, we have been preparing the service launch with Lotte Rental. As part of our TADA service, we expect good synergy by combining Lotte Rental's operational knowledge and MVL's IT technology. We also have a plan to launch a TADA service for motorcycle as motorcycle industry is rapidly growing in Vietnam.
We are continuously conducting market research on many different mobility industries as well as various countries to develop a market-entry strategy. We will keep you updated on the progress.
We have been developing and testing TADA service with the top regional and global payment companies to connect their payments. It is expected to build the foundation for connecting their payments with the MVL protocol in the future.
We also have been working on the realization of the "Token Economy White Paper," which was released last year. In addition to testing token economy with TADA, we are also designing a structure that will satisfy all MVL ecosystem participants(coin holders and service users). The structure will continue to be modified based on feedback from the MVL ecosystem participants. We will also launch MVL Mainnet in the first half of the year.
Further Listing on Crypto Exchanges
There may be many questions regarding the listing of MVL Coin.
We are in talks with various exchanges, however, it is taking a while to decide on the exchange to list on due listing fees, the timing, the size of the exchange, and the support from the exchange.
We are currently discussing a deal with two exchanges, but we apologize that we can not inform you of the details.
TADA, a Use Case of MVL
There are some people who think that we only focus on TADA business after the completion of the ICO. However, that is definitely a misconception.
Implementing a blockchain system and token economy to service platforms is not an easy thing to do. It comes with significant risk, cost, and time investment. We have to consider many issues, such as if the data are well recorded on the block, if the incentive structure satisfies all MVLERs, and how can the blockchain protocol be maintained in the long run.
Therefore, we decided to have a test period of blockchain implementation with TADA Singapore first in order to continue the implementation on other mobility service platforms and build a sound blockchain system and token economy.
We understand your concerns; however, when you look a bit more closely, you will realise that we are in the progress of building a sophisticated blockchain ecosystem and token economy.
Communications
Last year, CEO Kay of MVL often participated in Telegram Chat room. However, we have thought that the CEO should rather refrain from participating in a chatroom and focus more on improving services and expanding businesses. We appreciate your understanding in this matter.
If you have any questions, please reach MVL Admin through our Telegram group or email to support@mvlchain.io.
In the case of Telegram, MVL Admin may miss conversations and not able to answer your questions promptly. We would appreciate if you could send us an email with questions.
Thank you,
Trust-Driven MVL