MVL, a blockchain mobility company, has unveiled an advanced tokenomics plan, building on the remarkable success of TADA mini’s launch. MVL revealed that the utility of its MVL token will be significantly enhanced as TADA mini continues to grow.
TADA mini, which launched in September 2024 at Singapore’s TOKEN2049, saw over 15,000 users experience this groundbreaking mobility service during the event. As the first-ever Web3 ride-hailing service available as a Telegram mini app, TADA mini allows users to easily book rides using a variety of cryptocurrencies through a connected digital wallet. With no complicated sign-ups required, users can instantly access the service within Telegram, benefiting from TADA’s extensive network of over 300,000 drivers and a high matching rate. These innovative features have positioned TADA mini as a key player in the mainstream adoption of Web3.
MVL emphasized that the growth of TADA mini will be closely tied to the economic utility of MVL tokens, which will be strengthened in several ways:
- Supporting MVL Token and Incentivizing Transactions: MVL is updating TADA mini to support $MVL tokens. Users who utilize MVL tokens for rides will receive additional benefits, which is expected to drive demand and increase transaction volume.
- Corporate Staking for Token Lockups: Partner companies across various Layer 1 blockchains, cryptocurrencies, and digital wallets will be required to use MVL tokens to integrate with TADA mini. Through a corporate staking mechanism, partners will acquire MVL tokens from the market and lock them on-chain, driving up demand and value for the token.
- MVL Token Buyback: MVL plans to reinvest cryptocurrency transaction fees by purchasing MVL tokens from the market and storing them in its on-chain treasury.
- MVL Token Usage in TADA mini Promotion Features: TADA mini is also providing services like event promotion and user incentive programs. During TOKEN2049, for example, TADA mini collaborated with prominent Web3 projects such as Blum, Bitget, and TON Society, offering banner ads and event recommendations. MVL tokens will continue to be used for such promotional services.
MVL’s Chief Innovation Officer, James Yang, remarked, “TADA mini has demonstrated the real-world use of digital assets in practical applications, and we’re seeing interest from prominent projects in collaborating with TADA mini. Going forward, the MVL token will play a crucial economic role within TADA mini, and its growth will be mirrored by the expansion of the MVL token ecosystem.”
This announcement marks an important step in MVL’s commitment to enhancing the long-term utility and sustainability of its token, ensuring its pivotal role in the evolving landscape of Web3 mobility services.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.
