How MVL’s Mobility Service, TADA, Reached a Million Users
TADA is an incentive-based mobility service launched by MVL in 2018. Since the launch of the first TADA Ride-Hailing service in Singapore, the number of users and TADA orders has been proliferating. Based on this, it has expanded vertically to Delivery and Truck Management service and regional expansion to Vietnam and Cambodia. As of 2022, millions of passengers and drivers using the TADA service are also active as significant participants in the MVL ecosystem.
Why does MVL directly operate the TADA service?
TADA was a service launched by MVL to build an incentive-based mobility data ecosystem. However, starting and running a mobility business to build a mobility data ecosystem may be reckless. For example, it may be a safer attempt to start a B2B business that provides data infrastructure to existing mobility companies or develops a meta-app encompassing multiple mobility services. However, why is MVL entering the mobility business, where the existing large field of Ride-Hailing are directly bisecting the market and producing Electric Vehicles?
MVL determined that the key to connecting various people, including various companies and services surrounding the mobility industry, drivers, and customers, is the record of the lifetime of the vehicle. Even for entirely different types of service, such as maintenance and transportation, the service is ultimately the result of a change in the vehicle’s condition. The goal of MVL was to introduce blockchain technology to continuous automobile data records and connect independent automobile-related services into one ecosystem based on this.
However, this car data is distributed and owned by numerous players on the value chain, and it is impossible to secure all records of lifetime of the vehicle if they own the data. Because getting data to be ‘shared’ with those who already ‘own’ is very difficult. Web2 data owners know that sharing all their data adds more value, but they do not share the data unless they have a solid incentive.
Therefore, we decided to build a Web 3 mobility ecosystem that directly secures data on the mobility value chain. If this ecosystem proves that it can be beneficial to all participants, it was determined that data sharing and participation of existing Web 2 mobility companies could be encouraged.
We made a reckless attempt to go directly into the player, starting with TADA Ride-Hailing. Moreover, this reckless attempt has resulted in rapid growth and 1 million users. So, we decided to approach with a completely different positioning from existing operators.
We position ourselves as an infrastructure operator, not a platform operator.
At the beginning of TADA’s introduction, we achieved bootstrapping through an unconventional Zero-Commission policy with no fees. This differentiated strategy from existing Ride-Hailing companies that receive a certain percentage of the payment amount per ride as a fee. This was a possible strategy because we are positioning ourselves as an infrastructure operator rather than a platform operator.
The goal of TADA and MVL is to build an incentive-based mobility ecosystem to secure high-quality data and provide an infrastructure that adds added value. We want to move forward in the future, the interests of drivers and platform software providers are aligned. Unlike the existing Web 2 platform operators, where the interests of the driver and the platform conflict by receiving a fee per ride, we chose the Zero Commission policy as the starting point for Web 3 mobility, where anyone can have sovereignty over the values and data they produce.
With the introduction of the Zero Commission, TADA was able to quickly expand its services by gaining a great response in Southeast Asia. As of December 2021, the cumulative number of subscribers reached 1.24 million, an increase of approximately 24% compared to last year. Among them, drivers increased by 40% to about 140,000 people, and the number of passengers increased by 22% to about 1.1 million people. As of 2022, TADA maintains a 0% commission per ride policy in all countries. In Singapore, we are receiving a small fee for the software fee, and through this, we are generating profits beyond the BEP. In addition, TADA services in Cambodia and Vietnam do not charge any fees.
TADA analyzed service data such as drivers, passenger ride patterns, and willingness to pay during this rapid growth process and established a rating system that provides reasonable profits in connection with low service costs for passengers and zero commissions for drivers in real-time. This eventually made drivers and passengers more convenient, bringing in more drivers and passengers and creating a virtuous cycle of ecosystem expansion.
The Future of MVL and TADA
The Zero Commission is not a complete incentive system. In 2019, we found that Southeast Asian users had 1) low access to blockchain services (difficulty of installing cryptocurrency wallets, managing private keys, etc.), 2) restrictions on exchanges that can cash MVL, 3) limited use of MVP was determined that direct introduction of the Token Economy was difficult for the following reasons. Therefore, we introduced Zero Commission that can be accepted while maintaining the core philosophy of rewarding ecosystem contributors.
In the future, we will introduce a blockchain-based incentive protocol through expansion to Game and Metaverse, which can add more excellent value to data from TADA and the utilization of the MVL token economy.
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MVL is a blockchain-based Web3 mobility ecosystem launched in 2018, which is the fastest-growing mobility platform in South-East Asia.
We have over 1 millions of drivers and passangers and also are operating strong business service, TADA Ride-Hailing and ONiON EV.
We aim to make infrastructure that bridges the digital world and mobility business. The most important thing to advance to the next level is the MVL community.
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