MVL (Mass Vehicle Ledger / MVL Chain)

MVL is a blockchain-based mobility ecosystem that connects real-world transportation services — including the TADA ride-hailing platform and ONiON Mobility's EV manufacturing — to Web3. It leverages DePIN (Decentralized Physical Infrastructure Network) to collect and record mobility data from vehicles, batteries, and charging stations, and rewards drivers, passengers, and data contributors with MVL tokens proportional to their participation.

The big picture: a real business drives the token.

MVL's yield comes from real-world services that people pay for — ride fares on TADA, coupon sales, and fees from partner mobility apps. This revenue flows into a shared Open Treasury, which automatically buys MVL tokens from the open market. Those bought tokens are locked up for a set time, then released back into the ecosystem only after holders vote on it.

Where you can earn yield on-chain

• Staking Pools (MVL Fi): Lock up MVL (on Ethereum) or bMVL (on BNB Chain) in either Fixed-term or Flexible pools. Rewards come in the same tokens you staked.

• LP Staking (MVL Bridge): Provide liquidity to trading pairs like MVL-ETH or bMVL-BNB, and earn reward tokens in return.

• USDC Earn Vault (Ethereum): A deposit vault that pays yield on USDC.

• Mobility Incentive Protocol: Drivers and passengers on TADA earn MVL tokens based on how many trips or rides they complete. These rewards are backed by real revenue from the mobility business.

Beyond tokens: real-world assets (RWA)

MVL also links ONiON electric three-wheelers to NFTs. Future plans include rental or subscription yield streams from these vehicles, managed by a separate Risk Treasury system.

Important to know: Each pool or campaign sets its own fees and reward schedules, which are announced through governance votes. There is no single, fixed fee structure across all products.

According to MVL's official milestone page (Gitbook documentation), MVL attracted a Series B investment round in April 2021, with cumulative funding reaching KRW 34 billion (approximately ~$30M USD at the time). The specific investors in this round were not named on the official pages reviewed. In February 2024, MVL also launched a $10M Ecosystem Fund (announced in a press release). Additionally, in January 2026, TADA (a key MVL ecosystem service) announced it was pursuing a USD 100 million investment to accelerate U.S. expansion, though specific backers for that round were not named on the official notice.