MVL Launches Proprietary Mainnet to Build Future Mobility Infrastructure on Base Appchain

Blockchain-based mobility company MVL has successfully launched its independent mainnet based on Coinbase Developer Platform (CDP)'s Layer 3 rollup, 'Base Appchain'. This marks a significant milestone for MVL, which has aimed to build an innovative mobility ecosystem where value is shared among drivers, passengers, and service providers since its establishment in 2018. MVL's new mainnet leverages the powerful advantages of Base Appchain, which provides independent block space for each appchain. This allows MVL to avoid sharing network resources with other projects, enabling autonomous and stable network operation without performance degradation. Particularly, the ability to directly design and control its fee structure and infrastructure is a significant strength for MVL. Furthermore, based on Base's stable and fast Layer 2 infrastructure, MVL has achieved high-speed processing, low-cost operation, instant withdrawals, and efficient infrastructure management, securing an optimal environment for on-chain popularization. MVL has already successfully differentiated itself from the high-commission models of existing platforms by operating TADA, a 'zero-commission' ride-sharing service, since 2018. TADA has firmly established itself, holding the second-highest market share in Singapore, and actively provides services in several other Asian countries including Thailand, Vietnam, Cambodia, and Hong Kong. Recently, MVL partnered with the Drivers' Cooperative of Colorado (DCC) in the US and plans to expand into the US market this year, leveraging TADA's proven technology and operational expertise. This mainnet launch signifies a groundbreaking turning point, extending TADA's real-world asset-based mobility infrastructure on-chain. This is a field known as 'DePIN (Decentralized Physical Infrastructure Network)' in the blockchain industry, and MVL aims to implement a decentralized model that promotes data transparency and sharing, returning more power and value to all ecosystem participants, including drivers and passengers, through the establishment of a DePIN network. Operating its own mainnet avoids common network congestion that can occur with high daily transaction volumes from services like TADA, and provides the scalability and cost-efficiency essential for global expansion through a customized gas model and fast transaction processing speeds. MVL continues its innovation, having launched 'Musubi', a new project for mobility expansion, last January. Musubi is a financing platform that digitizes vehicle asset ownership and connects ride-sharing drivers with investors through leasing arrangements. All vehicle data and ownership records are securely stored on the MVL mainnet, allowing investors to transparently verify key data such as vehicle location, battery status, and operational performance in real-time. Operating on MVL's own chain offers the advantage of reduced operating costs and the ability to design logic optimized for Musubi services. MVL CEO Woo Kyungsik stated his ambition that "MVL will continue to lead sustainable innovation in the mobility industry based on blockchain." He added, "Musubi plans to onboard more vehicles through collaborations with various mobility partners and further grow the digitalization and financing business of vehicle assets." CEO Woo emphasized that this mainnet launch will "serve as a foundation to integrate all MVL services into a single network, fostering powerful synergies across the entire MVL ecosystem."