Following a partnership between a decentralized finance (DeFi) platform Moon Maker Protocol and MVP coin, the Moon Maker Protocol has become the first DeFi platform in Southeast Asia to collaborate with a listed company. The alliance is an important milestone towards the mainstream adoption of DeFi solutions in Southeast Asia.
MVP coin is a utility token supported by a publicly listed company. It is listed on Bitkub Chain Network, Thailand’s no.1 cryptocurrency exchange, and it is redeemable for a plethora of products and services offered by M Vision group of companies including EV bike rental, MV Caravan rental, SUP, Movies, MTB bike, Pre-Wedding photography, concert and food & beverage services.
That being said, the utility token is backed by the assets of M Vision Public Company Limited, a publicly-listed firm on the Stock Exchange of Thailand.
Following the partnership between both companies, users of Moon Maker Protocol (MPP) will have access to purchase MVP tokens on Saturday 12th June 2021 1-3 pm UTC for $0.0125 per token, ahead of its launch on Bitkub exchange. This means that MMP users will be the first to lay their hands on the MVP tokens since Moon Maker Protocol will become the first platform to publicly trade MVP.
It is also worth adding that there will be a maximum purchase limit for each MMP holder, depending on their MMP tiers.
Hitting the ground running, MVP launches with an immediate use case
Interestingly, MVP token is launching with an immediate use case. It will be used as a payment option for M Vision Group’s travel products and services such as event organizer and adventure mobile rental. The company is also working to expand the utility of the token to include other travel services such as hotels and restaurants, two industries that have been greatly hit by the COVID-19 pandemic.
As earlier mentioned, MVP is being monitored by Thailand’s government entities and is also backed by M Vision, a publicly-listed firm. M Vision’s range of business cuts across event organizing, sports solutions, and technology services. As stated in the project’s whitepaper, M Vision is required to back the value of the token by adding 30% more assets every six months.
All things being equal, MVP will be set on a path of solid growth if it can sustain its real-world use cases and partnerships, as well as by adding more assets to back the token value.
Expanding DeFi’s reach in Southeast Asia
With a population of more than 655 million people, Southeast Asia is currently one of the world’s most populous continents. A win for the DeFi industry in the Southeast Asian market is a win for the entire crypto sector.
MMP is the first DeFi platform in Southeast Asia to ink a partnership with a firm listed on one of Asia’s stock exchanges. This is undoubtedly an initial win for the sector. By exploring new ways to use digital assets as a store of value and medium of exchange, Moon Maker Protocol is shining the spotlight on DeFi and blockchain tech as a viable alternative to solve real-world problems.