TADA, Singapore’s pioneering zero-commission ride-hailing platform, has unveiled a S$1m pilot initiative named ‘Hotpot’ to counter high-commission models and rising commuter fares. With over 27,000 drivers committed, the initiative seeks to establish a fairer economic model by rewarding drivers transparently through blockchain technology.
The ‘Hotpot’ initiative addresses the prevalent issue of high commissions and opaque algorithms that diminish driver earnings and inflate commuter fares. By recording driver contributions and rewards on the MVL blockchain, TADA ensures a transparent and tamper-proof system that offers drivers a verifiable stake in the ecosystem. This approach contrasts with traditional loyalty schemes, which are often devalued by the platforms themselves.
Drivers participating in ‘Hotpot’ earn TADA Points for each trip, which determine their eligibility for Group Rewards. These rewards are enhanced when collective trip targets are met, offering a 2× multiplier on earnings. This system shifts the focus from individual bonuses to collective effort, ensuring that drivers share in the value they create.
Kay Woo, Founder of TADA and MVL, stated, “Drivers shouldn’t be paying away their earnings in commissions, and riders shouldn’t be accepting cost-climbing fares as ‘the norm’. This is an opportunity to make a stand to Say No to Commission and build a fairer system.”
The ‘Hotpot’ initiative is the first step in TADA’s long-term vision to empower drivers with a voice in future ride-hailing decisions and prepare them for next-generation services like autonomous vehicles. The next phase, set for early next year, will introduce community decision-making and expand the initiative regionally.
