Ride Fair with Tuk-Tuk

Over the past decade, Web2 ride-hailing apps have evolved into oligopolies, directly or indirectly employing millions of people worldwide. Their size and scale have granted them significant bargaining power over drivers, skewing the balance in their favour. These platform, acting as intermediaries, collect high fees, reducing the earnings of the drivers.

The power of Web3 lies in its ability to minimize or eliminate the need for intermediaries, and this is the core vision of Tuk-Tuk. Leveraging crypto and blockchain technology, Tuk-Tuk aims to reduce its overhead costs and redistribute a fairer share of revenue to drivers and token holders alike.

The Tuk-Tuk Model:

• Traditional Web2 Model: for a $10 ride, traditional Web2 ride-hailing apps charge $3 in fees, leaving only $7 for the driver.

• TukTuk Model: TukTuk charges only $1.5 in fees, leaving $8.5 for the driver. This results in a significant increase in value for drivers

• The TukTuk network incentivises its community by sharing most of the value generated by the fees (see $TUK Token section)

While this difference may seem small on a single ride, it accumulates significantly over time, providing drivers with meaningful, long-term benefits.

Why does this make sense?

TukTuk tries to challenge this private flow of capital by creating an open ride-haling system, driven by the community and fairly incentivizing $TUK token holders and drivers.