Following the AVA token swap in August 2023, the tokenomics of the AVA token have been updated to reflect the changes to the maximum token supply detailed in the AVA 2.0 Proposal.

This article details the updated tokenomics of the AVA 2.0 token under the AVA Foundation following the token swap, the revised token allocations, the new AVA Foundation wallet addresses within the AVA ecosystem and an overview of the AVA demand and supply use cases.

AVA 2.0 Token Details

AVA 2.0 Token Distribution Table

AVA 2.0 Token Distribution Pie Chart

AVA 2.0 Token Yearly Release Schedule

AVA Token Quarterly Release Schedule

The new supply of AVA tokens will be released every 3 months starting on 1st November 2023 until the final batch of tokens is released on 1st August 2033. For the full release schedule of AVA tokens, please see the AVA 2.0 Token Release Schedule.

AVA 2.0 Wallet Addresses

There are five primary AVA wallet addresses used within the AVA ecosystem, with each serving a different function. These five wallet addresses are:

AVA Smart Program Lockup Wallet

This wallet contains the AVA locked in the AVA Smart Program by Smart members.

Community Pool Wallet

The Community Pool wallet holds AVA that is used to fund proposals voted on and successfully passed by the community. 

Every 3 months as per the token release schedule, 20% of the newly minted AVA supply will be contributed to the Community Pool. 50% of the royalties from the secondary sales of Travel Tiger NFTs are also contributed to the Community Pool. 

AVA funds in this wallet will be used only if proposals are passed; AVA that is contributed to this wallet every 3 months but not spent will accrue for future use. Future web3 products will be purchasable in AVA with contributions to the Community Pool for long-term sustainability and growth.

Ecosystem Incentives Wallet

The AVA in the Ecosystem Incentives wallet is used to support partners that adopt the AVA token such as loyalty benefits offered by the AVA Smart Program implemented on Travala, such as AVA givebacks and AVA Smart Bonuses. 

Every 3 months as per the token release schedule, 50% of the newly minted AVA supply will contribute to funding ecosystem incentives, enabling the AVA ecosystem to expand via user growth and engagement. 

AVA that is contributed to this wallet every 3 months but not spent will accrue for future use. Future web3 products will be purchasable in AVA with contributions to Ecosystem Incentives for long term sustainability and growth.

Ecosystem Growth Wallet

Ecosystem Growth funds will be used to undertake initiatives that provide growth opportunities for the AVA ecosystem, such as engaging in partnerships or expanding reach through paid marketing activities. 

Every 3 months as per the token release schedule, 10% of the newly minted AVA supply will be allocated to the Ecosystem Growth wallet. 

AVA that is contributed to this wallet every 3 months but not spent will accrue for future use.

Foundation Reserve Wallet

The Foundation Reserve wallet holds AVA that is available for the AVA Foundation to use for the betterment of the AVA ecosystem with a long term vision. This will include operational expenses of the AVA Foundation such as legal and compliance, technical development and contributor payment as we move progressively towards decentralisation. 

Every 3 months as per the token release schedule, 20% of the newly minted AVA supply will be allocated to the Foundation Reserve wallet. 

AVA that is contributed to this wallet every 3 months but not spent will accrue for future use. Future web3 products will be purchasable in AVA with contributions to the Foundation Reserve.

AVA 2.0 Demand Use Cases

There are several use cases in the ecosystem that generate demand for the AVA token. These use cases are key to explaining the core questions of “Why should I use AVA?”,  “What can I use AVA for?” and “Why should I hold AVA?”.

AVA Payments

Users can make payments in AVA, including within the Travala platform for bookings, Travel Credits and Gift Cards. The key benefits of paying with AVA include special discounts on Travala of an additional up to 3% when making travel bookings. Any future web3 products introduced by the AVA Foundation will be purchasable in AVA, with sales revenues contributing to the AVA Community Pool, Ecosystem Incentives and Foundation Reserve for the ongoing long-term sustainability of the AVA ecosystem. 

Access

Users require AVA tokens to access certain products and services within partner ecosystems. For example, the AVA Smart Program enables users to lock up AVA to access the AVA Smart Program tier of their choice and receive benefits as well as special access to exclusive perks such as travel drop giveaways, Ambassador bonuses and services like the Open Passport. The Community Vote for Smart members gives members the opportunity to determine Travala platform decisions.

AVA Earn Programs

Earn programs for earning AVA are available on third-party platforms such as Binance Earn, Gate.io Lock & Earn, and KuCoin Earn. These are accessible by locking up AVA for short, flexible and long-term periods of time. There could also be web3 earn programs if proposed and passed by the community via the AVA Foundation Governance feature.

AVA Foundation Governance

Decentralised governance features for the AVA ecosystem are accessible via Snapshot to provide greater community involvement, enabling voting on use cases related to the AVA token. In the future, submissions of community proposals will be opened as part of the progressive decentralisation of the AVA ecosystem. To vote on proposals, participants will need to be AVA holders. Voting power is based on a holder’s AVA balance.

AVA Buyback Program

The AVA Buyback Program involves the Foundation repurchasing the AVA distributed as giveback rewards every month within the AVA Smart Program to generate ongoing demand for the AVA token. Each month, the AVA Foundation purchases AVA tokens on the open market equivalent to the USD value of all the AVA giveback rewards distributed to Travala members for travel bookings in the previous month. These AVA tokens are bought using stablecoins received from Travala as part of their partnership with the AVA Foundation. The purchased AVA tokens are held in the Ecosystem Incentives Wallet, generating demand for AVA and supporting the ecosystem’s growth.

AVA Treasury Reserve on Travala

Travala holds a strategic portion of its treasury in AVA—alongside Bitcoin—as both currencies are integral to the company’s operations. Millions of dollars in travel bookings are paid in AVA on Travala annually, with users receiving and using AVA rewards as part of the AVA Smart Program.

AVA 2.0 Supply Use Cases

There are also supply use cases which introduce new AVA tokens into circulation through the completion of certain actions within the AVA ecosystem and partner ecosystems.

Loyalty Discounts & Rewards

The AVA token functions as the key to accessing web3 loyalty programs and provides perks to end users, such as AVA payment discounts, AVA loyalty rewards, and more. Users can lock up AVA to access the AVA Smart Program tier of their choice and receive discounts and loyalty rewards. The higher the Smart tier, the more AVA required, and the greater the benefits.

AVA rewards can be used within ecosystems to purchase in-platform products or upgrade memberships. Since AVA has real-world value as a cryptocurrency, AVA can also be withdrawn from any platform that supports it.

AVA Givebacks

The ability to Travel & Earn AVA for completing purchases is a powerful supply tool that introduces new users to AVA and encourages user loyalty. When a travel booking is completed on Travala, for example, the traveller receives up to 10% of the booking price back in AVA based on their Smart membership.

About AVA Foundation

The AVA Foundation’s overarching mission is to create a decentralised and self-sufficient blockchain-based loyalty ecosystem with AVA at its core. The AVA token functions as the key to accessing web3 loyalty programs and provides perks to end users, such as AVA payment discounts, AVA loyalty rewards, gated access benefits, and more. AVA tokenises the concept of loyalty reward programs using blockchain technology, bringing web3 to traditional loyalty models.

One of the key items included in the AVA 2.0 Proposal which the community has been looking forward to following the proposal outcome is the new AVA Smart Bonus as part of the revamped Smart Program.

The AVA Smart Bonus will provide the opportunity for Smart members to receive AVA bonuses for participating in the AVA ecosystem by completing Contributor Tasks OR spending AVA on the Travala.com platform.

In this article, we’ll take an in-depth look at what the AVA Smart Bonus aims to achieve within the AVA ecosystem and the initial mechanics of the new AVA Smart Bonus in its v.1 stage, with further iterations to follow in the future.

Introduction

The AVA Smart Bonus aims to increase the demand for the Smart Program, grow the utility of the AVA token, and expand the overall visibility of the AVA ecosystem by rewarding members for helping further the AVA ecosystem through participating in AVA ecosystem channels and increasing the overall number of AVA transactions.

The AVA Smart Bonus is offered exclusively to members of the Smart Program, a travel loyalty program of which AVA is the rewards token. In v.1 of the AVA Smart Bonus, all Smart members will have the opportunity to receive the AVA Smart Bonus by completing ONE of the following activities:

1. Complete the specified Contributor Tasks at the beginning of the following quarter; OR
2. Spend a minimum of US$50 worth of AVA on Travala.com within the quarter. 

Contributor Tasks will aim to increase the awareness of both the AVA ecosystem and the utility of the AVA token. Contributor Tasks will be conducted via the Gleam platform and may include participating in community channels, creating social media posts, and a range of other online activities.

This is v.1 of the AVA Smart Bonus and one part of the revamped Smart Program. Iterations and improvements will be made in the following quarters, with members being able to lock up more AVA and receive greater amounts of AVA bonuses from Q1 2024 based on their membership level. As a small piece of the overall AVA 2.0 project, more initiatives are on the way to continue growing the AVA ecosystem, as outlined in the AVA 2.0 Proposal. We’re excited to introduce this new addition for the community and continue building on it in future versions.

Read on for more detailed information about the AVA Smart Bonus mechanics.

V.1 AVA Smart Bonus Amounts

In v.1 of the AVA Smart Bonus, all Smart members from the Steel tier to the Diamond tier will be eligible to receive the AVA Smart Bonus each quarter. The AVA Smart Bonus amount will be rewarded in AVA based on the amount of AVA locked up and, with the AVA Smart Bonus Booster in place, will initially be equal to:

Based on the learnings from v.1, the AVA Smart Bonus amount for each membership tier will be evaluated every quarter, along with the qualification requirements below.

Qualification Requirements

To be eligible to receive the AVA Smart Bonus, you’ll need to be a Smart member by the final day of each quarter until you claim your AVA Smart Bonus at the beginning of each quarter.

You’ll also need to complete ONE of the following activities each quarter that help grow the AVA ecosystem and promote the payments utility of AVA in order to receive the AVA Smart Bonus:

1. Complete the specified Contributor Tasks at the beginning of the following quarter; OR
2. Spend a minimum of US$50 worth of AVA on Travala.com within the quarter. 

To participate in the first round, you’ll need to be a Smart member by 31 December 2023 11:59 PM UTC and complete one of the above activities, explained in more detail below.

Contributor Tasks

The goal of Contributor Tasks is to increase the awareness of both the AVA ecosystem and the utility of the AVA token. If you choose to complete Contributor Tasks, this may include participating in community channels, creating social media posts, and a range of other online activities that will be accessible via Gleam.

Contributor Tasks will go live at the beginning of each new quarter. For the first round, Contributor Tasks will be available to complete for 2 weeks in January 2024 (the exact claim period window will be announced closer to the date).

AVA Minimum Spend

If you choose to complete the AVA minimum spend requirement, any product available to purchase with AVA on Travala.com will contribute to this requirement, including completed travel bookings (inclusive of flights, hotels and activities), Travel Credit purchases, or Travel Gift Card purchases.

NOTE: any travel bookings that are refunded or not yet completed by the end of the applicable quarter will NOT count towards the AVA minimum spend requirement for that quarter. Please see the FAQs for more information.

For the first round of the AVA Smart Bonus that will be claimable in January 2024, the applicable period for the AVA minimum spend requirement will be 1 October 2023 at 12:00 AM UTC–31 December 2023 at 11:59 PM UTC.

AVA Smart Bonus vs Ambassador Bonus

The Contributor Tasks for the AVA Smart Bonus will be merged with the existing Ambassador Bonus Marketing Tasks that are open exclusively to Diamond members. From January 2024, the “Ambassador Bonus Marketing Tasks” will be renamed to “Contributor Tasks”. 

Diamond members will therefore only need to complete one set of Contributor Tasks to receive their Ambassador Bonus Travel Credit rewards and AVA Smart Bonus. For clarity, the Ambassador Bonus will continue to be offered exclusively to Diamond members only.

Join Now

To participate in the first round of the AVA Smart Bonus v.1 and receive the AVA Smart Bonus, ensure that you have an active Smart membership by 31 December 2023 at 11:59 PM UTC and complete either the Contributor Tasks launching in January 2024 OR meet the AVA minimum spend requirement between 1 October 2023 at 12:00 AM UTC–31 December 2023 at 11:59 PM UTC.

Remember that, for the first round, your membership must remain active until January 2024 when the AVA Smart Bonus claim period goes live. The exact claim period window will be announced closer to the date, alongside the release of the Contributor Tasks.

The AVA Foundation is thrilled to be introducing the AVA Smart Bonus v.1 to the community and will continue to iterate this initiative in the future based on community feedback.

FAQs

General

How often will the AVA Smart Bonus be conducted?

The AVA Smart Bonus v.1 is currently scheduled to be conducted every quarter. Therefore, there will be four opportunities to receive the AVA Smart Bonus per year.

Will I have to manually claim the AVA Smart Bonus?

Yes. As with the existing Ambassador Bonus for Diamond members, there will be a claim period of 2 weeks following the close of the Contributor Tasks where you will have to manually claim your AVA Smart Bonus in your Travala.com account. 

The AVA Smart Bonus will be claimable at the same time regardless of whether you choose to complete the Contributor Tasks or AVA minimum spend requirement. The AVA Smart Bonus and the Ambassador Bonus for Diamond members will coincide and be claimable at the same time.

Is the AVA Smart Bonus subject to change?

As with all crypto ecosystems, the technology and regulatory landscape is rapidly evolving. The AVA Smart Bonus amount and qualification requirements will therefore be periodically evaluated to ensure that the initiative remains sustainable and effective in its objective to increase the number of participants and activity within the AVA ecosystem while providing the best possible outcome for the community.

Qualification Requirements

What do I have to do to receive the AVA Smart Bonus?

In order to be eligible to receive the AVA Smart Bonus, you must be a Smart member by the final day of each quarter at 11:59 PM UTC and complete ONE of the following activities:

1. Complete the specified Contributor Tasks at the beginning of the following quarter; OR
2. Spend a minimum of US$50 worth of AVA on Travala.com within the quarter.

What will the Contributor Tasks be?

The goal of Contributor Tasks is to increase the awareness of both the AVA ecosystem and the utility of the AVA token. Contributor Tasks may include participating in community channels, creating social media posts, and a range of other online activities. The first round of tasks will be announced in January 2024 and will be available to complete via Gleam.

How long will the Contributor Tasks be open?

In v.1 of the AVA Smart Bonus, Contributor Tasks will be open for a period of 2 weeks at the beginning of each quarter.

What counts towards the AVA minimum spend requirement?

Any product available to purchase with AVA on Travala.com will contribute to the AVA minimum spend requirement, including completed travel bookings (inclusive of flights, hotels and activities), Travel Credit purchases, or Travel Gift Card purchases.

What if I book travel with AVA on Travala.com that I haven’t completed yet?

Any travel bookings that have not been completed by the end of the quarter will NOT count towards the AVA minimum spend requirement for that quarter. 

For example, if a return flight is booked with AVA on Travala.com that departs on 21 December 2023 and returns on 3 January 2024, this booking will NOT count towards the first round of the AVA Smart bonus, as only bookings that are completed from 1 October–31 December 2023 contribute to the requirement in the first round. However, this booking will count towards the second round of the AVA Smart Bonus, for which the applicable period will be 1 January–31 March 2024.

Do I have to redeem Travel Credits or Gift Cards in the same quarter that they’re purchased?

No. Any purchase of Travel Credits or Gift Cards on Travala.com equal to or above US$50 during a quarter will qualify for the AVA minimum spend requirement, regardless of when they are redeemed. Note that purchased Travel Credits and Gift Cards have no expiration date.

What if a booking I purchased with AVA on Travala.com is refunded?

Bookings made with AVA on Travala.com that are refunded will NOT count towards the AVA minimum spend requirement, regardless of whether they were voluntarily or involuntarily cancelled.

Does spending other cryptocurrencies on Travala.com apart from AVA count towards the AVA minimum spend requirement?

No. Only AVA purchases on Travala.com count towards the completion of this requirement. This is to promote the payments utility of AVA within the AVA ecosystem.

Membership Upgrades & Downgrades

What happens if I upgrade, downgrade or deactivate my membership during a quarter?

If you join the Smart Program, upgrade to a higher membership tier, or downgrade to a lower membership tier, you’ll be eligible to receive the AVA Smart Bonus for the membership tier that you held on the final day of the quarter at 11:59 PM UTC.

If you deactivate your Smart membership before claiming the AVA Smart Bonus, you will not be eligible to receive the AVA Smart Bonus.

What happens if I disconnect my wallet with my Travel Tiger NFT or move it to another wallet?

As long as your membership status is Smart Diamond on the final day of the quarter at 11:59 PM UTC, disconnecting your wallet and being temporarily downgraded to the Platinum tier throughout the quarter will not affect the AVA Smart Bonus amount that you can receive. You’ll still be eligible to receive the AVA Smart Bonus for Diamond members.

Legal.

This announcement and the AVA Smart Bonus v.1 program will be subject to the Smart Program Terms and Conditions. 

About AVA Foundation

The AVA Foundation’s overarching mission is to create a decentralised and self-sufficient blockchain-based loyalty ecosystem with AVA at its core. The AVA token functions as the key to accessing web3 loyalty programs and provides perks to end users, such as AVA payment discounts, AVA loyalty rewards, gated access benefits, and more. AVA tokenises the concept of loyalty reward programs using blockchain technology, bringing web3 to traditional loyalty models.

As detailed in the first announcement, the AVA token will soon migrate to a new Ethereum (ERC-20) contract. The new ERC-20 AVA token will be issued on a 1:1 basis for all existing versions of the AVA token, including BEP-2, BEP-20, and the existing ERC-20 version.

The token swap will commence on Monday 28 August 2023 at 03:00 AM UTC, with swap options supported for a 15-month period across centralised exchanges, the Travala.com platform, and third-party on-chain platforms.

Following the 15-month period, swap options on centralised exchanges, Travala.com, and third-party on-chain platforms will no longer be supported. Token holders that do not swap their tokens in this time period will need to contact the AVA Foundation directly to swap their AVA tokens to the new ERC-20 version.

Note: for the purpose of differentiating the AVA token before and after the upgrade, the pre-upgrade AVA token will be referred to as “AVA 1.0” and the post-upgrade AVA token as “AVA 2.0” in this article. However, the token name and ticker will be “AVA” following the token swap.

Legacy & New AVA Contract Addresses

AVA 1.0 tokens on any of the three legacy contract addresses on the BEP-2, BEP-20 and ERC-20 protocols will need to be swapped to the new ERC-20 version of the AVA 2.0 token.

This section details the legacy contract addresses and the new contract address that will take effect once the swap takes place:

Legacy Contract Addresses

Legacy BEP-2 AVA 1.0: LINK

Legacy ERC-20 AVA 1.0 Contract Address: 

0x442b153f6f61c0c99a33aa4170dcb31e1abda1d0

Legacy BEP-20 AVA 1.0 Contract Address:
https://bscscan.com/token/0x13616f44ba82d63c8c0dc3ff843d36a8ec1c05a9

New Contract Address

New ERC-20 AVA 2.0 Contract Address: 

0xa6C0c097741D55ECd9a3A7DeF3A8253fD022ceB9

New Contract Audit Link

PeckShield

Platforms Supporting the Swap

The following platforms have publicly announced their support for the AVA token swap. This list will be updated as platforms announce their support.

IMPORTANT: If, at the token swap date, your AVA 1.0 tokens are stored on a custodial wallet, non-custodial wallet or centralised exchange that is NOT on the following list, it is at your own risk and the recoverability of your funds cannot be guaranteed. Support for AVA 1.0 tokens on third-party platforms following the upgrade and your ability to withdraw your AVA 1.0 tokens is at the discretion of each platform.

Centralised Exchanges

AVA 1.0 tokens stored on centralised exchanges supporting the swap at the time of the token swap will be automatically swapped to AVA 2.0 and no action will be required by token holders.

Centralised exchanges that have announced their support for the AVA token swap include:

• Binance
• Gate.io
• MEXC
• Bitrue
• KuCoin
• WazirX
• Bybit
• CoinDCX
• BYDFi

Travala.com

AVA 1.0 tokens stored in the platform wallet or in the Smart Program on Travala.com at the time of the token swap will be able to be swapped to AVA 2.0. AVA 1.0 tokens on the legacy BEP-2, BEP-20 or ERC-20 protocols can be sent to the platform wallet at any time within the 15-month period in order to swap these tokens to the new AVA 2.0 ERC-20 token. Read more.

DEXs, Cold Wallets & Self-custody Wallets

AVA 1.0 tokens stored in decentralised exchanges or platforms, cold wallets and self-custody wallets at the time of the token swap will require manual swapping to AVA 2.0 by token holders following the token swap date. 

Token holders can manually swap their AVA 1.0 tokens on the legacy BEP-2, BEP-20 or ERC-20 protocols for the AVA 2.0 ERC-20 token at the following third-party on-chain platforms:

• ChangeNOW (BEP-2, BEP-20 & ERC-20): ACCESS SWAP PORTAL HERE

Update Log

As platforms are added to the list, the list will be updated above with new links and logged in this section.

Added on 29 August 2023:

• Gate.io

Added on 12 September 2023:

• KuCoin
• WazirX

Added on 14 September 2023:

• Bybit

Added on 11 October 2023:

• CoinDCX
• BYDFi

A governance vote on the AVA 2.0 Proposal has passed, with the majority of the community signalling a new era for the AVA ecosystem. As part of this new era, a technical upgrade will be implemented by the AVA Foundation to swap all existing versions of the AVA token to a new AVA token on the Ethereum (ERC-20) protocol.

The AVA ecosystem has grown exponentially over the past few years. The AVA Foundation’s partnership with Travala.com has been a key driver of this growth, with Travala.com becoming firmly established as the leading web3 travel company and a main use case of the AVA token.

As the issuer of the AVA token, the AVA Foundation’s overarching mission is to create a decentralised, self-sufficient, and blockchain-based loyalty ecosystem with AVA at its core. By modernising the traditional loyalty points model and multiplying the utility of these ‘points’ within an expansive ecosystem via tokenisation, the AVA token can power a comprehensive web3 loyalty ecosystem to provide far-reaching utility.

To achieve this sustainably over the long term and at scale commensurate with the growth of the ecosystem, the AVA Foundation will expand the AVA token supply from the current 61 million to 100 million over 10 years, which will be included in the new AVA ERC-20 smart contract.

This article serves to detail the mechanics of the swap, the actions required by token holders, and both the legacy and new AVA contract addresses.

The swap date will be provided in the next announcement, along with more details on the platforms supporting the swap.

Note: for the purpose of differentiating the AVA token before and after the upgrade, the pre-upgrade AVA token will be referred to as “AVA 1.0” and the post-upgrade AVA token as “AVA 2.0” in this article. However, the token name and ticker will remain “AVA” following the token swap.

Before the Swap

Currently, the AVA 1.0 token exists as a multichain token on the BEP-2, BEP-20 and ERC-20 protocols.

After the Swap

Following the token swap, all legacy versions of the AVA 1.0 token will need to be swapped to the new AVA token on the Ethereum (ERC-20) protocol.

The new AVA 2.0 token will be issued on a 1:1 basis for existing AVA 1.0 holders. The token name will be updated from “Travala.com” to “AVA”. The ticker name will not change.

Legacy & New AVA Contract Addresses

AVA 1.0 tokens on any of the three legacy contract addresses on the BEP-2, BEP-20 and ERC-20 protocols will need to be swapped to the new AVA 2.0 ERC-20 version of the token.

This section details the legacy contract addresses and the new contract address that will take effect once the swap takes place:

Legacy Contract Addresses

Legacy BEP-2 AVA 1.0: AVA-645

Legacy ERC-20 AVA 1.0 Contract Address: 

0x442b153f6f61c0c99a33aa4170dcb31e1abda1d0

Legacy BEP-20 AVA 1.0 Contract Address:
0x13616f44ba82d63c8c0dc3ff843d36a8ec1c05a9

New Contract Address

New ERC-20 AVA 2.0 Contract Address: 

0xa6C0c097741D55ECd9a3A7DeF3A8253fD022ceB9

How the Token Swap Will Work

Depending on where token holders have their AVA tokens stored at the time of the token swap, there may be action required:

Centralised Exchanges

The AVA Foundation is working closely with centralised exchanges to enable AVA 1.0 tokens that are stored on centralised exchanges supporting the swap at the time of the token swap to be automatically swapped to AVA 2.0. More information will be provided in the following announcement.

Travala.com

AVA 1.0 tokens stored in the platform wallet or in the Smart Program on Travala.com at the time of the token swap will be able to be swapped to AVA 2.0.

DEXs, Cold Wallets & Self-custody Wallets

AVA 1.0 tokens stored in decentralised exchanges or platforms, cold wallets and self-custody wallets at the time of the token swap will require manual swapping to AVA 2.0 by token holders following the token swap date. 

Swap options will be supported for a 15-month period and will include:

• Depositing AVA 1.0 tokens to any centralised exchange supporting the token swap, which will then be automatically swapped to AVA 2.0. Centralised exchanges supporting the token swap will be detailed in the following announcement.
• Depositing AVA 1.0 tokens to the platform wallet on Travala.com, which will then be swapped to AVA 2.0.
• Using a decentralised token swap tool to swap legacy AVA 1.0 tokens to AVA 2.0, the details of which will be provided in the following announcement.

Following the 15-month period, swap options on centralised exchanges, Travala.com, and third-party on-chain platforms will no longer be supported. Token holders that do not swap in this time period will need to contact the AVA Foundation directly to swap their AVA 1.0 tokens to AVA 2.0.

More Details to Follow

The implementation of this upgrade will ensure the AVA token is able to be efficient, widely supported and versatile in its utility.

The AVA Foundation appreciates the community’s support during this swap period and will continue to provide updates on the latest developments.

More details specifying the date of the token swap and the platforms supporting the swap will be provided in the next announcement. 

IMPORTANT: the swap date has not yet been announced, and the AVA token is not yet available to swap. This article will be updated when the swap functionality becomes available. Beware of scammers and anyone claiming to be affiliated with the AVA token online, especially via personal messages. The team will NEVER message you first. Stay vigilant and always refer to official sources on www.avafoundation.org and AVA & Travala.com social channels.

Stay updated:

Twitter | Telegram | Discord

About AVA Foundation
The AVA Foundation’s overarching mission is to create a decentralised and self-sufficient blockchain-based loyalty ecosystem with AVA at its core. The AVA token functions as the key to accessing web3 loyalty programs and provides perks to end users, such as AVA payment discounts, AVA loyalty rewards, gated access benefits, and more. AVA tokenises the concept of loyalty reward programs using blockchain technology, bringing web3 to traditional loyalty models.

• The Travel Tiger NFT will serve as the key to access the new Smart Diamond Tier
• Smart Diamond members will be eligible to earn ambassador bonuses
• 900 Founders Edition NFTs sold exclusively to whitelisted Smart 5 members

Introducing the Travel Tigers

The “Travel Tigers” are a collection of 1,000 unique randomly generated NFTs, the first in the series to be released on the Ethereum Chain. Each NFT is unique and is the key to the Smart Diamond membership.

The Travel Tigers are nomadic travellers who roam the world to their heart’s content, savouring the bountiful luxuries of rich cultures in every corner of the globe. From sunbathing on the Riviera to scaling Mount Everest, the Travel Tigers use the Earth as their personal playground, letting their instincts dictate their adventures. Private jets to secluded islands? Check. Palatial yachts in the Mediterranean? Naturally. Helicopters above the Andes? Only every other week. Collectively, the Travel Tiger entourage pushes the definition of ‘bucket list’ to its limits, leaving no stone unturned in their opulent escapades.

The Smart Diamond membership will be available to users that lock up 2,500 AVA and also connect their Travel Tiger NFT.

The Benefits

All Smart Diamond members will be eligible to earn Ambassador Bonuses—Travel Credit rewards that are available to claim every quarter by performing marketing tasks.

The Smart Diamond membership also provides members with the opportunity to receive travel drops. These travel prizes are drawn at random, which may range from luxury hotels to flight tickets and even private retreats.

In addition to the the Ambassador Bonus and travel drops, Smart Diamond members will also receive a range of other benefits, including:

• Up to 10% loyalty rewards giveback paid in AVA
• Up to 3% discount when paying in full with AVA
• 5,000 Governance Votes on proposals
• Concierge.io access for bookings over US$20k
• Proof of Travel NFT program
• TRVL token airdrops
• Access to exclusive community forums and both online and in-person events

The Travel Tiger NFT, along with locking 2,500 AVA, serves as the keys to activating the Smart Diamond status. The NFT can be bought and sold on the OpenSea NFT marketplace. Royalties will be collected from all secondary market trading of the Travel Tiger NFTs, of which 50% will go into the AVA Community Pool to fund community-driven initiatives.