Travala

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Discover Travala's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Travala?

Travala (AVA) is a cryptocurrency designed for a travel booking platform that offers a loyalty program, discounts, and rewards. It allows users to book hotels, flights, and activities while utilizing blockchain technology for secure payments and loyalty rewards management. The AVA token provides exclusive benefits, including discounts, givebacks, and voting rights, and can be used for payments on the platform or traded on various exchanges.

How is Travala used?

The Travala (AVA) token is the native utility token of the Travala.com platform, which allows users to book hotels, flights, and other travel services using cryptocurrencies. Here are the key ways AVA is used:

  1. Payment Method: AVA can be used as a payment method for booking travel services on Travala.com. Users can select AVA as their payment method and receive discounts on their bookings.

  2. Loyalty Program: The AVA token is central to Travala's loyalty program, called the AVA Smart Program. This program offers various benefits, including discounts, crypto rewards, and AVA payment discounts. Users can lock a specific amount of AVA tokens to access these benefits.

  3. Discounts and Rewards: By using AVA, users can receive discounts on travel bookings, up to 13% cheaper rates, and rewards in AVA, Bitcoin, or Travel Credits. The higher the user's tier in the Smart Program, the greater the rewards.

  1. Governance: AVA token holders have governance voting rights on key platform proposals, allowing them to participate in shaping the future of Travala.com.

  2. Speculation: AVA can be bought, sold, and traded on various exchanges, making it a speculative investment opportunity for crypto traders.

  3. Utility Beyond Travel: The use cases of AVA extend beyond travel, as it can be used for other goods and services or traded for other currencies, providing users with flexibility.

Overall, the AVA token simplifies the use of the Travala platform, offers various benefits, and provides a secure payment method for users.

How do I store Travala?

To store Travala (AVA) tokens, you can use the following methods:

  • Travala.com Wallet: You can create a wallet on Travala.com and deposit your NEP5 tokens. Your AVA tokens will automatically be transferred to the new Bep2 chain.
  • Trust Wallet: You can add AVA to your Trust Wallet by installing and configuring the wallet, using the 'Receive' function, locating AVA, and manually adding it.
  • Other Supported Wallets: You can also use other wallets listed on Travala.com to store your AVA tokens.

Additionally, if you have AVAOLD tokens, you can deposit them to your platform wallet on Travala.com and they will be swapped to the new AVA token. This process involves selecting the network of the AVAOLD tokens, copying the deposit address and memo (if necessary), and accepting the AVA Token Upgrade Terms & Conditions.

How to buy Travala?

To buy Travala (AVA) tokens, you can follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports AVA trading. Currently, AVA is available on KuCoin and Binance, but not on Kriptomat.

  2. Create an Account: Register for an account on the chosen exchange. This typically involves providing personal details and verifying your identity to comply with regulations.

  3. Fund Your Account: Deposit funds into your exchange account using a supported payment method, such as credit/debit cards, bank transfers, or other cryptocurrencies like Bitcoin (BTC) or Tether (USDT).

  1. Purchase AVA: Navigate to the AVA trading page on the exchange and enter the amount you wish to purchase. You can use your deposited funds to buy AVA tokens.

  2. Store Your AVA: Once you have purchased AVA, ensure you have a secure wallet to store your tokens. You can use the exchange's built-in wallet or transfer your AVA to a personal wallet for added security.

Please note that some exchanges, like Kriptomat, do not currently support direct AVA purchases. You may need to buy another cryptocurrency first and then exchange it for AVA. Additionally, some exchanges have restrictions based on your location, so ensure you check the exchange's terms and conditions before proceeding.

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History of Travala

Travala (AVA) is the native cryptocurrency of Travala.com, a blockchain-based travel booking service. The platform was founded in 2017 and has since grown to offer over 3 million travel products worldwide, including hotels, homes, flights, tours, and activities.

Travala.com conducted its Initial Coin Offering (ICO) on March 31, 2018, where the AVA token was priced at $0.35. During the ICO, $2,640,110 was raised, with 65% of the tokens sold. The remaining tokens were allocated to founders and team members (15%) and for research and development (20%).

The AVA token has seen significant growth, reaching an all-time high of $2.46 in August 2020. It is listed on various platforms, including NOWPayments and SimpleSwap, allowing users to accept it as payment and engage with the loyalty program on Travala.com.

The platform's vision is to increase crypto adoption through travel, promoting accessibility, censorship-resistant transactions, and a user-governed travel ecosystem. The AVA token plays a crucial role in this vision, offering users a range of benefits, including discounts, loyalty rewards, and the ability to book travel services using the token.

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How Travala works

Travala (AVA) is a cryptocurrency designed to facilitate travel bookings and loyalty rewards through its platform. Here's how it works:

Consensus Layer and Scalability

The Travala Consensus Layer is built upon the NEO blockchain foundation, utilizing the Delegated Byzantine Fault Tolerant (dBFT) protocol. This protocol combines the features of delegated Proof of Stake systems, allowing for fast transaction processing. The platform aims to process 1000 transactions per second, with plans to increase scalability to 100,000 transactions per second in the future.

Token Functionality

The AVA token is the core of the Travala ecosystem. It tokenizes loyalty reward programs using blockchain technology, providing users with various benefits such as discounts, rewards, and gated access. AVA tokens can be used to pay for travel bookings, and users receive cash back in AVA tokens for each booking. Additionally, 3% of each booking is "bought back" from the market to supply the community fund, which is used to improve the platform and token.

Booking Process and Loyalty Program

The booking process involves selecting travel arrangements on Travala.com, entering required details, and choosing AVA as the payment method. Users receive discounts and cash back in AVA tokens for their bookings. The AVA Smart Program offers additional benefits, such as discounts, givebacks, and voting rights, to users who lock up their AVA tokens.

Token Supply and Scarcity

There is a capped supply of 61 million AVA tokens, which are already minted. With each booking, a portion of the tokens are removed from circulation, increasing scarcity and potentially driving up demand. The SMART Program also locks up a significant portion of the circulating supply, further reducing availability.

Payment and Supplier Management

Travala pays suppliers in fiat currency, even if bookings are made with AVA tokens. The platform converts a portion of its revenue into AVA tokens, which are then used to fund the community governance pools. This process helps maintain a balance between the supply and demand of AVA tokens.

Token Swap and Upgrade

The AVA Foundation has announced plans for a token swap to the Ethereum (ERC-20) protocol, which will upgrade the existing AVA tokens. Token holders will have a 15-month period to swap their legacy tokens for the new ones. The swap date has not been set yet, but more information will be provided in future announcements.

Overall, Travala's AVA token is designed to create a decentralized and self-sufficient loyalty ecosystem, offering users a range of benefits and incentives for using the platform.

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Travala's strengths

The token Travala (AVA) has several strengths that contribute to its value and utility:

  1. Native Cryptocurrency: AVA is the native cryptocurrency of Travala.com, a blockchain-based travel booking platform. This integration allows users to make payments, receive loyalty rewards, and enjoy discounts on travel bookings.

  2. Multi-Payment Options: Travala.com supports over 30 different cryptocurrencies for payments, making it a versatile platform for users with various cryptocurrency holdings.

  3. Loyalty Program: The AVA Smart Program offers users rewards and discounts based on their AVA token holdings and usage. This includes annualized bonuses, discounts on bookings, and governance voting rights.

  1. Security and Transparency: The platform operates on the Binance blockchain, ensuring a secure and transparent environment for transactions. This transparency is further reinforced by the lack of hidden fees, making it an attractive option for users.

  2. Wide Adoption: Travala.com has partnered with over 3 million travel products worldwide, including hotels, homes, flights, tours, and activities. This extensive network provides users with a wide range of options for booking travel arrangements.

  3. Speculation and Investment: AVA tokens can be bought and sold for speculation, allowing crypto traders to potentially profit from market fluctuations.

These strengths collectively enhance the value and usability of the AVA token, making it an attractive option for users of the Travala.com platform.

Travala's risks

Travala (AVA) is associated with several financial risks. These risks include:

  • Market Volatility: The value of AVA tokens can fluctuate rapidly and unpredictably, leading to potential losses for investors.
  • Lack of Governance Rights: Holders of V3 AVA tokens do not have any governance rights, meaning they have no influence over decisions made by the Issuer or the Company, which could negatively impact the token's value.
  • Security Weaknesses: The AVA Website and Travala Platform are built on open-source software, which can be vulnerable to intentional or unintentional weaknesses, bugs, or hacking, potentially leading to the loss of tokens.
  • Cryptographic Risks: Advances in cryptography or technical breakthroughs, such as quantum computing, could render the cryptographic consensus mechanism ineffective, compromising the security and value of AVA tokens.
  • Lack of Adoption: If the AVA Ecosystem fails to gain widespread acceptance and use, the value of AVA tokens may be limited or non-existent.
  • Dissolution of the Issuer: The Issuer or the AVA Ecosystem may dissolve or fail due to various reasons, including development issues, lack of funding, or competing intellectual property claims, which could result in the loss of token value.
  • Regulatory Risks: The regulatory environment for digital assets is still developing and may limit access to AVA tokens or impose unforeseen restrictions, affecting their value.
  • Depositor Protection: Deposits made to accounts or external wallets may not be protected by government-backed depositor compensation, insurance, or guarantee schemes.

These risks highlight the importance of thorough research and careful consideration before investing in Travala (AVA).

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Travala’s team

  • Matthew Luczynski: Co-Founder and Strategic Advisor, known for founding Travala at the age of 22 and later moving into the NFT space with HoDooi.
  • Juan Otero: CEO, responsible for leading the company after the merger with TravelbyBit.
  • Alexis Sirkia: Strategy Advisor, founder of Yellow.com, a leading blockchain incubator and accelerator, bringing extensive experience in IT operations and security.
  • Caleb Yeoh: Business Development Advisor, focused on building relationships and identifying opportunities for the company.
  • Drew Currah: Financial Advisor, responsible for advising on financial operations with experience from companies like De Beers Group and Christopher Guy.
  • Alan Pham: Senior Backend Developer, Technical Lead, and one of the longest-serving team members, responsible for server-side development and database management.
  • Chris Pham: Senior Frontend Developer, responsible for building Travala.com products with modern web application user interfaces.
  • Abert Nguyen: Senior Backend Developer, in charge of creating and coding server-side applications and databases.
  • Alex Tran: Senior Mobile Developer, responsible for developing Travala.com’s mobile apps on different platforms.
  • Aaron Le: Senior Frontend Developer, works on implementing the user interface and SEO tasks.
  • Frank Le: Senior DevOps Engineer, experienced in implementing blockchain services on various platforms.
  • Johnny Le: Frontend Developer, responsible for developing the front-end web application and analyzing website issues.
  • Otis Nguyen: Frontend Developer, builds website interfaces using HTML/CSS and works on other assigned tasks.
  • Robert Nguyen: Frontend Developer, experienced in programming languages like JavaScript, Java, and Solidity.
  • Moon Le: QA/QC Tester, works on finding bugs and creating test plans.
  • Tracy Ngo: QA/QC Tester, responsible for performing testing and logging bugs for the development team.
  • Thishalla: Executive Assistant, brings over 20 years of experience in hotel administration and customer management.

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