The AVA token and Travel Tiger Club NFTs power blockchain loyalty programs such as the AVA Smart Program on https://www.travala.com/smart
The AVA token and Travel Tiger Club NFTs power blockchain loyalty programs such as the AVA Smart Program on https://www.travala.com/smart
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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.
Circulating Supply: 51,487,051 AVA
Total Supply: 61,011,389 AVA
Maximum Supply: 100,000,000 AVA
Contract Address: 0xa6c0c097741d55ecd9a3a7def3a8253fd022ceb9
Audit Report: PeckShield & CertiK
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.
There are five primary AVA wallet addresses used within the AVA ecosystem, with each serving a different function. These five wallet addresses are:
Smart Program Lockup: 0x259AfCF4bb259371b9461753dabE7175e92dE7D4
Community Pool: 0xE234857A497deCf6239911C8190c195a0eaBB638
Ecosystem Incentives: 0xeeAE71ecbD3F1DEc07C0835736ac6DEA4f9D722E
Ecosystem Growth: 0x28BD58598CBcC89C177a6a8e35c74e8885C745Fa
Foundation Reserve: 0x70C37410904dE2a53DF9c6DF725424D871E234d7
This wallet contains the AVA locked in the Smart Program by Smart members.
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.
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 Foundation Smart Program implemented on Travala.com 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 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.
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.
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?”.
Users can make payments in AVA, including within the Travala.com platform for bookings, Travel Credits and Gift Cards. The key benefits of paying with AVA include special discounts on Travala.com 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.
Users require AVA tokens to access certain products and services within partner ecosystems. For example, the Smart Program enables users to lock up AVA to access the 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.com platform decisions.
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.
Decentralised governance features for the AVA ecosystem will be introduced via Snapshot to provide greater community involvement, enabling voting on use cases related to the AVA token as well as submission of community proposals as part of the progressive decentralisation of the AVA ecosystem. To submit and vote on proposals, participants will need to be AVA holders. Voting power is based on a holder’s AVA balance.
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.
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 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.
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.com, for example, the traveller receives up to 10% of the booking price back in AVA based on their Smart Program Membership. .
Referral programs are a proven and effective method for attracting new users to an ecosystem. By implementing AVA referral rewards in partner ecosystems, users can refer friends and family to get rewarded for each referral in AVA. On Travala.com, for example, when the referee makes a successful hotel booking, they receive a US$25 reward in AVA. The referrer also receives US$25 in AVA for every invited friend who purchases a booking that meets the minimum value and completes the stay at the property.
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.
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.
Circulating Supply: 51,487,051 AVA
Total Supply: 61,011,389 AVA
Maximum Supply: 100,000,000 AVA
Contract Address: 0xa6c0c097741d55ecd9a3a7def3a8253fd022ceb9
Audit Report: PeckShield & CertiK
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.
There are five primary AVA wallet addresses used within the AVA ecosystem, with each serving a different function. These five wallet addresses are:
Smart Program Lockup: 0x259AfCF4bb259371b9461753dabE7175e92dE7D4
Community Pool: 0xE234857A497deCf6239911C8190c195a0eaBB638
Ecosystem Incentives: 0xeeAE71ecbD3F1DEc07C0835736ac6DEA4f9D722E
Ecosystem Growth: 0x28BD58598CBcC89C177a6a8e35c74e8885C745Fa
Foundation Reserve: 0x70C37410904dE2a53DF9c6DF725424D871E234d7
This wallet contains the AVA locked in the Smart Program by Smart members.
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.
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 Foundation Smart Program implemented on Travala.com 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 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.
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.
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?”.
Users can make payments in AVA, including within the Travala.com platform for bookings, Travel Credits and Gift Cards. The key benefits of paying with AVA include special discounts on Travala.com 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.
Users require AVA tokens to access certain products and services within partner ecosystems. For example, the Smart Program enables users to lock up AVA to access the 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.com platform decisions.
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.
Decentralised governance features for the AVA ecosystem will be introduced via Snapshot to provide greater community involvement, enabling voting on use cases related to the AVA token as well as submission of community proposals as part of the progressive decentralisation of the AVA ecosystem. To submit and vote on proposals, participants will need to be AVA holders. Voting power is based on a holder’s AVA balance.
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.
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 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.
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.com, for example, the traveller receives up to 10% of the booking price back in AVA based on their Smart Program Membership. .
Referral programs are a proven and effective method for attracting new users to an ecosystem. By implementing AVA referral rewards in partner ecosystems, users can refer friends and family to get rewarded for each referral in AVA. On Travala.com, for example, when the referee makes a successful hotel booking, they receive a US$25 reward in AVA. The referrer also receives US$25 in AVA for every invited friend who purchases a booking that meets the minimum value and completes the stay at the property.
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.
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