Key Takeaways
The AVA token powers the AVA Smart Program, a Web3 travel loyalty program available on Travala.com.
The AVA Smart Program offers up to 13% savings with crypto rewards, discounts, bonuses, and more.
AVA is used to upgrade Smart memberships, receive payment discounts, and distribute rewards.
Introduction
Traditional travel loyalty programs can be restrictive, offering points that can only be used on one platform. The value of these points is devalued over time due to inflation, and points often expire if unused. AVA changes this, functioning as a travel loyalty ecosystem for Web3 travelers.
What Is AVA?
The AVA token powers the AVA Smart Program, a Web3 travel loyalty program that offers crypto rewards. Designed by the AVA Foundation, the program is available on Travala.com—the world’s leading Web3 travel platform with over 3,000,000 flights, hotels, and activities—and offers savings of up to 13% on every travel booking.
The overarching mission of the AVA Foundation is to create a decentralized, self-sufficient, and interconnected blockchain-based loyalty ecosystem with AVA at its core. The AVA Foundation aims to realize this mission by introducing the AVA Smart Program to partner projects in a cost-effective manner via a plug-and-play approach that provides participants with significantly greater utility, transparency, and autonomy over their rewards.
How Does AVA Work?
AVA is an ERC-20 token with bridge options available to BNB Chain and Solana. Users can activate their travel loyalty membership—the “Smart membership”—within the AVA Smart Program by locking the required amount of AVA tokens through the program.
Once activated, members receive various perks that increase with each membership tier. These perks include:
Up to 10% of every trip on Travala.com back in “giveback” rewards in AVA, Bitcoin, and more.
Discounts of up to 5% on Travala.com.
An extra up to 3% discount on Travala.com if booking in full with AVA.
Up to 20% bonus AVA tokens per year on locked AVA by meeting quarterly requirements.
Airdrop allocations for early-stage token partner projects.
The highest membership tier of the program, Smart Diamond, is activated with a Travel Tiger NFT and 2,500 AVA. It offers several premium perks, including additional quarterly Travel Credit rewards, airport lounge access, entry into travel giveaways, and more.
What Makes AVA Unique?
AVA’s real-world utility within one of the largest industries in the world sets it apart from other Web3 projects. Embodying the concept of customer loyalty programs using blockchain technology extends the applications of loyalty programs beyond that which can be achieved with traditional models.
By offering a suite of Web3 loyalty functions that can be greatly customized and refined, AVA aims to extend the value proposition of partner projects, increase customer retention and loyalty, and create an interconnected rewards ecosystem between all partner platforms.
What is the AVA Token?
The AVA utility token is specifically designed to (1) power the AVA Smart Program, (2) offer payment alternatives on partner platforms, and (3) provide governance options for the community.
1. AVA Smart Program
AVA powers the AVA Smart Program via a combination of use cases, including using AVA to receive perks—such as discounts, memberships, exclusive benefits, and early access—and as a rewards token to offer AVA through givebacks, bonuses, and more.
2. Payments
In addition to the token’s loyalty reward capabilities, AVA is available as a payment option on various platforms. This enables loyalty program participants to seamlessly utilize AVA for partner goods and services, whether earned as rewards via the AVA Smart Program or acquired independently, creating an open loyalty economy rather than a closed one.
3. Governance
Finally, AVA tokens are also used as a governance tool for the AVA community, with the number of AVA held by a community member representing their voting weight. By enabling loyalty program participants to vote on (and eventually submit) proposals relating to the AVA ecosystem, this function can help determine community sentiment about various topics.
The AVA Ecosystem
There are five primary functions within the AVA ecosystem that enable the ecosystem to sustain itself, adapt and grow. The AVA supply follows a token release schedule that introduces new tokens to the ecosystem every 3 months, up to a maximum of 100,000,000 AVA, which is expected to be reached in 2033. AVA that is contributed for each of these functions every 3 months but not spent accrues for future use.
Community Pool: The Community Pool funds proposals voted on and successfully passed by the community. Community Pool funds will be used only if proposals are passed.
Ecosystem Incentives: The AVA in the Ecosystem Incentives wallet is used to support partners that adopt the AVA token. For example, loyalty benefits offered as part of the AVA Smart Program include AVA givebacks and AVA Smart Bonuses that are distributed from the Ecosystem Incentives wallet.
Ecosystem Growth: Ecosystem Growth funds are used to undertake initiatives that provide growth opportunities for the AVA ecosystem, such as engaging in partnerships or expanding reach through paid marketing activities.
Foundation Reserve: The Foundation Reserve contains AVA that is available for the AVA Foundation to use for the betterment of the AVA ecosystem with a long-term vision of progressive decentralization.
AVA Smart Program Lockup: This function refers to the AVA locked in the AVA Smart Program by Smart members.
How to Buy AVA on Binance
AVA is available for purchase on Binance in one of two ways: via credit/debit card, or by trading against other cryptocurrencies. To purchase AVA with a credit or debit card, log in to Binance, then click ‘Buy Crypto’ on the top left-hand side of the Binance website. Select your currency, choose AVA, select from the payment options, and follow the prompts to complete your transaction.
Alternatively, you can trade AVA on Binance by navigating to Trade > Spot in the top left-hand side of the Binance website. Then, search for AVA in the search bar on the right-hand side of the trading chart and select either the AVA/USDT or AVA/BTC trading pair.
What’s Next for AVA
Beyond the ongoing function of developing further loyalty benefits for Smart members, one of the most game-changing initiatives in the loyalty program space will be the creation of the AVA Open Loyalty Protocol. The protocol will bring together the various loyalty features of the AVA Smart Program to create an interconnected loyalty ecosystem—the core objective of the AVA Foundation.
This model will enable a smart contract-based AVA Smart Program to function as the bridge between communities by seamlessly connecting partner projects with AVA Smart Program members using Web3 wallets.
Members will be able to access the smart contract-based AVA Smart Program on participating platforms via their self-custody wallets, such as MetaMask or WalletConnect, and their membership will be tied to their wallets (as opposed to an email-based membership account on Web2 platforms).
Closing Thoughts
As the blockchain and Web3 landscape continues to mature, the AVA ecosystem endeavors to become a leading provider of Web3 membership value. By expanding the benefits offered by the AVA Smart Program, fostering a network of projects utilizing the AVA token, and innovating in the loyalty space using cutting-edge technology, the AVA Foundation seeks to achieve the creation of a vast, interoperable, and rewarding ecosystem.