Introducing the AVA Community Pool
From 1 August 2021, Travala.com will introduce the “Community Pool”, which will replace the existing Repurchasing and Burn Program immediately as well as the Smart Bonus APY of which the last bonus payout will be made on 4th August. Each month, 30% of all net revenues from Travala.com will be converted to AVA and added to the Community Pool.
As we continue to work towards greater decentralisation, the funds in the AVA Community Pool will be allocated by the community via the newly introduced “Community Vote”. This feature will increase the utility of the AVA token, further contributing to the transparency of Travala.com and the broader cryptocurrency ecosystem.
The progressively decentralised model underpinning the Community Vote will provide our community with a mechanism to determine aspects of Travala.com’s future, with AVA token holders able to vote on how funds in the Community Pool are spent. Initially, proposals will be put forward by our team based on sentiment from the community, with the view to open proposal submissions to the community in the future
We propose to use the Community Pool to turbo-charge our growth by using it in a number of focus areas, including:
- Creating an ERC-20 version of AVA allowing us to expand the use cases of AVA, reach new user bases and grow the number of AVA token holders
- Creating liquidity pools on different DEXs, such as Uniswap, Pancake Swap, Sushi Swap, and Balancer
- Entering into DeFi and CeFi partnerships
- Travala Smart card with global airport lounge access
- AVA farming for NFTs, and much more
How will the Community Vote work?
AVA token holders that hold an active Smart membership on Travala.com will be able to vote in favor of or against proposals directly from the new voting area on Travala.com. Votes are allocated in proportion to the member’s applicable Smart Level, with SMART Level 1 members receiving one vote and SMART Level 5 members receiving five votes.
Travala.com will purchase AVA equivalent to 30% of all net revenues on a monthly basis to fund the AVA Community Pool.