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AVA+ Rewards Terms and Conditions

1. INTRODUCTION

1.1 These AVA+ Rewards Terms and Conditions (“AVA+ Rewards Terms”) govern your participation and use of AVA+ Rewards, an additional loyalty rewards perk of the AVA Smart Program that enables members of the AVA Smart Program to lock up additional AVA Tokens via their on-chain self-custody wallets within a smart contract and receive bonus AVA Tokens for their participation in the AVA+ loyalty perk (“AVA+ Rewards” or “Rewards”). Particulars of the AVA+ Rewards are further detailed in Clause 2 below.

1.2 The AVA+ Rewards perk is managed by AVA Holdings (BVI) Ltd (Company Registration Number: 2130999), a company incorporated in the British Virgin Islands whose registered office is at Jayla Place, 2nd Floor Road Town, Tortola British Virgin Islands VG1110 (“AVA Holdings” or “we”, “our”, or “us”).

1.3 These AVA+ Rewards Terms shall be supplemental to and read together with the AVA Smart Program Terms and Conditions (“AVA Smart Program Terms”). All definitions, terms and clauses contained in the AVA Smart Program Terms (except to the extent expressly modified herein) are incorporated by reference and shall have the same force and effect as if set out in their entirety in these AVA+ Rewards Terms. For the avoidance of doubt, AVA+ Rewards shall be considered as an extension of the “Services” as defined in the AVA Smart Program Terms. In the event of any conflict or inconsistency between these AVA+ Rewards Terms and the AVA Smart Program Terms, these AVA+ Rewards Terms shall prevail with respect to the subject matter contemplated hereunder, unless expressly stated otherwise.

1.4 By participating in the AVA+ Rewards perk, you acknowledge and agree to be bound by these AVA+ Rewards Terms and the AVA Smart Program Terms (collectively referred to herein as the “Terms”). If you do not fully understand or agree with these Terms, you must not participate in AVA+ Rewards.

1.5 We may revise the Terms at any time with or without notice to you. These changes shall take effect whenever the relevant website, portal or platform where these Terms are published, displayed or linked is updated with newer Terms. Your use or continued access of the Sites and/or AVA+ Rewards shall constitute acceptance of any changes to these Terms. It is your sole responsibility to check the Sites for updates or amendments from time to time and you waive any right to receive notice of such changes. If you do not agree to any revisions of these Terms you must immediately stop participating in AVA+ Rewards.

1.6 You acknowledge and agree that any information provided on the Sites in relation to the AVA+ Rewards perk is provided solely for your information. Nothing on the Sites relating to the AVA+ Rewards perk constitutes an offer to sell or a solicitation of an offer to participate, buy or invest in any financial product or service. Any information provided is not, and should not be treated as, investment, financial, tax, or legal advice. By participating, you represent that your decision is based solely on your own initiative, research, and due diligence, and you understand the risks involved.

2. AVA+ REWARDS PARTICIPATION, TIERS AND MECHANICS

2.1 To be eligible to participate in the AVA+ Rewards perk, you represent, warrant, and agree that you:

1. Are an existing AVA Smart Program member of any of the following smart tiers: Steel, Bronze, Silver, Gold, Platinum, or Diamond;
2. Will maintain a compatible self-custody wallet as stipulated under Clause 3.1 below and retain connection of your self-custody wallet with the AVA+ Rewards perk, subject to the condition in Clause 3.2 below;
3. Are the legal and beneficial owner of the AVA Tokens to to be locked up in AVA+ Rewards perk, and that such AVA Tokens are not, directly or indirectly, the proceeds of any criminal or fraudulent activity;
4. Are not a person or entity who is named on, or owned or controlled by any person or legal entity sanctioned by the United Nations, United States of America, European Union, United Kingdom or any other Government Authority that have enforced sanctions which we are required to comply with in accordance with Applicable Laws. You are also prohibited from participating in the AVA+ Rewards perk if you are a resident of, or otherwise located or domiciled in any of the following jurisdictions: Australia, Cuba, Democratic People’s Republic of North Korea, Islamic Republic of Iran, Libya, People’s Republic of China, Russia, South Sudan, Sudan (North), The Crimea, the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, United States of America, Vietnam or any other jurisdiction in which we may determine from time to time at our sole discretion;
5. Have checked and can ensure that participating in the AVA+ Rewards perk does not contravene any laws and/or regulations applicable to you, whether in the jurisdiction of your residence or otherwise; and
6. Are participating in the AVA+ Rewards perk solely at your own risk and have sufficient knowledge and experience in blockchain technology, digital assets and cryptocurrencies (including the AVA Token), and their associated risks to evaluate the merits of participation without relying on any information provided by us.

2.2 Your AVA+ Rewards correspond to your current AVA Smart Program membership tier. The AVA+ Rewards and maximum lock-up caps applicable to each membership tier are set out below, with AVA+ Rewards subject to Clause 2.3(c):

1. Smart Steel: Maximum Lock-up Cap of 10,000 AVA Tokens with AVA+ Rewards equal to 5% of locked AVA per year;
2. Smart Bronze: Maximum Lock-up Cap of 20,000 AVA Tokens with AVA+ Rewards equal to 5% of locked AVA per year;
3. Smart Silver: Maximum Lock-up Cap of 50,000 AVA Tokens with AVA+ Rewards equal to 5% of locked AVA per year;
4. Smart Gold: Maximum Lock-up Cap of 80,000 AVA Tokens with AVA+ Rewards equal to 5% of locked AVA per year;
5. Smart Platinum: Maximum Lock-up Cap of 100,000 AVA Tokens with AVA+ Rewards equal to 5% of locked AVA per year; and
6. Smart Diamond: Maximum Lock-up Cap of 200,000 AVA Tokens with AVA+ Rewards equal to 6% of locked AVA per year and the ability to increase AVA+ Rewards by +0.3% per year per additional connected Travel Tiger NFT (up to 5 extra NFTs). Maximum total AVA+ Rewards with NFT Boost is 7.5% per year.

2.3 AVA+ Rewards Mechanics:

1. Lock-up Duration: Locked AVA Tokens may be unlocked at any time subject to the withdrawal conditions in Clauses 2.3(e) and 2.4 herein.
2. Eligibility: Your eligibility for the Rewards is determined by your membership tier, as detailed in Clause 2.2 above.
3. Rewards Accrual Mechanism: The creditable Rewards accrue on a daily basis and are computed every 24 hours from the time the latest lock-up or any partial withdrawal is initiated. AVA+ Rewards shall be calculated on the locked amount of AVA Tokens only and shall not include Rewards that have accrued for collection. In other words, there shall be no compounding rewards.
4. Claiming your Rewards: The accrued Rewards can be withdrawn instantly at any point. If unclaimed, the Rewards accumulate daily (subject to Clause 2.3(c) above) and can be claimed in full at any time in the future.
5. Withdrawing Locked AVA Tokens: A withdrawal request for any AVA Tokens locked in the AVA+ Rewards perk may be made at any time. In order to ensure that the AVA+ Rewards perk is not manipulated or unfairly exploited by users, withdrawal of AVA Tokens locked in the AVA+ Rewards perk is subject to the following conditions:
  1. Withdrawal wait period – If you choose this option, your locked AVA Tokens will immediately cease to be eligible for any further Rewards accrual. A wait period of 10 days will apply before the unlocked AVA Tokens can be withdrawn.
  2. Immediate withdrawal – If you choose this option, a 2% withdrawal fee will be deducted from the requested AVA Token withdrawal amount. The remaining AVA Tokens will be available for withdrawal immediately upon submitting the withdrawal request. The deducted fee will be sent in AVA Tokens to the AVA Foundation Community Pool wallet.
  3. Withdrawal request cancellation – A withdrawal request made using the wait period option stated in Clause 2.3(e)(i) above is cancellable at any time within the 10-day wait period. After such withdrawal cancellation, the unlocked AVA Tokens will be automatically locked back in the AVA+ Rewards perk, and the Rewards that would have been received during the period that the AVA Tokens were unlocked will be credited.
  4. Withdrawal condition – Only one withdrawal request can be made at any given time, regardless of whether the withdrawal is a regular withdrawal request or as a result of a Membership Tier downgrade (subject to Clause 2.3 (f)(ii) below). To change the AVA Token withdrawal amount, you must choose either of the options outlined in (i), (ii) or (iii) of this Clause 2.3(e) before being able to withdraw a new amount of AVA Tokens.
6. AVA Smart Program Membership Changes:
  1. Upgrading – When you upgrade your AVA Smart Program membership, your AVA+ Rewards parameters are automatically upgraded in accordance with your new AVA Smart Program membership tier:
    Maximum Lock-up Cap: Your Maximum Lock-up Cap will be increased to the corresponding Membership Tier stipulated in Clause 2.2 above.
    Example: if you upgrade from Platinum to Diamond, your individual Maximum Lock-up Cap will automatically increase from 100,000 AVA Tokens to 200,000 AVA Tokens.
    AVA+ Rewards: The new increased AVA+ Rewards corresponding to the Membership Tier stipulated in Clause 2.2 above shall take effect from the day of upgrade (if applicable).
    Example 1: if you upgrade from Platinum to Diamond (with 1 NFT), AVA+ Rewards will automatically increase from 5% to 6% per year from that day on all locked AVA, with the upgraded Rewards claimable 24 hours from the time of the upgrade action.
    Example 2: if you are a Diamond member with 1 NFT in your connected self-custody wallet and add 1 more NFT, the AVA+ Rewards creditable to you will automatically increase from 6% to 6.3% per year on all locked AVA from the day the additional NFT is added to your connected self-custody wallet, with the upgraded Rewards claimable 24 hours from the time of the upgrade action.
  2. Downgrading – When you downgrade your AVA Smart Program membership, the Maximum Lock-up Cap and AVA+ Rewards creditable to you shall be downgraded in the following manner:
    Maximum Lock-up Cap: the new downgraded tier’s parameters will automatically apply. Any locked AVA Tokens that are now above the individual Maximum Lock-up Cap will no longer be eligible for AVA+ Rewards accrual and may be manually unlocked by you subject to the withdrawal terms in Clause 2.3(e) above.
    Example: if you downgrade from Diamond to Platinum, your Maximum Lock-up Cap will automatically decrease from 200,000 AVA Tokens to 100,000 AVA Tokens. If you had 150,000 AVA Tokens initially locked, 50,000 AVA Tokens will become ineligible for AVA+ Rewards accrual. The remaining 100,000 AVA Tokens will continue to be locked to gain the applicable AVA+ Rewards. You may withdraw the 50,000 AVA Tokens above the new Maximum Lock-up Cap at any time (subject to the withdrawal terms in Clause 2.3(e) above).
    AVA+ Rewards: The new downgraded AVA+ Rewards (if applicable) on the eligible locked AVA Tokens will be applied from the day of downgrade.
    Example 1: if you downgrade from Diamond (with 1 NFT) to Platinum, the applicable AVA+ Rewards will be automatically reduced from 6% to 5% per year, with the downgraded Rewards claimable 24 hours from the time of the downgrade action.
    Example 2: if you are a Diamond member with 6 NFTs in your connected self-custody wallet and remove 2 NFTs, the AVA+ Rewards applicable to you will be automatically reduced from 7.5% to 6.9% per year, with the downgraded Rewards claimable 24 hours from the time of the downgrade action.
  3. Deactivation – When you deactivate your eligible AVA Smart Program membership, the Maximum Lock-up Cap and AVA+ Rewards creditable to you shall be deactivated in the following manner:
    Maximum Lock-up Cap: Your Maximum Lock-up Cap will be automatically reduced to zero. You will be able to withdraw the AVA Tokens locked in the AVA+ Rewards perk subject to the withdrawal terms in Clause 2.3(e) above.
    AVA+ Rewards: You will stop accruing any AVA+ Rewards on all locked AVA Tokens when your AVA Smart Program membership is deactivated. Any unclaimed AVA+ Rewards will be automatically transferred to you at the time of the deactivation action.

2.4 You acknowledge that we may, at any time, with or without notice to you, amend the AVA+ Rewards perk, the applicable Maximum Lock-up Caps, the applicable AVA+ Rewards, or any part of the AVA+ Rewards perk, or terminate the AVA+ Rewards perk altogether without assigning any reason thereto.

3. SELF-CUSTODY WALLETS AND SECURITY

3.1 The AVA+ Rewards perk operates via a direct interaction between you and the AVA+ Rewards smart contract on the Ethereum blockchain. To participate, you must connect an Ethereum-compatible self-custody wallet (“Wallet”), such as MetaMask, Base, or one supported by WalletConnect. You acknowledge and agree that we are not the custodians of the AVA Tokens you choose to lock within the AVA+ Rewards perk. You retain absolute control of your Wallet and private keys, and any AVA Tokens you lock up will be held by the smart contract according to these AVA+ Rewards Terms.

3.2 In order to ensure the safety and security of the AVA+ Rewards perk for participating users, you are only allowed to connect one Wallet to the AVA+ Rewards smart contract for the entirety of the AVA+ Rewards perk’s duration. You acknowledge and agree that you will not be able to update or change from a Wallet that is already connected to the AVA+ Rewards perk to another Wallet.

3.3 You are solely responsible for maintaining the confidentiality and security of your Wallet, including, but not limited to, the private keys to your Wallet. You acknowledge that we do not have access to your Wallet or any digital assets or cryptocurrencies stored in it, and therefore, you are fully liable and responsible for all activities that occur in your Wallet and AVA Holdings and its related entities, directors, employees, contractors, its Partners and their related entities or personnel (“Affiliates”) shall bear no liability for any losses or damages.

3.4 We reserve the right to modify, restrict, suspend, or terminate your access to the AVA+ Rewards perk for any reason, including but not limited to security, legal, or regulatory reasons, at our sole discretion.

4. AVA+ REWARDS DISCLAIMERS

4.1 By participating in the AVA+ Rewards perk, you acknowledge, represent and agree that:

1. The AVA+ Rewards perk is part of a loyalty program and is not, and shall not be considered a financial product or service, including a security or collective investment scheme under the laws of the United States, the United Kingdom, the European Union, Singapore, the Cayman Islands, the British Virgin Islands, or Applicable Law; and
2. Your locked AVA Tokens are neither held, controlled nor managed by or on behalf of AVA Holdings or its Partners. Your interaction is solely with the smart contract.
3. Any AVA+ Rewards received are neither generated from the pooling of assets with other participants for investment purposes, nor from the investment of any assets. Instead, AVA+ Rewards comprise of newly minted AVA Tokens, allocated from pre-designated sources like the Community Pool wallet and Ecosystem Growth wallet, in accordance with AVA’s tokenomics as voted by the AVA community. Any AVA Tokens received in connection with AVA+ Rewards are a component of a loyalty program and do not constitute a return on investment. The AVA+ Rewards perk shall not be construed, interpreted, classified or treated as enabling, or according to any opportunity for you to participate in, or receive profits, income, or other payments or returns arising from the efforts of AVA Holdings, its Partners, or any third parties.

4.2 To the fullest extent permitted by Applicable Law, you agree that AVA Holdings and its Affiliates will not be liable for any claims, losses, damages or liabilities, including but not limited to the loss of any AVA Tokens or other digital assets or cryptocurrencies stored in your Wallet.

4.3 To the fullest extent permitted by Applicable Law, you agree that AVA Holdings and its Affiliates will not be liable for any claims, losses, damages or liabilities, including but not limited to the loss of any AVA Tokens or other digital assets or cryptocurrencies stored in your Wallet.

4.4 Receiving AVA+ Rewards bonuses derived from the AVA+ Rewards perk may give rise to tax consequences, whether in the jurisdiction of your residence or otherwise. It is your sole responsibility to determine whether any taxes apply to your receipt of AVA Tokens in connection with your participation in the AVA+ Rewards perk, and to withhold, collect, report, and remit the correct amount(s) of taxes to the tax authorities that you are subject to under Applicable Law. We will not determine whether taxes apply to you, nor will we withhold, collect, calculate, report, or remit any taxes on your behalf. If you are unsure of your tax obligations as a result of your participation in the AVA+ Rewards perk, please consult with a professional tax advisor.

5. RISKS ASSOCIATED WITH AVA+ REWARDS PARTICIPATION

5.1 By participating in the AVA+ Rewards perk, you acknowledge and accept that you are assuming inherent and significant risks. You agree that AVA Holdings and its Affiliates shall not be liable for any losses or damages arising from these risks. These risks include, but may not be limited to:

1. Software bugs, smart contract vulnerabilities, advancements in quantum computing, changes to or failures of the underlying blockchain, and other technical issues that could result in the partial or total loss of the digital assets or cryptocurrencies in your Wallet;
2. The risk of loss due to the digital nature of the assets, including malware, hacking of your self-custody Wallet, or other third-party security breaches;
3. The extreme price volatility of digital assets and cryptocurrencies, which could result in a significant or total loss of value;
4. The nascent and rapidly developing nature of digital asset and cryptocurrency regulation, which may change without notice and could impede or limit your ability to access or use your digital assets or cryptocurrencies; and/or
5. Events beyond our control that could impede or limit your ability to use or access the AVA+ Rewards perk.

5.2 You acknowledge and accept that the AVA+ Rewards perk, AVA Tokens and other digital assets or cryptocurrencies are not protected by any government-backed depositor compensation, insurance, or guarantee scheme.

5.3 We may provide historical and/or real-time data, graphs, or charts in relation to the AVA+ Rewards perk. These are provided as reference materials only and on an “as-is” basis. We make no representations and disclaim all warranties, express or implied, as to the accuracy, completeness, quality, or usefulness of such data, and in providing these materials or any other relevant information, we do not provide promises, estimates, or forecasts with regard to the future price of the AVA Token or any other Digital Assets.

5.4 Any content contained on Sites in connection with the AVA+ Rewards perk shall not be interpreted as investment, financial or legal advice and shall not be considered a substitute for professional advice. There is no fiduciary relationship that exists between you and AVA Holdings or its Affiliates. AVA Holdings and its Affiliates are not investment advisors. You are solely responsible for your decisions, and we strongly recommend you consult with qualified professionals before making any financial, legal, or tax decisions.

6. RIGHTS WE RESERVE

6.1 We reserve the right to suspend, restrict or terminate your access to the AVA+ Rewards perk, including by implementing technical controls such as geofencing or IP address blocking to enforce jurisdictional restrictions, without limitation:

1. Where Applicable Law, any competent court, or any other regulatory body or authority requires us to, or we believe requires us to;
2. Where you or your Account is subject to any legal process or investigation, is implicated in any pending, threatened, or actual litigation, or is otherwise involved in any governmental or regulatory inquiry;
3. Where we reasonably believe that you may be in breach of these Terms, such as by opening multiple Accounts or abusing or exploiting any aspect of the AVA+ Rewards perk;
4. Where we reasonably form the belief that your Account or Wallet has been compromised or that any part of the Services are being used in a fraudulent or unauthorised manner by whether by you or someone else; or
5. Where we reasonably form the belief or suspicion that you (or your Account or Wallet) are sanctioned under Applicable Laws, or the Account or Wallet is being used for illicit activities such as money laundering, terrorist financing, fraud, or is in breach of Clause 2.1(d). We further reserve the right to screen your Wallet or Account’s interactions or transactions using third-party screening tools at any time in order to ensure compliance with Applicable Laws and the foregoing rights we reserve.

7. INCORPORATION OF AVA SMART PROGRAM TERMS

7.1 All AVA Smart Program Terms, particularly Clauses 5 to 10 of the AVA Smart Program Terms and Conditions, which include, and is not limited to terms on limitation of liability, indemnification, disclaimers, force majeure, governing law and dispute resolution venue, shall be incorporated by reference and apply to these AVA+ Rewards Terms in so far as they can be interpreted to be applicable to the AVA+ Rewards perk. AVA+ Rewards shall be interpreted and considered a Service under the AVA Smart Program Terms subject to the stipulations set out in Clause 1.3 above in the event of conflict or inconsistency.

8. CLASS ACTION/REPRESENTATIVE ACTION WAIVER

8.1 You agree that any dispute or claim arising from these Terms must be brought on an individual basis only, and not as a plaintiff or class member in any purported class, collective, representative, or private attorney general action. You waive any right for such disputes to be brought, heard, or resolved as a class action, to the fullest extent permissible by Applicable Law. The combining or consolidating of individual claims into a single proceeding is not permitted without our consent. If any part of this class action waiver is deemed invalid or unenforceable, the remaining portions of this clause will remain in full force and effect.

INDEPENDENT SMART CONTRACT AUDITS