Early access to AVA+ Rewards will open for Smart Diamond members on Wednesday 4 February at 7:00AM UTC!
The latest addition to the growing list of AVA Smart Program perks, AVA+ Rewards enables members to receive up to 7.5% per year in AVA rewards on up to 200,000 AVA locked via their self-custody wallets.
As a self-custody feature, AVA+ Rewards is powered by a smart contract that grants the applicable rewards to members based on their Smart membership tier.
Smart Diamond members can receive AVA+ Rewards equivalent to 6% per year on up to 200,000 AVA, with the ability to boost up to a total of 7.5% per year by receiving an additional 0.3% per connected NFT (up to 5 additional NFTs).
Following the full release, Smart Steel to Platinum members will be able to receive AVA+ Rewards equivalent to 5% of their locked AVA per year with lock-up caps based on their Smart membership tier.
How to Access AVA+ Rewards
- Visit the AVA Smart Program section of your Travala account and click AVA+ Rewards
- Input the self-custody ERC20 wallet address you will use for AVA+ Rewards and click ‘Submit’ (IMPORTANT: this address cannot be changed once entered. It does NOT have to be the same wallet address that contains your connected Travel Tiger NFT(s))
- Click ‘Connect Wallet’ in the pop-up to go to the AVA+ Rewards page on the AVA Foundation website
- Connect your self-custody wallet for verification (MetaMask, WalletConnect or Base Wallet)
- Enter the amount of AVA you would like to lock
- Sign the transaction in your wallet
- Claim your AVA+ Rewards at any time, up to once per day
Withdrawals
Members have two options to withdraw AVA:
- 10-day Withdrawal (No Fee)
- Immediate Withdrawal (2% Fee)
10-day Withdrawal (No Fee)
Members will be able to submit a withdrawal request with a 10-day waiting period and manually complete the withdrawal after 10 days has elapsed with no fees. Members can also opt to cancel their withdrawal during the 10 days (and even after the 10 days has elapsed) for free and, by doing so, can claim the AVA+ Rewards they would have ordinarily received had they not submitted a withdrawal request. When a withdrawal request is cancelled, AVA will automatically be locked back up to continue receiving ongoing AVA+ Rewards.
For example, if a Smart Diamond member submitted a withdrawal request for 50,000 AVA and after 5 days changed their mind and cancelled the withdrawal request, they would immediately claim approximately 41 AVA upon cancelling their withdrawal (50,000 AVA x 6% x 5/365).
Immediate Withdrawal (2% Fee)
Alternatively, members can immediately withdraw their locked AVA for a 2% fee. The fee will be deducted from the withdrawal amount and contributed in full to the Community Pool.
For example, if a Smart Diamond member has 50,000 AVA locked and opts to immediately withdraw 10,000 AVA, the 2% fee (in this case 200 AVA) will be sent to the Community Pool and the member will immediately receive 9,800 AVA to their wallet.
IMPORTANT: Any AVA+ Rewards received are NOT subject to withdrawal conditions and can be claimed daily. AVA+ Rewards will accumulate over time if unclaimed; no additional benefit will be provided for claiming frequently. AVA+ Rewards do not compound.
FAQs
What network are AVA+ Rewards on?
The AVA+ Rewards perk is available on the Ethereum network.
Which wallets are supported?
Supported wallets/clients include MetaMask, WalletConnect, and Base Wallet. Each wallet address must not currently be in use by another Smart member account for AVA+ Rewards.
Can I update my wallet address?
For security reasons, you will be unable to edit your wallet address for AVA+ Rewards once it is confirmed. Only one wallet address can be associated with each Travala account. During the setup process, please ensure that you carefully submit a wallet address that you will have ongoing access to.
As a Diamond member, do I have to connect the same wallet where my NFT is stored?
No, any supported ERC20 wallet can be connected, regardless of which wallet address contains your connected Travel Tiger NFT(s) for your Smart Diamond membership.
Do I need to be a Smart member to join AVA+ Rewards?
Yes. The AVA+ Rewards perk will be available to Smart Steel-Diamond members, starting with early access for Diamond members first. To activate your membership, visit https://www.travala.com/smart.
How are AVA+ Rewards calculated?
AVA+ Rewards are calculated daily on the locked amount of AVA. For example, if you are a Diamond member and lock up 100,000 AVA, you will have a reward rate of 6% per year and receive approximately 16.4 AVA every 24 hours. If you lock more AVA or withdraw AVA, the 24-hour timer will reset.
How do I claim my AVA+ Rewards?
AVA+ Rewards are claimable on the AVA+ Rewards page by clicking the ‘Claim Now’ button.
How often can I claim my AVA+ Rewards?
Your AVA+ Rewards can be claimed up to a maximum of once per day. Rewards accumulate without the need to claim at specific times, so whether you choose to claim daily, monthly, or yearly is entirely up to you.
Do AVA+ Rewards compound?
No. The reward rate is offered on the AVA amount that is locked up, excluding any accumulated rewards. For example, if you are a Diamond member and have 100,000 AVA locked for AVA+ Rewards, your rewards will be calculated on 100,000 AVA only, regardless of how many AVA+ Rewards you receive or how often you claim your AVA+ Rewards.
Does the AVA locked in my Smart membership contribute to AVA+ Rewards?
No. The AVA used to activate your Smart membership is excluded from receiving AVA+ Rewards. Only the AVA that you lock specifically for AVA+ Rewards via your connected wallet is eligible to receive AVA+ Rewards.
Can I lock up more AVA in AVA+ Rewards after my initial lock?
Yes, provided that both your individual maximum lock-up cap corresponding to your Smart tier and the Maximum Overall Cap for the perk have not been exceeded.
What is the Maximum Overall Cap?
The Maximum Overall Cap is the maximum amount of AVA that can be locked in AVA+ Rewards by all participating members at any given time. The initial Maximum Overall Cap will be set at 5,000,000 AVA.
How do I withdraw my AVA from AVA+ Rewards?
AVA can be withdrawn in two ways:
- 1. 10-DAY WITHDRAWAL (NO FEE): Submit a withdrawal request with a 10-day wait time and no fee. The amount of AVA submitted in the withdrawal request will immediately cease receiving AVA+ Rewards, and you will have to confirm the withdrawal after 10 days. Any unclaimed AVA+ Rewards will be immediately sent to your wallet automatically.
- 2. IMMEDIATE WITHDRAWAL (2% FEE): A 2% fee from the requested AVA withdrawal amount will be deducted immediately upon submitting the withdrawal request. This fee will be sent in AVA to the Community Pool wallet to support the AVA ecosystem. Any unclaimed AVA+ Rewards will be immediately sent to your wallet automatically.
You also have the option to cancel your withdrawal request for free at any time within the 10-day wait period (and even after the 10-day wait period) and receive the AVA+ Rewards you would have ordinarily received during this period. When a withdrawal request is cancelled, AVA will automatically be locked back up to continue receiving ongoing AVA+ Rewards.
NOTE: Only 1 withdrawal request can be pending at any given time. If you would like to change the withdrawal amount, you must complete one of the three actions above before being able to withdraw a new amount.
What if I change my Smart membership while I have AVA locked in AVA+ Rewards?
Membership changes affecting the AVA+ Rewards perk are updated automatically in real time. If you upgrade, downgrade, or deactivate your Smart membership, the benefits will be updated corresponding to your new membership from the moment the action is made.
Upgrades: Upgrading your Smart membership immediately grants you an increased AVA maximum lock-up cap. Any unclaimed AVA+ Rewards will automatically be transferred to your connected wallet. If you’re upgrading to Smart Diamond (or adding extra Travel Tiger NFTs to your connected wallet), your AVA+ Rewards rate will also be increased accordingly on any locked AVA from the day of the upgrade.
Downgrades: Downgrading your Smart membership will decrease the maximum amount of AVA you can lock up and will reduce your AVA+ Rewards rate if downgrading from Smart Diamond (or disconnecting any Travel Tiger NFTs). Any AVA that you have locked in AVA+ Rewards will automatically continue to be locked and will receive AVA+ Rewards unless withdrawn by you. Any unclaimed AVA+ Rewards will automatically be transferred to your connected wallet. If you have AVA locked that is now above your maximum lock-up cap, no AVA+ Rewards will be received on the excess amount from the day of the downgrade, and you may choose to manually withdraw the excess amount of AVA from AVA+ Rewards by selecting the 10-day withdrawal option with no fees or immediate withdrawal with a 2% fee.
Deactivation: Deactivating your Smart membership will immediately cease your participation in AVA+ Rewards. Any unclaimed AVA+ Rewards will automatically be transferred to your connected wallet, and you must manually withdraw your AVA from AVA+ Rewards by selecting the 10-day withdrawal option with no fees or immediate withdrawal with a 2% fee to return it to your wallet.
How is AVA+ Rewards funded?
AVA+ Rewards is funded 80% by the Community Pool and 20% by the Ecosystem Incentives Wallet. Learn more about these wallets
Note: the information and designs contained in this article are subject to change and may differ from the final product, and will be subject to the final terms and conditions.
When will AVA+ Rewards open to other Smart members?
A launch date will be determined and announced to Smart Steel-Platinum members following the feedback and early results from Diamond members.
