Smart Diamond members now have the option to lock an extra 2,500 AVA for each additional Travel Tiger NFT connected to their Travala.com account, enabling Diamond members with multiple Travel Tiger NFTs to receive the AVA Smart Bonus of 20% per year on an increased amount of locked AVA.
Lock up AVA on the AVA Smart Program page on Travala.com
The feature allows extra AVA to be locked in multiples of 2,500 AVA per Travel Tiger NFT in the connected wallet. There is no limit on how many NFTs can be connected and therefore no limit on the amount of AVA that can be locked. Just as with a Smart membership activation, a 30-day minimum AVA lock-up period applies before the AVA can be unlocked.
For example, four Travel Tiger NFTs in the connected wallet would enable up to 7,500 extra AVA tokens to be locked (in addition to the existing 2,500 AVA already locked to activate the Smart Diamond membership) for a total of 10,000 locked AVA. This would attract an AVA Smart Bonus of 2,000 AVA per year (10,000 AVA x 20%), provided the requirements are met each quarter.
The requirements to claim the AVA Smart Bonus remain the same regardless of how much AVA is locked, i.e.:
- Complete the specified Contributor Tasks at the beginning of the following quarter; OR
- Spend a minimum of US$50 worth of AVA on Travala.com within the quarter.
See this article for more information about the AVA Smart Bonus requirements.
Diamond members have the option to choose how much AVA they would like to lock in multiples of 2,500 AVA based on the number of Travel Tiger NFTs they hold. Continuing on from the example above, a member with four Travel Tiger NFTs could choose whether to lock an extra 2,500 AVA, 5,000 AVA, or 7,500 AVA.
Depending on your locked AVA amount, any Travel Tiger NFTs transferred out of your connected wallet may result in AVA tokens being automatically unlocked to your wallet in your Travala.com account. If the member in the example above with four Travel Tiger NFTs had opted to lock an extra 7,500 AVA and decided to transfer an NFT, 2,500 AVA would be automatically unlocked. However, if the member only locked an extra 5,000 AVA and transferred an NFT, no AVA would be unlocked, as they would still have three NFTs which allows them to have 2,500 AVA locked for the Diamond membership PLUS 5,000 AVA (2,500 AVA for each of the additional two NFTs).
About AVA Foundation
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.
