One of the key items included in the <a href="https://www.travala.com/governance/proposals/proposal-3-ava-2-0-proposal" rel="noopener noreferrer nofollow">AVA 2.0 Proposal</a> which the community has been looking forward to following the proposal outcome is the new AVA Smart Bonus as part of the revamped <a href="https://www.travala.com/smart" rel="noopener noreferrer nofollow">Smart Program</a>.The AVA Smart Bonus will provide the opportunity for Smart members to receive AVA bonuses for participating in the AVA ecosystem by completing Contributor Tasks OR spending AVA on the Travala.com platform.In this article, we’ll take an in-depth look at what the AVA Smart Bonus aims to achieve within the AVA ecosystem and the initial mechanics of the new AVA Smart Bonus in its v.1 stage, with further iterations to follow in the future.<h2 id="header-0">Introduction</h2>The AVA Smart Bonus aims to increase the demand for the Smart Program, grow the utility of the AVA token, and expand the overall visibility of the AVA ecosystem by rewarding members for helping further the AVA ecosystem through participating in AVA ecosystem channels and increasing the overall number of AVA transactions.The AVA Smart Bonus is offered exclusively to members of the Smart Program, a travel loyalty program of which AVA is the rewards token. In v.1 of the AVA Smart Bonus, all Smart members will have the opportunity to receive the AVA Smart Bonus by completing ONE of the following activities:<ol><li>Complete the specified Contributor Tasks at the beginning of the following quarter; OR</li><li>Spend a minimum of US$50 worth of AVA on Travala.com within the quarter.</li></ol>Contributor Tasks will aim to increase the awareness of both the AVA ecosystem and the utility of the AVA token. Contributor Tasks will be conducted via the Gleam platform and may include participating in community channels, creating social media posts, and a range of other online activities.This is v.1 of the AVA Smart Bonus and one part of the revamped Smart Program. Iterations and improvements will be made in the following quarters, with members being able to lock up more AVA and receive greater amounts of AVA bonuses from Q1 2024 based on their membership level. As a small piece of the overall AVA 2.0 project, more initiatives are on the way to continue growing the AVA ecosystem, as outlined in the <a href="https://www.travala.com/governance/proposals/proposal-3-ava-2-0-proposal" rel="noopener noreferrer nofollow">AVA 2.0 Proposal</a>. We’re excited to introduce this new addition for the community and continue building on it in future versions.Read on for more detailed information about the AVA Smart Bonus mechanics.<h2 id="header-1">V.1 AVA Smart Bonus Amounts</h2>In v.1 of the AVA Smart Bonus, all Smart members from the Basic tier to the Diamond tier will be eligible to receive the AVA Smart Bonus each quarter. The AVA Smart Bonus amount will be rewarded in AVA based on the amount of AVA locked up and will initially be equal to:<ul><li>12% per year for Diamond members</li><li>8% per year for Platinum members</li><li>7% per year for Gold members</li><li>6% per year for Silver members</li><li>5% per year for Bronze members</li><li>5% per year for Steel members</li><li>5% per year for Basic Members</li></ul>To illustrate, the first quarterly AVA Smart Bonus for the top three tiers would be equal to:<ul><li>2,500 AVA x 12% x 0.25 &#61; 75 AVA Smart Bonus for Diamond members</li><li>2,500 AVA x 8% x 0.25 &#61; 50 AVA Smart Bonus for Platinum members</li><li>2,000 AVA x 7% x 0.25 &#61; 35 AVA Smart Bonus for Gold members</li></ul>Based on the learnings from v.1, the AVA Smart Bonus amount for each membership tier will be evaluated every quarter, along with the qualification requirements below.<h2 id="header-2">Qualification Requirements</h2>To be eligible to receive the AVA Smart Bonus, you’ll need to be a Smart member by the final day of each quarter until you claim your AVA Smart Bonus at the beginning of each quarter.You’ll also need to complete ONE of the following activities each quarter that help grow the AVA ecosystem and promote the payments utility of AVA in order to receive the AVA Smart Bonus:<ol><li>Complete the specified Contributor Tasks at the beginning of the following quarter; OR</li><li>Spend a minimum of US$50 worth of AVA on Travala.com within the quarter.</li></ol>To participate in the first round, you’ll need to be a Smart member by 31 December 2023 11:59 PM UTC and complete one of the above activities, explained in more detail below.<h3 id="contributor-tasks">Contributor Tasks</h3>The goal of Contributor Tasks is to increase the awareness of both the AVA ecosystem and the utility of the AVA token. If you choose to complete Contributor Tasks, this may include participating in community channels, creating social media posts, and a range of other online activities that will be accessible via Gleam.Contributor Tasks will go live at the beginning of each new quarter. For the first round, Contributor Tasks will be available to complete for 2 weeks in January 2024 (the exact claim period window will be announced closer to the date).<h3 id="ava-minimum-spend">AVA Minimum Spend</h3>If you choose to complete the AVA minimum spend requirement, any product available to purchase with AVA on Travala.com will contribute to this requirement, including completed travel bookings (inclusive of flights, hotels and activities), Travel Credit purchases, or Travel Gift Card purchases.NOTE: any travel bookings that are refunded or not yet completed by the end of the applicable quarter will NOT count towards the AVA minimum spend requirement for that quarter. Please see the FAQs for more information.For the first round of the AVA Smart Bonus that will be claimable in January 2024, the applicable period for the AVA minimum spend requirement will be 1 October 2023 at 12:00 AM UTC–31 December 2023 at 11:59 PM UTC.<h2 id="header-3">AVA Smart Bonus vs Ambassador Bonus</h2>The Contributor Tasks for the AVA Smart Bonus will be merged with the existing Ambassador Bonus Marketing Tasks that are open exclusively to Diamond members. From January 2024, the “Ambassador Bonus Marketing Tasks” will be renamed to “Contributor Tasks”.Diamond members will therefore only need to complete one set of Contributor Tasks to receive their Ambassador Bonus Travel Credit rewards and AVA Smart Bonus. For clarity, the Ambassador Bonus will continue to be offered exclusively to Diamond members only.<h2 id="header-4">Join Now</h2>To participate in the first round of the AVA Smart Bonus v.1 and receive the AVA Smart Bonus, ensure that you have an active <a href="https://www.travala.com/smart" rel="noopener noreferrer nofollow">Smart membership</a> by 31 December 2023 at 11:59 PM UTC and complete either the Contributor Tasks launching in January 2024 OR meet the AVA minimum spend requirement between 1 October 2023 at 12:00 AM UTC–31 December 2023 at 11:59 PM UTC.Remember that, for the first round, your membership must remain active until January 2024 when the AVA Smart Bonus claim period goes live. The exact claim period window will be announced closer to the date, alongside the release of the Contributor Tasks.The AVA Foundation is thrilled to be introducing the AVA Smart Bonus v.1 to the community and will continue to iterate this initiative in the future based on community feedback.<h2 id="header-5">FAQs</h2><h3 id="general">General</h3>How often will the AVA Smart Bonus be conducted?The AVA Smart Bonus v.1 is currently scheduled to be conducted every quarter. Therefore, there will be four opportunities to receive the AVA Smart Bonus per year.Will I have to manually claim the AVA Smart Bonus?Yes. As with the existing Ambassador Bonus for Diamond members, there will be a claim period of 2 weeks following the close of the Contributor Tasks where you will have to manually claim your AVA Smart Bonus in your Travala.com account.The AVA Smart Bonus will be claimable at the same time regardless of whether you choose to complete the Contributor Tasks or AVA minimum spend requirement. The AVA Smart Bonus and the Ambassador Bonus for Diamond members will coincide and be claimable at the same time.Is the AVA Smart Bonus subject to change?As with all crypto ecosystems, the technology and regulatory landscape is rapidly evolving. The AVA Smart Bonus amount and qualification requirements will therefore be periodically evaluated to ensure that the initiative remains sustainable and effective in its objective to increase the number of participants and activity within the AVA ecosystem while providing the best possible outcome for the community.<h3 id="qualification-requirements">Qualification Requirements</h3>What do I have to do to receive the AVA Smart Bonus?In order to be eligible to receive the AVA Smart Bonus, you must be a Smart member by the final day of each quarter at 11:59 PM UTC and complete ONE of the following activities:<ol><li>Complete the specified Contributor Tasks at the beginning of the following quarter; OR</li><li>Spend a minimum of US$50 worth of AVA on Travala.com within the quarter.</li></ol>What will the Contributor Tasks be?The goal of Contributor Tasks is to increase the awareness of both the AVA ecosystem and the utility of the AVA token. Contributor Tasks may include participating in community channels, creating social media posts, and a range of other online activities. The first round of tasks will be announced in January 2024 and will be available to complete via Gleam.How long will the Contributor Tasks be open?In v.1 of the AVA Smart Bonus, Contributor Tasks will be open for a period of 2 weeks at the beginning of each quarter.What counts towards the AVA minimum spend requirement?Any product available to purchase with AVA on Travala.com will contribute to the AVA minimum spend requirement, including completed travel bookings (inclusive of flights, hotels and activities), <a href="https://www.travala.com/travel-credits" rel="noopener noreferrer nofollow">Travel Credit</a> purchases, or <a href="https://www.travala.com/gift-cards" rel="noopener noreferrer nofollow">Travel Gift Card</a> purchases.What if I book travel with AVA on Travala.com that I haven’t completed yet?Any travel bookings that have not been completed by the end of the quarter will NOT count towards the AVA minimum spend requirement for that quarter.For example, if a return flight is booked with AVA on Travala.com that departs on 21 December 2023 and returns on 3 January 2024, this booking will NOT count towards the first round of the AVA Smart bonus, as only bookings that are completed from 1 October–31 December 2023 contribute to the requirement in the first round. However, this booking will count towards the second round of the AVA Smart Bonus, for which the applicable period will be 1 January–31 March 2024.Do I have to redeem Travel Credits or Gift Cards in the same quarter that they’re purchased?No. Any purchase of Travel Credits or Gift Cards on Travala.com equal to or above US$50 during a quarter will qualify for the AVA minimum spend requirement, regardless of when they are redeemed. Note that purchased Travel Credits and Gift Cards have no expiration date.What if a booking I purchased with AVA on Travala.com is refunded?Bookings made with AVA on Travala.com that are refunded will NOT count towards the AVA minimum spend requirement, regardless of whether they were voluntarily or involuntarily cancelled.Does spending other cryptocurrencies on Travala.com apart from AVA count towards the AVA minimum spend requirement?No. Only AVA purchases on Travala.com count towards the completion of this requirement. This is to promote the payments utility of AVA within the AVA ecosystem.<h3 id="membership-upgrades-downgrades">Membership Upgrades &amp; Downgrades</h3>What happens if I upgrade, downgrade or deactivate my membership during a quarter?If you join the Smart Program, upgrade to a higher membership tier, or downgrade to a lower membership tier, you’ll be eligible to receive the AVA Smart Bonus for the membership tier that you held on the final day of the quarter at 11:59 PM UTC.If you deactivate your Smart membership before claiming the AVA Smart Bonus, you will not be eligible to receive the AVA Smart Bonus.What happens if I disconnect my wallet with my Travel Tiger NFT or move it to another wallet?As long as your membership status is Smart Diamond on the final day of the quarter at 11:59 PM UTC, disconnecting your wallet and being temporarily downgraded to the Platinum tier throughout the quarter will not affect the AVA Smart Bonus amount that you can receive. You’ll still be eligible to receive the AVA Smart Bonus for Diamond members.LegalThis announcement and the AVA Smart Bonus v.1 program will be subject to the <a href="https://www.travala.com/smart-terms" rel="noopener noreferrer nofollow">Smart Program Terms and Conditions</a>.About AVA FoundationThe 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.

AVA Smart Bonus v.1

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