Friday, 9th October 2020 – Travala.com’s native AVA token is the latest cryptocurrency to join Binance Smart Chain (BSC) after launching on the BSC mainnet today. BSC, which runs parallel to Binance Chain, introduces smart contract functionality that presents opportunities to significantly expand the use cases for AVA.
The AVA token was originally migrated to Binance Chain’s BEP-2 protocol in late 2019 to take advantage of Binance’s world-class architecture—including leading security and trading technology—while remaining simple to use.
Now, the AVA token will join BSC on the new BEP-20 protocol, alongside the existing BEP-2 AVA token on Binance Chain. The two blockchains will operate side by side, with Binance Chain providing its renown, rapid trading system and BSC enabling the use of decentralised features.
The total supply of AVA tokens on BSC will match that of Binance Chain, allowing users to seamlessly swap their BEP-2 AVA tokens for BEP-20 AVA tokens and vice versa depending on their needs (i.e. Binance Chain for trading or BSC for using decentralised features).
To initiate these cross-chain transfers, the Binance Chain Wallet can be used, which provides the capability for funds to be sent, received, and swapped on both Binance Chain and BSC. For more information on how to set up and use the wallet, please see this guide.
By deploying the AVA token on BSC, Travala.com is now on its way towards building one of the next key iterations outlined in their whitepaper: a decentralised travel ecosystem that comprises decentralised accommodation bookings, salesforces, reviews, referrals, and governance, among other developments towards building the next world’s Web 3.0 Online Travel Agency (OTA).
Founded in 2017, Travala.com is the leading cryptocurrency-friendly travel booking service with 2,200,000+ hotels and homes in 230 countries and 600 airlines globally. Backed by industry-giant Binance, Travala.com is a champion of cryptocurrency adoption, accepting over 30 leading cryptocurrencies in addition to traditional payment methods. The Travala.com value proposition is bolstered by AVA. As the native cryptocurrency of the platform, AVA can be used for payments, receiving loyalty rewards, discounts and bonuses, among several other use cases. For more information, visit www.travala.com.
About Binance Smart Chain
Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. Designed to run in parallel with Binance Chain, Binance Smart Chain retains the former’s fast execution times and low transaction fees while adding Smart Contracts functionality to support compatible dApps. For more information on Binance Smart Chain, visit www.binance.org/#smartChain.