Travala: the migration to Binance Chain has begun
Travala: the migration to Binance Chain has begun
Blockchain

Travala: the migration to Binance Chain has begun

By Alfredo de Candia - 12 Dec 2019

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A few minutes ago Travala announced the start of the migration of their AVA tokens to the Binance blockchain.

As is well known, the Travala ecosystem was originally based on the NEO blockchain with its AVA token (based on the Nep5 standard) but last September the company announced that it would use the new Binance Chain and consequently would have to migrate the tokens. The AVA tokens, in fact, will switch from the old Nep5 standard of NEO to the new one of Binance, the Bep2 standard.

The token swap will be possible through 3 different options:

  • Via ChangeNOW, a partner of Travala: the procedure will allow to convert the tokens with a rate of 1 to 1 for 6 months, until June 10th, 2020. Moreover, the KYC (Know Your Customer) procedure must be carried out and the whole procedure is not available to US citizens; 
  • The second alternative is to leave them on the Travala platform and they will be swapped automatically until December 10th of next year; 
  • Finally, it is also possible to deposit AVA on the KuCoin exchange. In this case, the conversion will start on December 20th.

Just yesterday, Travala announced a partnership with Gemini, to bring their stablecoin within the Travala platform and use it as a method of payment.

This stablecoin is also the first of its kind to land on Travala, as also recalled by the CEO and founder of Travala, Matthew Luczynski:

“We are honoured to be announcing this collaboration with Gemini and to have GUSD become our first major stablecoin. Together with Gemini, we will drive further adoption of cryptocurrencies.”

Considering that this is a stablecoin, its price will be a factor of guarantee, since it is not subject to strong volatility as the other cryptocurrencies, a notion also reiterated by Michael Breu, CSO of Gemini:

“We’re excited that Travala.com has added Gemini dollar as a payment option on their platform. Gemini dollar allows Travala’s global users to pay in crypto that is backed by the price stability and creditworthiness of the US dollar.”

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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