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Binance, one of many world’s main cryptocurrency exchanges, introduced the completion of the contract swap and rebranding of Travala.com’s native token, AVA. The rebranding and contract swap transition the token from its earlier BEP2 and BEP20 requirements to the Ethereum ERC20 community.
Key Particulars
New Sensible Contract Tackle: The brand new AVA (ERC20) token will function beneath the good contract tackle 0xa6C0c097741D55ECd9a3A7DeF3A8253fD022ceB9.
Deposits and Withdrawals: Binance has opened the gates for deposits and withdrawals of the brand new AVA (ERC20) tokens as of September 5, 2023, 12:00 PM.
Previous Tokens Renamed: The outdated BEP2 and BEP20 AVA tokens have been renamed to AVAOLD and can proceed to be listed beneath this ticker on Binance.
Token Swap: Customers holding the outdated AVA tokens, now termed as AVAOLD, can swap these for the brand new AVA (ERC20) tokens at a 1:1 ratio utilizing the convert operate on Binance. Nonetheless, withdrawals of AVAOLD tokens won’t be supported going ahead.
Implications for Customers
For customers, the transition means they might want to deposit their outdated AVA tokens, now termed AVAOLD, and use the convert operate on Binance to swap these for the brand new ERC20-based AVA tokens. The swap is facilitated at a 1:1 ratio, guaranteeing no lack of worth for the token holders.
Context and Significance
The transfer to the Ethereum ERC20 normal might probably supply AVA token better interoperability and a broader ecosystem for decentralized purposes (dApps). Ethereum’s community is among the most sturdy and widely-adopted platforms for good contracts, which might present AVA with elevated utility and adoption charges.
Official Assertion
Of their official launch, Binance said, “Binance has accomplished the Travala.com (AVA) contract swap and rebranding plan to AVA (AVA) on Ethereum (ERC20) community. Deposits and withdrawals for the brand new AVA (ERC20) tokens at the moment are open.”
Conclusion
The contract swap and rebranding of Travala.com’s AVA token to the Ethereum ERC20 normal mark a major milestone within the token’s lifecycle. With the transition full, customers are suggested to swap their outdated tokens for the brand new ERC20-based AVA tokens to proceed collaborating within the ecosystem.
Picture supply: Shutterstock
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