Travala has announced its NEP-5 to BEP-2 token swap is now available for AVA token holders. Token holders have the choice of three options to conduct the token swap at a 1:1 ratio, each of which varies in length of time the window is open.
In September 2019, Travala announced its plans to migrate to the Binance Chain. In a Medium post published by the company, Travala stated the move was part of its “determination to improve the token economics of its native token (AVA) while offering faster processing times, better performance, and ease of on-chain use of AVA within the platform.”
In an AMA the following week, a Travala representative stated, “there will be a very long runway” to swap NEP-5 AVA for the BEP2 token standard. Any NEP-5 AVA that is not swapped “within the defined timeline” will be burned if users do not migrate.
Three token swap options
The first option, swap.travala.com, is currently live and is managed by Travala’s swap partner, ChangeNOW.io. Token holders will be able to utilize this service for six months, concluding on June 10th, 2020.
Second, any tokens held on the Travala.com platform will automatically swap to the BEP-2 standard. Travala will offer this service for 12 months, concluding on December 10th, 2020.
Third, KuCoin will support the token swap and automatically convert tokens from NEP-5 to BEP-2. To prepare for this service, KuCoin will temporarily suspend deposit and withdrawal services at 4:00 pm (UTC +8) on December 20th, 2019.
Should AVA token holders have any questions about the token swap process, they can contact email@example.com.
Following its migration to the Binance Chain, AVA will apply to list on the Binance DEX.
The full announcement can be found at the link below: