Dear Travala.com Community Members,
We hope you’re all keeping well during these difficult market conditions.
As many of you will remember from the previous bear market, this cycle is an inevitable and necessary part of a healthy market that helps reveal the genuine projects that are sustainable in the long run.
Travala.com has already survived one bear market, which is a significant advantage going into our second. Our learnings from that period will allow us to better navigate this challenge and come out even stronger on the other side. To ensure we continue to thrive, certain areas of the business require adjustment, and as cryptocurrencies, blockchain technology and the regulatory landscape evolve, so too must Travala.com.
One of these areas is the Community Pool. The long-term effectiveness of the program in the current market conditions has been evaluated, and we have determined that some of the resources being used each month for the community pool can be more efficiently utilised in other areas, such as reinvesting them back into the business to grow the user base, increase revenues and improve Smart Program offerings, all of which will ultimately serve to continue expanding the Travala.com and AVA ecosystems.
Therefore, we have made the decision to discontinue the addition of funds from booking revenues to the Community Pool from July 2022. Contributions to the Community Pool from secondary market sales of Travel Tiger NFTs will remain.
New and exciting use cases are being worked on and will be introduced in the near future to continue to increase the utility of AVA. As always, we’ll keep building and improving our core products to ensure the best outcome for our community.
Travala.com is now a growth-stage business that has tackled exceptional adversity head-on. Despite the almost three-year crypto winter between 2018–2020 and all the uncertainty in the travel industry during the Covid-19 pandemic, we broke record after record, month after month, in terms of revenue, bookings and active users.
Since the Travala.com journey began 5 years ago, we’ve always put long-term sustainability first and foremost and will continue to do so. We’re proud to be the world’s leading crypto-friendly travel booking platform and have many innovative strategies in the pipeline that will enhance the travel booking experience for our growing community.
Despite the downturn in market conditions, we’re continuing to hire, we’re growing and building at full speed, we’re developing cutting-edge initiatives and we’re investing heavily in advertising and branding — all of which will set us up for the next phase of growth.
We’re confident that, by making these difficult but necessary decisions, we’ll continue to propel Travala.com to new heights throughout this bear market.
Thank you for all your continued support,
The Travala.com Team