Velas, one of the leading high-speed blockchain platforms, has just announced a partnership with the popular cryptocurrency-friendly online travel booking platform Travala to promote the adoption and use of the Velas token (VLX).
Since it launched in 2019, Velas has been widely billed as a potential major competitor to Bitcoin and Ethereum, thanks to its unique artificial intelligence-powered blockchain architecture, which sees it use AI to enable massive scaling and robust security, while maximizing efficiency.
This system lends itself to use-cases where throughput and transaction speed are paramount — such as decentralized finance (DeFi) and a multitude of business applications.
VLX Will Be Added to Travala
According to today’s announcement, the Velas token will soon be added as a mode of payment on the Travala platform, allowing users to use their VLX tokens to pay for a wide variety of travel-related services.
Once added, VLX holders will be able to make bookings at over 2.2 million hotels and accommodations worldwide, and will also be able to pay for flights and activities on the same platform.
As per today’s announcement, VLX users will now be able to access and up to 40% discount when making their travel bookings via Travala compared to aditional travel agents, and can benefit from Travala’s best price guarantee offer — ensuring they will they receive the best offer available anywhere, even while paying in VLX.
The new partnership represents part of Velas’ broader plans to boost the utility of the VLX token and make it a viable alternative to traditional currencies. Velas Founder and CEO Alex Alexandrov puts it like this:
“Velas is changing the way we interact with and understand crypto, and this partnership is a step along the way towards our ultimate goal of a world where the Velas ecosystem is a normal part of everyday life.”
Besides using their VLX for their travel bookings, holders are also able to stake their tokens to earn regular rewards. This can be achieved by either launching their own masternode by staking 1 million VLX, or by delegating their stake through a supported pool, such as CoinPayments.
Expanding on the partnership, Juan Otero, CEO of Travala.com, said: “We’re excited to be partnering with Velas, who are pushing the boundaries of innovation with their approach to blockchain tech. Together with the talented Alex Alexandrov — who also founded the ever-popular CoinPayments — and the Velas team, our sights are firmly set on furthering crypto adoption with new collaborative projects.”
Travala’s Recent Moves
The move comes just two weeks after Travala joined forces with BitPay to launch crypto travel gift cards. Users on the platform can now purchase gift cards with a 10% discount using any of the 30+ cryptocurrencies supported by the platform — with VLX soon to be added to the list of available payment options.
“Through BitPay, travellers can now convert up to twenty thousand dollars to a Travala.com Travel Gift Card when cryptocurrency market conditions are favorable and use it to book travel anytime in the future, with the Travel Gift Cards having no set expiry date,” Travala.com explained.
— Travala.com 🏨 ✈️ 🏡 (@travalacom) November 19, 2020
As the world’s leading cryptocurrency-friendly online travel agent, Travala has seen its uptake among cryptocurrency users climb considerably in the last year.
According to its latest earnings report, the platform has grown by more than 500% in the last year, and revealed that 72% of bookings were now paid for using cryptocurrencies. Bitcoin (BTC) remains the most popular payment choice among users.
The platform now has a total of more than 2,300 ‘smart members’ — the term used to describe users who have signed up to its loyalty program.
The program currently has five membership tiers, each of which requires locking up increasing amounts of Travala’s native token (AVA), in return for an up to 5% smart discount and 5% loyalty rewards back, among other perks.