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The team of Travala, a famous platform for booking hotels and flights with crypto payments, has announced that the AVA token will be used as collateral for Bidao.
#Travala Goes DeFi with AVA Listed as Collateral Asset$AVA follows other leading cryptocurrencies such Binance Coin (BNB), Ontology (ONT) and TRON (TRX) being added as collateral on @Bidaochain's DeFi ecosystem that is secured by Chainlink price oracle.https://t.co/60kGMOCfnE
— Travala.com 🏨 ✈️ 🏡 (@travalacom) August 26, 2020
By now Travala is on everyone’s lips because of its constant success, despite the ongoing pandemic that we are experiencing.
Thanks to its competitive prices, made possible by staking AVA tokens based on Binance’s blockchain, the project is constantly growing and is now also aiming to become more decentralized.
As if that weren’t enough, the Bidao (BID) project, a PoS (Proof of Stake) blockchain that has its own stablecoin, BAI, also based on Binance Chain, has thought well of using this token as a collateral for its stablecoin, a system that can also be found on MakerDAO with its DAI.
It should be remembered, however, that the Bidao project is still in its infancy and has not yet been launched, but it can already boast several partnerships and tokens that can be used as collateral, including:
- Tron (TRX),
- Bitcoin (BTC),
- Ethereum (ETH),
- IOST,
- Binance Coin (BNB),
- Qtum,
- Ontology (ONT).
Moreover, the system is supported by Chainlink (LINK) which will allow controlling the price of the various assets.
Bidao, the advantages of DeFi with Travala
It was very easy for Travala to obtain this advantage as they share the same blockchain and the procedure will be simple.
This will expand DeFi even further, commented the CEO of Travala, Juan Otero:
“We’re very excited to see the Travala.com and AVA ecosystem continuing to expand, now into the DeFi space. Bidao’s multi-chain solutions for DeFi applications will allow AVA token holders to enjoy some of the great benefits of DeFi, such as using AVA as collateral to borrow a stablecoin. We are constantly scanning the landscape for AVA to be used in other applications.”
For its part, the Bidao team was really impressed by how it is possible to book so many different places, and they are also looking forward to BAI becoming a payment option on Travala, reiterated the CEO of Bidao, Bastian Aigner:
“We are highly impressed with what the Travala.com team is building and feel very honored to collaborate with them strategically. With over 2.2 million hotels/accommodations and 600+ Airlines worldwide, Travala.com is reshaping digital-age travels by building a crucial bridge between everyday life and the crypto industry. With our Bidao stablecoin (BAI) being accepted as a payment option on Travala.com, this brings massive use case opportunities for BAI. It is truly exciting to see such amazing use cases upcoming for BAI.”