ATIP to KVRI Bridge

Published on
July 22, 2022
Written by
Max Fitzpatrick
Category
Aerovek Announcements

ATIP to KVRI Bridge

Aerovek has made huge waves in the Elrond Ecosystem. When writing this the AERO token is the 6th most transacted ESDT directly after USDC sitting at 333,171 total transactions. 

With over 60k AERO token holders, we have reached a major milestone for the platform. It’s our mission to change the way consumers think about the aviation industry; to do so, we have continued to develop a long lasting approach.

The Aerovek team is building a product and community that has longevity and sustainability. Every decision the team makes has this sole goal in mind.

As a result of these goals and initiatives, we have a couple of updates that we need to make.

Important Updates 

First: ATIP will be swapped for KVRI (Kavarii Token). We will be launching a 1:1 bridge that will allow users to make the swap. It will be important for ALL ATIP holders to make the swap because it will no longer be the utility token for the lounge. Since KVRI and ATIP have the same exact total supply, people will not have the option to choose the number of tokens they want to swap, it's all or nothing. 

To learn more about Kavarii and the Utility behind the KVRI token go here

The Aerovek lounge has done so much for the community and the project at large. It allowed the earliest users to get their hands dirty with both web3 and Aerovek development capabilities. Since the birth of the Lounge a lot has changed and progressed. 

Elrond technology, Aerovek devs, and Smart contract capabilities have become much more advanced since the birth of the project. The progression of the lounge has shown us the proof of concept of a web3 social networking application and ultimately has led to the development of the KAVARII ecosystem. The KAVARII ecosystem is the next big leap for content creation on the blockchain.

Second: The tipping token in the Aero Lounge has now been transitioned from ATIP to AERO.

Since Atip will be completely swapped for KVRI the new tipping token will be AERO, adding additional utility to the token and giving all of our holders an opportunity to check out and participate in the Aero Lounge.

With the introduction of the Aero DAO, the lounge will also host discussions surrounding current and future proposals. The AERO token being used for tips, users can reward others for valuable proposal suggestions, posts, and comments. Overall, this change will incentivize and reward active members of the community and give the AERO token more utility within the Aero Ecosystem.

With the changes with the DAO, ASA, KAVARII, the lounge, and now ATIP we are officially entering a new growth phase. 

In Closing: 

The Aero Foundation team is excited about all the latest developments for the community and the ecosystem as a whole. Don’t forget to swing by the lounge and utilize your Aero tokens to discuss, propose and comment on proposals for the DAO. If there are any questions in regards to any of the changes, we urge you to reach out to us via Twitter, or our contact page here on the website!

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