The Dtravel platform is operated with the TRVL token and enables payments in cryptocurrency.
Travel booking platform Travala announced yesterday that it is launching a decentralized home sharing platform that will provide an alternative to Airbnb. The platform will be called Dtravel and will allow users to pay for both short and long stays using both cryptocurrency and traditional methods.
The team behind Dtravel consists of former executives from global tech companies like Airbnb and Expedia. The project raised $ 5 million in a seed round supported by NGC Ventures, Kenetic Capital, AU21 Capital, Future Perfect Ventures, and others.
The current model of the home-sharing economy is clouded by centralized control, high fees, limited payment options, and lower levels of trust. These are all problems that Dtravel wants to solve.
Travala’s CEO and Co-Founder Juan Otero stated: “Traditional home sharing platforms are initially tailored to their users, but this changes over time. With the need to return profits to shareholders, home sharing platforms are forced to extract as much as possible from the transactions on their platforms. Dtravel primarily and forever meets the needs of the home sharing community. It’s easy to use, highly secure and optimized for the next generation of hosts and guests who want to regain control of their travel experience. “
The Dtravel Decentralized Autonomous Organization (DAO) gives control back to the community by allowing them to manage the platform. The introduction of blockchain technology for decentralized finance (DeFi) and smart contracts also creates better trust between guests and hosts.
The platform will have its own token, TRVL, which can be used to book stays, manage the platform and qualify for rewards by staking. TRVL will soon be available on both Ethereum and Binance Smart Chain, and more than $ 35 million in TRVL is available for the first 100,000 hosts to register.
TRVL aims to align the interests of Dtravel users who can also earn additional income from referrals and participation in troubleshooting, community forums and user support. Guests can pay for their stays with a variety of cryptocurrencies and the fees are 7.5% compared to up to 20% charged by similar centralized platforms. Hosts can also enjoy up to $ 1 million in damage protection and public liability insurance.
The future founding partner of Perfect Ventures, Jalak Jobanputra, added: “With travel beginning to recover and a record interest in blockchain technologies like cryptocurrencies, Dtravel gives eager people what has been missing: control and ownership over their own travel experiences. “