Binance-Backed Travala Launches Dtravel, a ‘Decentralized Airbnb’

The project will be run as a DAO with the Dtravel token (TRVL) being used to facilitate decision-making.

AccessTimeIconJun 16, 2021 at 1:01 p.m. UTC
Updated May 9, 2023 at 3:20 a.m. UTC
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Binance-backed booking site Travala.com is launching Dtravel, a decentralized vacation rental service that gives homeowners a stake in the platform. 

Unlike the setup on a centralized platform such as Airbnb, Dtravel homeowners and house guests share a joint ownership of the platform. Dtravel is community owned through the Dtravel DAO (decentralized autonomous organization), in which peer-to-peer communication and voting are core to the effort. The TRVL token will be the main conduit.

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  • “It really comes down to trust, and this is what we see with blockchain. You can guarantee trust on a level you would never be able to on a centralized platform,” Travala CEO Juan Otero said.

    The DAO model allows hosts and guests to vote on issues that include everything from last-minute cancellations to how community treasuries are spent.

    Over the past year, COVID-19 has challenged booking companies, which have taken away funds from hosts. With a return to travel, a decentralized platform like Dtravel has the potential to have a global reach, Otero said.

    It’s not the first crypto project to attempt this business modeal. Former Uber employees started the Airbnb-esque Bee Token project, but they struggled to find users before they shut down the platform.

    Otero said recent developments in blockchain technology and usage could give Dtravel a better fate.

    The company plans to incentivize use of cryptocurrency across the platform by enabling the first 100,000 hosts to list their homes on Dtravel to collectively earn more than $35 million in TRVL coins. 

    Travala.com has more than 3 million listings of homes and hotels and more than 200,000 monthly users, Otero said. The platform offers more than 30 methods of payment, though 70% of users pay with cryptocurrencies.

    Dtravel is based on the Binance Smart Chain. Over the past past five months, it has raised $5 million in funds from Kenetic Capital, Future Perfect Ventures, DHVC, Plutus. VC, GBV Capital, AU21 Capital, Shima Capital, LD Capital and NGC Ventures, as well as from a handful of private investors. 

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