Travala are trying to put a positive spin on it, but cutting rewards from 24% APY to 12% APY is a bit of a shaft for early adopters who bought a lot of tokens on the basis of the former perpetual rewards.
They're also lowering the thresholds for each SMART level - so Level 1 is now 250 AVA, level 2 is 500 and so I guess level 3 1250? and so on.....
And they're refunding everyone the difference.
I figure this is going to mean a short term sell-off, especially from those who bought-in when AVA was selling at well below $1.
So I just pulled my BEPSWAP pool with RUNE - you might want to do the same if you've got one going - if you want more AVA you may as well wait until it bottoms rather than getting your RUNE sucked out of your account as people swap AVA for it!
I still think the future is positive for AVA, as they are doing partly because of the SUCCESS of the membership programme, but in the short term I can only see the price going down?!?