Travala to Buy Back AVA Tokens Monthly and Lock Them Permanently
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The crypto travel booking platform Travala has launched an AVA token buyback mechanism in collaboration with the AVA Foundation. Travala will independently conduct equal buybacks each month and transfer the repurchased AVA into a multi-signature wallet designated as the Travala AVA Strategic Reserve, committing that the AVA in this reserve will never be sold or transferred. This mechanism increases the monthly buyback volume in the open market to twice the amount of member rewards issued. The AVA in the reserve will be excluded from the official circulating supply, and the wallet address will be submitted to CoinMarketCap and CoinGecko for treatment as non-circulating supply. The first buyback has been completed, with both the AVA Foundation and Travala repurchasing 369,881.04 AVA each, totaling 739,762.08 AVA. Previously, the AVA Foundation conducted monthly buybacks in the open market equivalent to the amount of AVA rewards issued to AVA Smart members in the previous month, transferring them back to the ecological incentive wallet, with a cumulative buyback of 4,824,722 AVA to date.
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