Travala Matches AVA Foundation Buybacks With Monthly Purchases
Travala will place the tokens in a multisignature strategic reserve where they will never be sold or transferred, expanding monthly purchases to twice member rewards.
Travala has begun matching the AVA Foundation’s monthly open-market purchases of AVA, a token in Travala’s ecosystem, doubling the amount bought relative to member rewards and placing the tokens into a long-term reserve.
Travala’s purchases will go to a multisignature-controlled strategic reserve wallet. The tokens will never be sold or transferred and will be removed from official circulating-supply figures.
The first round saw Travala and the AVA Foundation each purchase 369,881.04 AVA, for a combined total of 739,762.08 AVA.
Under the expanded mechanism, the two programs together will purchase AVA each month equal to twice the amount distributed as rewards to AVA Smart members.
Before Travala joined the program, the AVA Foundation bought an amount matching the previous month’s AVA Smart member rewards. Those tokens were returned to an ecosystem incentives wallet, with cumulative purchases reaching 4,824,722 AVA.
Travala plans to submit the reserve wallet address to CoinMarketCap and CoinGecko and seek classification of the holdings as noncirculating supply.
