Travala Creates Permanent AVA Reserve And Doubles Monthly Buybacks

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR Travala has launched a permanent strategic reserve for its AVA token. The company says it will match AVA Foundation monthly open-market buybacks, effectively doubling the amount purchased each cycle. Travala says tokens placed into its reserve will not be sold or transferred. Crypto travel platform Travala is putting a new balance-sheet commitment behind its AVA token. The company has launched what it calls a permanent AVA Strategic Reserve and will match the AVA Foundation’s existing monthly open-market buyback program. That means each Foundation purchase will now be accompanied by a corresponding Travala-funded purchase. The First Reserve Purchase Was Nearly 740,000 AVA For the inaugural cycle, the AVA Foundation bought 369,881.04 AVA from the open market. Travala matched that with another 369,881.04 AVA, bringing the combined purchase to 739,762.08 tokens. The Foundation says it has historically repurchased more than 4.8 million AVA through its existing program. The new structure effectively doubles future monthly open-market buying if Travala continues matching each Foundat...