Travala.com burns 101,292 AVA, equivalent to $196,505.62 USD worth of tokens at the time of the burn.
As per Travala.com’s whitepaper, the AVA Repurchasing Plan will take place every quarter until 21,571,086 AVA are permanently destroyed. This represents 35% of the total starting supply of 61,571,086 AVA, reducing the overall total supply to just 40,000,000 AVA.
The amount of AVA to be repurchased and burned each quarter is determined by Travala.com’s booking activity, therefore it’s expected that as our booking volumes continue to grow so will the value of AVA tokens repurchased and burned on a quarterly basis.
We have completed our seventh quarterly burn of 101,292 AVA reducing the total supply to 61,011,389 AVA as can be seen here https://explorer.binance.org/asset/AVA-645
101,291 AVA – https://explorer.binance.org/tx/2
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