Travala.com Completes First Quarterly AVA Token Burn
Travala.com burns 187,254 AVA, equivalent to $17,000 USD worth of tokens.
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.
Travala.com has now completed its first burn of 187,254 AVA reducing the total supply from 61,571,086 to 61,383,832 AVA as can be seen here https://explorer.binance.org/asset/AVA-645
Aiming to offer full transparency around the Repurchasing and Burning Plan, below is a summary of the different transactions executed;
Transaction to burn address: