Travala launches AVA buyback multiplier with total purchases reaching up to 4x

Blockchain travel platform Travala announced the launch of the AVA Buyback Multiplier mechanism. The mechanism adjusts Travala's matching buybacks according to the AVA rebate rewards received each month by AVA Smart members. Monthly member rewards below $100,000 carry a 1x matching multiplier for Travala.

Monthly member rewards reaching $100,000 raise Travala's matching multiplier to 1.5x. Monthly rewards reaching $150,000 raise the multiplier to 2x. Monthly rewards reaching $200,000 raise the multiplier to 2.5x. Monthly rewards reaching $250,000 raise the multiplier to 3x. At that highest threshold, combined buybacks by the foundation and Travala reach 4x member rewards.

Travala said the foundation buys back each month the AVA distributed to members during the preceding month. Travala said Travala then makes matching purchases using the applicable multiplier. Travala said purchased tokens are permanently locked in the AVA Strategic Reserve multisig wallet, with a commitment against sales or transfers.

The AVA Foundation had bought back a cumulative 5,423,181 AVA as of the announcement. The strategic reserve held 598,458.78 AVA following the latest two matching buyback rounds. On-chain records allow verification of the associated transactions.