AVA Foundation and crypto travel platform Travala said they have upgraded the AVA Smart loyalty program, adding new token lockup tiers and setting a long-term goal of locking 30% of AVA’s circulating supply. The program now has more than 170,000 members, up 110% year over year, with about 12.1 million AVA locked, equal to roughly 16% of circulating supply. Travala CEO Juan Otero said users who lock AVA can earn more rewards from each booking, and said the update is designed to reward early participants while giving the most loyal members more ways to take part. The move comes one week after the launch of the AVA Permanent Strategic Reserve, under which Travala will match AVA Foundation’s monthly open-market buybacks, doubling the total amount repurchased. In September, the two buyback programs together repurchased 739,762 AVA, according to CryptoPotato, as cited by Techub News.
AVA Foundation and crypto travel platform Travala said on Thursday they have upgraded the AVA Smart loyalty program, introducing new token lockup tiers and setting a long-term target of locking 30% of AVA’s circulating supply.
Program membership exceeds 170,000
The companies said the program now has more than 170,000 members, up 110% from a year earlier. About 12.1 million AVA has been locked through the program, representing roughly 16% of the token’s circulating supply.
Juan Otero says locked AVA brings higher booking rewards
Travala Chief Executive Officer Juan Otero said more than 170,000 travelers have joined the AVA Smart program, and users who lock AVA can receive greater rewards from each booking.
He said the update is intended to reward early participants and give the most loyal members additional ways to participate.
Update follows launch of AVA Permanent Strategic Reserve
The announcement came one week after the launch of the AVA Permanent Strategic Reserve. Under that plan, Travala will match AVA Foundation’s monthly open-market buybacks, doubling the total amount repurchased.
In September, the two buyback initiatives repurchased a combined 739,762 AVA.
The information was reported by CryptoPotato and carried by Techub News.
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