Strengthening the AVA Ecosystem & Token Demand
The AVA Foundation is excited to announce the launch of the AVA Buyback Program to boost the growth of the AVA ecosystem. This powerful new initiative will further align AVA token reserves with the Foundation’s and our partners’ confidence in AVA’s long-term potential while aiming to generate greater demand and value for AVA.
Each month, the AVA Foundation will purchase AVA tokens on the open market equivalent to the USD value of all the AVA giveback rewards distributed to Smart members for travel bookings in the previous month. These AVA tokens will be bought using stablecoins received from Travala.com as part of their partnership with the AVA Foundation. The purchased tokens will be held in the Ecosystem Incentives Wallet, further supporting the ecosystem’s growth.
In the past 6 months alone, over 1,000,000 AVA tokens have been distributed in giveback rewards via the AVA Smart Program to Smart members, the majority of which have been held or used for bookings on the Travala.com platform. Going forward, tokens distributed as giveback rewards will be repurchased by the AVA Foundation as part of the AVA Buyback Program, driving sustained demand and growth for the AVA token.
This initiative further solidifies the synergies between the AVA Foundation and Travala.com, strengthening AVA’s utility, increasing AVA’s role within the ecosystem, and providing long-term benefits to the community resulting from ongoing demand for the AVA token.
With the number of Smart members growing and booking volumes on Travala setting new records, givebacks—one of AVA’s most enduring use cases—now incorporates a strong demand and supply mechanic to provide a sustainable and balanced approach to use incentivization and reward distribution.
As Travala.com continues to expand, the total AVA rewards distributed each month will grow exponentially. This will translate to an even greater amount of AVA tokens issued as givebacks, increasing the total volume of tokens repurchased by the AVA Foundation. As a result, the program will scale in parallel with our partner platform’s growth, generating greater demand for AVA tokens while strengthening the entire ecosystem.
The first monthly buyback equal to 182,866 AVA was completed based on the USD value of the token givebacks distributed to all Smart members between 1-30 November 2024. The AVA buyback amount is calculated based on the AVA/USD exchange rate on the day of the buyback. The transaction ID of the buyback deposit to the Ecosystem Incentives Wallet is provided here:
0x6fc55ae5fcd2d5ecc789aca16f8720637c785a0a9c47467e276e3b35617a4b42
The AVA Foundation implements this initiative with the strong belief that it will have positive network effects on the entire AVA ecosystem. The amount of each monthly buyback—along with the corresponding transaction ID—will be publicly shared with the community on Telegram and Twitter.
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About AVA Foundation
The AVA Foundation’s overarching mission is to create a decentralised and self-sufficient blockchain-based loyalty ecosystem with AVA at its core. The AVA token functions as the key to accessing web3 loyalty programs and provides perks to end users, such as AVA payment discounts, AVA loyalty rewards, gated access benefits, and more. AVA tokenises the concept of loyalty reward programs using blockchain technology, bringing web3 to traditional loyalty models.