The world’s leading blockchain-based booking platform Travala has announced that it will be moving operations onto Binance Chain.
Travala Moving to Binance Chain
According to the update published on Sept. 3, Travala will be migrating its platform to Binance Chain while instituting a buyback and coin burn program for their native token. The announcement comes just days after the company promoted the addition of monero to their limited selection of crypto-assets offered for payment on the website.
The release states that Travala spent months researching the best blockchain platform to maximize usability and security before settling on Binance Chain,
“This is part of Travala.com’s determination to improve the token economics of its native token (AVA), while offering faster processing times, better performance and ease of on-chain use of AVA within the platform.”
In addition to migrating to Binance Chain, the booking platform will also integrate binance coin (BNB) as a preferred method for payment. The platform plans to apply for listing on the decentralized exchange Binance DEX
Travala also announced a buyback and burn program for their native token AVA that ultimately involves the permanent removal of 21,571,086 AVA, around 35 percent of the coin’s total supply. Each quarter the company will buyback and burn the equivalent of 20 percent of their net revenue until reaching their ultimate goal of reduction.