Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
This initiative aims to boost liquidity across Ctrl’s ecosystem and lay the groundwork for the community’s future growth.
Web 3 self-custody wallet Ctrl Wallet announced a new liquidity provision program following a governance vote by the largest holders of its native token, $XDEFI. The 12-month liquidity provision program aims to increase liquidity across its ecosystem and give $XDEFI major stakeholders a chance to show their long-term commitment to the project. Additionally, the significant liquidity initiative involving its $XDEFI utility token introduces important updates to its tokenomics.
Ctrl Wallet is a leading Web 3 self-custody wallet that supports over 2,100 blockchains, crypto, and NFTs, empowering DeFi users via its robust features, intuitive interface and multi-chain capabilities. The liquidity initiative will see the largest holders of $XDEFI deposit 32% of the total supply (or 50% of the current circulating supply) into AMM liquidity pools on Uniswap. This is expected to deepen liquidity and reduce potential selling pressure significantly.
Speaking on the launch of the initiative, Emile Dubié, CEO of Ctrl Wallet, praised the efforts of the stakeholders stating:
“This initiative demonstrates the unwavering belief we have in Ctrl’s potential. By committing such a significant portion of tokens to liquidity provision, we are not only supporting the token’s stability but also laying the groundwork for future growth.”
The top largest holders of the $XDEFI token include Delphi Digital, Mechanism Capital and Morningstar Ventures, in addition to its two co-founders and the company’s treasury. Collectively, the investors will deposit 76.9 million $XDEFI into the pools until September 2025. This amount includes liquid and circulating $XDEFI tokens.
Ctrl Wallet Introduces New Token Unlock Schedule
In addition to launching the liquidity initiative, Ctrl Wallet also announced a new token unlocking schedule based on milestones. The withdrawal of the tokens will start at six months following the launch (March 2025) with a strict number of tokens to be unlocked. The first quarter can be withdrawn when $XDEFI reaches a US$100M fully diluted valuation (FDV), with another quarter released at US$200M FDV, and a quarter at US$300M FDV, and the final quarter when $XDEFI reaches US$500M FDV.
The project will also incentivize investors to keep their tokens locked in the AAM pools, offering a 10% APY on their deposited tokens. The APY will only be offered to contributors and investors, not the project’s treasury.
The latest initiative comes weeks before the planned migration of Ctrl Wallet’s $XDEFI tokens to $CTRL tokens. The rebranding from $XDEFI to $CTRL will also see the project adopt a buy-and-burn model, with 75% of all revenue generated in Ctrl Wallet used to purchase $CTRL tokens on the open market, which will then be burned.
Notwithstanding, Ctrl Wallet also announced the introduction of new revenue-generating features including in-wallet quests, a launchpad, and expanded Gas Tank functionality. Such additions are expected to drive increased usage and revenue, directly benefiting $CTRL token-holders through the buy-and-burn mechanism.
The recent developments are expected to further grow the project’s adoption rates. Since its launch in 2020, the project has amassed over 450,000 weekly active users, which is over 2X increase from Q2 2024.
