- Liquidity Initiative Announcement
- Liquidity Provision Terms and Conditions
- Future Changes and Plans
Ctrl Wallet, a leading self-custody crypto wallet providing access to over 2,100 blockchains, has announced a significant liquidity initiative involving its $XDEFI utility token.
Liquidity Initiative Announcement
Ctrl Wallet announced a significant liquidity initiative involving its $XDEFI utility token. The largest token-holders have committed to a 12-month liquidity provision, depositing 32% of the total $XDEFI into AMM liquidity pools on Uniswap. This is equivalent to 50% of the current circulating supply.
Liquidity Provision Terms and Conditions
Ctrl Wallet’s largest investors, including Delphi Digital, Mechanism Capital, and Morningstar Ventures, as well as its two co-founders and the company’s treasury, have committed to depositing a total of 76.9 million $XDEFI tokens into the pools until September 2025. This initiative includes both liquid and circulating $XDEFI tokens.
According to Emile Dubié, CEO of Ctrl Wallet:
"This initiative demonstrates the unwavering belief we have in Ctrl’s potential."
Participants will be able to withdraw portions of their tokens over a six-month lock-up period based on $XDEFI reaching certain fully diluted valuation (FDV) levels of $100M, $200M, $300M, and $500M.
To encourage maintaining liquidity, participants, excluding the project treasury, will receive a 10% annual percentage yield (APY) on their deposited tokens.
Future Changes and Plans
The initiative precedes Ctrl Wallet’s planned migration from $XDEFI to $CTRL in the coming weeks. This rebranding will be accompanied by a shift to a buy-and-burn model, where 75% of all revenue generated by Ctrl Wallet will be used to purchase $CTRL tokens on the open market, which will then be burned.
The wallet will also add new revenue-generating features, including in-wallet quests, a launchpad, and expanded Gas Tank functionality. These additions are expected to drive increased usage and revenue, directly benefiting $CTRL token-holders through the buy-and-burn mechanism.
Recent traction includes achieving 400K WAU, a doubling from the previous quarter.
Ctrl Wallet continues to evolve and strengthen its position in the crypto world, providing users with new opportunities and enhancing their token experience.
