Ctrl Wallet Confirms 12-Month Liquidity Provision by Largest $XDEFI Token-Holders

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Liquidity Initiative Announcement
  2. Liquidity Provision Terms and Conditions
  3. Future Changes and Plans


    4. 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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Circle and Global Citizen to Implement USDC Payments for Move Afrika Vendors

Circle and Global Citizen announce a partnership to implement USDC payments for vendors involved in the Move Afrika initiative, starting in Rwanda in 2027.

user avatarTando Nkube

Fold Focuses on Customer Retention with New Products

Fold focuses on customer retention and balances with new products like Fold Reserve and Lead Bank spending accounts.

user avatarNguyen Van Long

Onramp Introduces New Business Bitcoin Account with Enhanced Security Features

Onramp has launched a new business Bitcoin account focusing on security and governance, supporting up to three named users and role-based permissions.

user avatarKofi Adjeman

Fold Reports $42 Million Revenue and $26 Million Net Loss in Q3

Fold reported $42 million in revenue and a $26 million net loss for Q3, attributing growth to Bitcoin gift card sales via TikTok Shop.

user avatarSatoshi Nakamura

Hyperscale Data Shifts Focus to Mining and Infrastructure Development

Hyperscale Data plans to generate future Bitcoin balances primarily from mining while targeting infrastructure development.

user avatarJesper Sørensen

Hyperscale Data Completes Sale of Remaining Bitcoin Reserves

Hyperscale Data has sold its remaining Bitcoin reserves, raising approximately $16 million for debt reduction and its Michigan AI campus.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.