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

Alchemy Pay Expands Regulatory Reach with New License in Mississippi

Alchemy Pay has secured a money transmitter license in Mississippi, increasing its total to 20 states in the US.

user avatarZainab Kamara

Blockchain.com Introduces New Trading API for Institutional Clients

Blockchain.com has launched a trading API designed for institutions to access its liquidity across digital assets.

user avatarSon Min-ho

Warren and Trump Team Up for Credit Card Interest Rate Cap

Senator Elizabeth Warren announced her readiness to collaborate with President Donald Trump to implement a 10% cap on credit card interest rates, aiming to provide relief for millions of Americans burdened by high credit card debt.

user avatarAyman Ben Youssef

Broadridge and Dinari Integrate Proxy Voting for Tokenized Stocks

Broadridge and Dinari have integrated their systems to allow eligible holders of Dinaris dShares to exercise voting rights through established proxy voting infrastructure.

user avatarTando Nkube

Google Launches TPU 8tx and TPU 8i Max AI Systems to Challenge Nvidia

Google has launched TPU 8tx and TPU 8i Max AI systems to enhance privacy and memory capabilities, aiming to compete with Nvidia.

user avatarKofi Adjeman

Nvidia's Stock Plummets Amid Scandal and Google’s AI Chip Launch

Nvidia's stock has dropped significantly following CEO Jensen Huang's admission of an extramarital affair, coinciding with Google's announcement of new AI chips.

user avatarNguyen Van Long

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.