Largest $XDEFI Token-Holders Confirm Long-Term Liquidity Provision

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Liquidity Support from Major Holders
  2. Terms and Objectives of Liquidity Provision
  3. Planned Migration to $CTRL


    4. Ctrl Wallet, a leading crypto wallet providing access to over 2,100 blockchains, has announced a significant liquidity initiative involving its $XDEFI utility token. This move underscores the long-term commitment of the wallet’s major stakeholders and introduces important updates to its tokenomics.

    Liquidity Support from Major Holders

    Ctrl’s largest token-holders have agreed to commit to a 12-month liquidity provision, depositing 32% of total $XDEFI – equivalent to 50% of current circulating supply – into AMM liquidity pools on Uniswap. The year-long commitment will significantly deepen liquidity and reduce potential sell pressure. Those holders include Ctrl Wallet’s largest investors, including Delphi Digital, Mechanism Capital and Morningstar Ventures, in addition to its two co-founders and the company’s treasury. Collectively, the investors will deposit a total of 76.9 million $XDEFI into the pools until September 2025. This amount includes liquid and circulating $XDEFI tokens.

    Terms and Objectives of Liquidity Provision

    The liquidity provision comes with milestone-based withdrawal options after the initial six-month period: a quarter can be withdrawn when $XDEFI reaches a US$100M fully diluted valuation (FDV), with another quarter released at US$200M FDV, a quarter at US$300M FDV, and the final quarter when $XDEFI reaches US$500M FDV. To incentivize maintaining liquidity even as milestones are met, contributors – excluding the project treasury – will receive a 10% APY on their deposited tokens.

    Planned Migration to $CTRL

    The commitment has been made ahead of Ctrl Wallet’s planned migration from $XDEFI to $CTRL over the coming weeks. This rebranding effort will be accompanied by a shift to 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. New revenue-generating features will also be added to Ctrl, 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.

    Recent traction has seen Ctrl Wallet achieve 400k weekly active users, a 2x increase within the most recent quarter. These efforts aim to support token stability and further growth.

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

Fairshake Launches Bipartisan Campaign to Support Pro-Crypto Lawmakers

Fairshake is launching a bipartisan campaign to support 32 incumbent candidates in the House, focusing on those who back the House CLARITY market structure bill, with an initial commitment of $6 million in independent spending.

user avatarLeo van der Veen

Binance Introduces AI-Driven Trading Tools

Binance launches a suite of AI products aimed at enhancing trading experiences for various user levels.

user avatarLi Weicheng

Binance Announces Dividend Reinvestment for Tokenized Stocks

Binance has announced a dividend reinvestment process for holders of its Oracle and Marvell tokenized stocks, where dividends will be reinvested into additional fractions of the same securities.

user avatarAisha Farooq

Cryptocom Enhances Trading with Insilico Terminal Integration

Cryptocom has announced an integration with Insilico Terminal on October 6, allowing users to connect their Cryptocom Exchange accounts directly to Insilico's trading platform.

user avatarLi Weicheng

Binance Pay Launches Mobile Top-Up Promotion to Boost Crypto Spending

Binance Pay has launched a promotion offering eligible users a 20% discount on their first mobile top-up to encourage crypto spending.

user avatarTenzin Dorje

Hyperscale Data Reveals Financial Position on Bitcoin and Cash Reserves

Hyperscale Data disclosed its financial position, revealing it holds approximately $564 million in Bitcoin and cash as of October 4.

user avatarBayarjavkhlan Ganbaatar

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.