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liquidity provision comes with milestone-based withdrawal options after the initial six-month period: a quarter can be withdrawn when $XDEFI reaches a US$100M fully diluted valuation (FDV), with another quarter released at US$200M FDV, a quarter at US$300M FDV, and the final quarter when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

Optimism Releases Required Batcher Update v1170

Optimism has announced the release of opbatcher v1170, which is mandatory for operators using the batching infrastructure for OP Stack chains.

user avatarAndrew Smith

NEAR Developers Release First Candidate for nearcore 2140

The NEAR developers have published the first release candidate for nearcore 2140, introducing significant protocol and database changes.

user avatarJacob Williams

Lido Completes Winddown of Regular Simple DVT Clusters

Lido has successfully completed the winddown of its regular Simple DVT clusters, marking a significant step in the decentralization of its validator operations.

user avatarZainab Kamara

Avalanche Schedules Helicon Network Upgrade for September 22

Avalanche has announced the Helicon network upgrade for its mainnet, set to activate on September 22 at 1500 UTC.

user avatarSon Min-ho

Uniswap Proposes Protocol Fee Rollout to Circles Arc Blockchain

Uniswap Labs has introduced a proposal to extend its protocol fee collection and UNI burn infrastructure to the Arc blockchain.

user avatarAyman Ben Youssef

Aave V4 Now Live on Circle's Arc Blockchain

Aave V4 has officially launched on Circle's newly established Arc blockchain, featuring key assets such as USDC, EURC, cirBTC, and WETH.

user avatarTando Nkube

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.