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Ctrl Wallet, a prominent self-custody crypto wallet supporting over 2,100 blockchains, has launched a significant liquidity initiative tied to its $XDEFI utility token.
This initiative highlights the long-term dedication of major stakeholders and introduces essential updates to its tokenomics.
Key stakeholders, including Delphi Digital, Mechanism Capital, Morningstar Ventures, and Ctrl Wallet’s co-founders, have committed to providing 12 months of liquidity.
Together, they are depositing 32% of total $XDEFI tokens—equivalent to 50% of the circulating supply—into Uniswap’s AMM liquidity pools. In total, 76.9 million $XDEFI tokens will be locked in until September 2025.
“This initiative demonstrates the unwavering belief we have in Ctrl’s potential,” said Emile Dubié, CEO of Ctrl Wallet.
By committing such a significant portion of tokens to liquidity provision, we are not only supporting the token’s stability but also laying the groundwork for future growth.
The liquidity program includes milestone-based withdrawal options after six months. Withdrawals can occur at four key stages, triggered by $XDEFI reaching fully diluted valuations (FDV) of $100 million, $200 million, $300 million, and $500 million.
To further incentivize liquidity retention, participants—excluding the project’s treasury—will earn a 10% annual yield on their deposited tokens.
Rebranding to $CTRL and new tokenomics model
In conjunction with the liquidity plan, Ctrl Wallet is preparing to rebrand from $XDEFI to $CTRL over the coming weeks.
This rebranding will feature a shift to a buy-and-burn tokenomics model, where 75% of all revenue generated by the wallet will be used to purchase $CTRL tokens on the open market.
These tokens will then be burned to reduce supply and increase value for holders.
New revenue-generating features will also be rolled out, including in-wallet quests, a launchpad, and expanded Gas Tank functionality, all aimed at boosting usage and benefiting $CTRL token-holders through the buy-and-burn mechanism.
Ctrl Wallet has experienced notable growth recently, reaching 400,000 weekly active users, a 2x increase over the previous quarter.
The post Ctrl Wallet announces liquidity initiative and $XDEFI token updates appeared first on Invezz
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