Skip to content

Ctrl Wallet makes new liquidity moves and announces XDEFI token updates

Ctrl Wallet makes new liquidity moves and announces XDEFI token updates

Ctrl Wallet, a leading self-custody crypto wallet with access to over 2,100 blockchains, has introduced a series of updates to its liquidity model and XDEFI token, as revealed to Finbold on Tuesday, September 10.

The new updates come as Ctrl prepares for a transition from XDEFI to CTRL tokens. 

XEDFI token updates

Ctrl Wallet’s key stakeholders, major investors such as Delphi Digital, Mechanism Capital, and Morningstar Ventures, and the company’s co-founders and treasury have collectively deposited 32% of the total XDEFI supply into Uniswap’s (UNI) liquidity pools. 

A total of 76.9 million XDEFI tokens will be locked into these pools until September 2025, with milestones in place for partial withdrawals. 

After the first six months, 25% can be withdrawn when the token reaches a fully diluted valuation (FDV) of $100 million, with additional withdrawals allowed at $200M, $300M, and $500M FDV.

Emile Dubié, CEO of Ctrl Wallet, characterized the liquidity initiative as groundwork for future growth:

“This initiative demonstrates the unwavering belief we have in Ctrl’s potential. 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.”

Rewarding liquidity providers on Ctrl Network

To reward liquidity providers, Ctrl is offering a 10% annual yield on deposited tokens, excluding the project’s treasury contributions, which further aligns the interests of investors with the project’s overall growth objectives.

This token rebranding, expected to unfold over the coming weeks, introduces a buy-and-burn model where 75% of Ctrl Wallet’s revenue will be used to purchase and burn CTRL tokens, driving up value. 

The wallet is also rolling out new revenue-generating features such as in-app quests, a launchpad, and an enhanced Gas Tank function.

With 400,000 weekly active users and growing engagement, Ctrl Wallet is upping the ante on its efforts to drive growth and provide value to token holders.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.