Ctrl Wallet announces liquidity initiative and $XDEFI token updates

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.

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.