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1:1 Migration from $XDEFI to $CTRL

October 9, 2024
Blog
Ctrl

XDEFI Wallet has evolved into Ctrl Wallet. Now it is time for the $XDEFI token to evolve into $CTRL token.

Token Migration Overview

The process is straightforward and secure, and we even cover the gas fees when you migrate. Key points:

  • 1:1 Migration Ratio: For every 1 $XDEFI you hold, you will receive 1 $CTRL.
  • Total Supply: The total supply remains fixed at 240,000,000 tokens (same as $XDEFI).
  • No Migration Fees: We cover all gas fees for anybody that migrates before with the migration until December 31, 2024.
  • Buy and burn tokenomics: 75% of fees generated by Ctrl Wallet will be used to buy $CTRL on the open market. All $CTRL purchased will be burned.

Head to the migration tool here: app.ctrl.xyz/migrate

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Here's all the key information to help you navigate the process smoothly.

$CTRL Contract Address

The contract address for the ERC20 $CTRL Token: is 0xe50e009ddb1a4d8ec668eac9d8b2df1f96348707 (ETH Mainnet)

The ERC-20 contract has been audited by Code4Arena.

Migration Tool

We have built a simple tool to migrate your $XDEFI or $vXDEFI to $CTRL: app.ctrl.xyz/migrate.

  • You may now migrate your $XDEFI tokens to $CTRL at any time after October 17th.
  • We will pay your Gas Fees on the migration until December 31, 2024.
  • We've conducted a thorough audit with Code4Arena to ensure a secure migration process. You can review the full audit report here: https://code4rena.com/reports/2024-08-xdefi-proleague

$CTRL trading:

Our top priority is to ensure a smooth transition from $XDEFI to $CTRL.

Please follow our Twitter for the latest updates: https://x.com/Ctrl_Wallet

  1. On October 17, we funded the CTRL-ETH liquidity pool. Here is the Dexscreener link to trade: https://dexscreener.com/ethereum/0xfb1133ccd46b03570560eeb7978633bb9793d7a3
    • The Contract Address is: 0xe50E009Ddb1A4d8Ec668EAc9D8b2dF1F96348707
    • Our market maker is ensuring a consistent price between $XDEFI and $CTRL during this transition period.
  3. KuCoin, Gate, Huobi, LAToken and Bitci are all supporting the migration.
    • The migration will take place on:
      • October 22: Exchanges will halt deposits and trading on $XDEFI. User balances will be automatically migrated to $CTRL.
      • October 23 (or later): Exchanges will begin trading on $CTRL.
    • If you hold $XDEFI on any of these exchanges, no action is required—your funds will be automatically migrated to $CTRL
  5. CoinGecko and CoinMarketCap will list the new $CTRL token once trading is live. Please follow on twitter for updates.
  6. After KuCoin, Gate, Huobi, LA Token and Bitci migrate from $XDEFI to $CTRL, we will migrate the remaining liquidity from the current $XDEFI-ETH pool into the new $CTRL-ETH pool.
    • At that time, $XDEFI token will essentially cease trading.
    • Please note: You can still migrate from $XDEFI to $CTRL using our tool: app.ctrl.xyz/migrate

What if I hold $XDEFI on an Exchange?

Kucoin, Huobi, Gate.io, LA Token and Bitci are fully supporting the migration. If you hold $XDEFI on any of these exchanges, no action is required—your funds will be automatically migrated to $CTRL. The $CTRL token will be listed on these exchanges on or around October 23, 2024 (subject to final exchange scheduling).

Note: You can always send your $XDEFI held on an exchange to a self custody wallet including the XDEFI Wallet and then migrate your tokens with ease following the steps below.

How do I migrate my $XDEFI to $CTRL?

Step 1: Connect your wallet which contains $XDEFI on Ethereum.

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Step 2: Select $XDEFI to be migrated.

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Step 3: Select Migrate to $CTRL.

Step 4: Confirm the migration between $XDEFI and $CTRL.

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Note: There is no transaction fee, that is on us!

That’s it! After you confirm, your $XDEFI will have been migrated to $CTRL and you are good to go.

What if I own $XDEFI on Abritrum?

Option 1: Step 1: Bridge your $XDEFI on Arbitrum to $XDEFI on Ethereum using a dApp like SquidRouter or within the Ctrl wallet.

Step 2: Return to the Ctrl Migration site and connect your wallet which contains $XDEFI on Ethereum.

Step 3: Select Migrate to $CTRL.

Step 4: Confirm the migration between $XDEFI and $CTRL.

Note: From step 2 onwards, there is no transaction fee, that is on us until December 31, 2024!

Option 2: Step 1: You can send $XDEFI on Arbitrum directly to this address: https://arbiscan.io/address/0x0Ab9CECE79dA8143cF23bF8A5Df9Ab844D15C2c1

Step 2: We will send back the same amount of $CTRL to you within 3 hours.

Please note: You must send at least 10 $XDEFI for this method to work.

What if I own $vXDEFI?

In the case that you have staked your $XDEFI and hold $vXDEFI, you will simply have to sign an additional transaction from your wallet to first un-stake your $vXDEFI.

Step 1: Connect your wallet which contains $vXDEFI on Ethereum.

Step 2: Select $vXDEFI to be migrated.

Step 3: Select Migrate to $CTRL.

Step 4: Confirm the migration between $vXDEFI and $CTRL.

Step 5: Confirm the transaction in your wallet to finalize the migration between $vXDEFI and $CTRL.

Note: There is no transaction fee, that is on us for the first 2 months!

Will the migration be 1:1?

The migration will be 1:1. So, if you have 1000 $XDEFI tokens they will equal 1000 $CTRL tokens after the migration.

The total supply of the tokens will stay the same at 240M.

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What are the $CTRL tokenomics?

The $CTRL tokenomics are designed to align with long-term growth and value creation for Ctrl Wallet users and investors. Key points include:

  • Total Supply: The total supply of $CTRL will remain at 240,000,000 tokens, consistent with the former $XDEFI token supply.
  • Liquidity Commitment: A total of 76.9 million tokens (32% of total supply) will be locked into liquidity pools by the three largest investors, co-founders, and the company treasury. This commitment supports liquidity and reduces sell pressure.
  • Revenue Model: 75% of all revenue generated by Ctrl Wallet will be used to buy $CTRL on the open market and burn it, reducing circulating supply and increasing token value over time.
  • New Features: As we expand Ctrl Wallet’s functionality, new features like in-wallet quests, a launchpad, and the Gas Tank will create additional revenue streams, further contributing to the buy-and-burn mechanism.
  • Rebates: Holders of $CTRL will recieve rebates on swap fees in the Ctrl Wallet.
    • Tier 0: 0 - 999 $CTRL = 0.60% Fee (no change)
    • Tier 1: 1,000 - 49,999 $CTRL = 0.40% Fee (33% discount)
    • Tier 2: 50,000 - 99,999 $CTLR = 0.3% Fee (50% discount)
    • Tier 3: 100,000+ $CTRL = 0.20% Fee (66% discount)

The overall goal of $CTRL tokenomics is to create a sustainable, deflationary token model that rewards long-term holders and supports the growth of Ctrl Wallet.

How long do I have to migrate?

You have until September 2025 to migrate your $XDEFI to $CTRL using the official migration tool. However, we highly encourage completing your migration by December 31, 2024 to take advantage of zero gas fees—Ctrl will cover all gas fees during the first three months of the migration period.

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If you have any questions about the migration process, feel free to reach out on Discord.

Always use the official migration tool on our website or rely on the automatic migration via supported exchanges (KuCoin, Huobi, Gate.io, LA Token and Bitci)—please be cautious and avoid interacting with unofficial platforms to protect your assets.

What if I deposited $XDEFI to the Gas Tank?

Your $XDEFI tokens will be automatically converted to $CTRL.

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At the time of writing (October 17, 2024), the $CTRL is live. Please use caution to only interact with the official $CTRL token. Follow our official accounts for announcements and updates.