The largest $CTRL (fka $XDEFI) holders have come together to deposit 32% of the total $CTRL supply into AMM liquidity pools (i.e. Uniswap) for an expected period of 12 months.
The largest three investors, the two co-founders and the company’s treasury will lock a total of 76.9m $CTRL tokens into liquidity pools. These commitments involve participants depositing their existing liquid and circulating $CTRL tokens.
Liquidity Pool Deposit Plan for $XDEFI
Key Participants:
- Three Largest Investors
- Co-Founders
- Company Treasury
Total Contribution:
- 76.9 million $XDEFI tokens (32% of total supply and at the time of writing, 50% of current circulating supply)
- Duration: Until September 2025, with withdrawal options based on milestones after 6 months.
Key Benefits to the Community and $CTRL holders:
Alignment with Investors:
- Largest holders are committed to the long-term success of the project.
- Reduces potential sell pressure from large holders.
Increased Liquidity:
- Significantly deepen liquidity in the pools.
Circulating Supply Increase:
- Circulating supply will increase to approximately 70%, primarily due to the transfer of treasury tokens to liquidity pools.
Deposit Structure:
- Total Tokens Deposited: 76.9 million $CTRL tokens.
- Percentage of Total Supply: 32%.
- Vesting: Participants will proactively commit the majority of their liquid tokens into the pools.
- Fee Utilisation: 100% of the LP fees will be used to purchase $CTRL tokens on the open market and burn them, reducing the overall supply.
- Liquidity Management: The tokens will be transferred to the company’s multisig wallet, and the liquidity provision will be managed by the team throughout the period.
Withdrawal Conditions:
After 6 Months:
- 25% of liquidity can be withdrawn when $CTRL reaches a $100M FDV.
- 25% can be withdrawn at a $200M FDV.
- 25% can be withdrawn at a $300M FDV.
- Final 25% can be withdrawn when $CTRL reaches a $500M FDV.
Note contributors (excluding the project treasury) will receive a 10% APY on their deposited tokens to incentivize maintaining liquidity when milestones are met.
After September 2025:
- All tokens can be withdrawn irrespective of FDV.
- A reassessment with investors will take place to potentially expand the structure.
- Tokens from the treasury will remain in the pools.
$XDEFI to $CTRL Migration:
In September we migrated the token ticker from $XDEFI to $CTRL.
- This is important so that new $CTRL users are able to easily find the token.
- In addition, we changed the model to buy-and-burn. 75% of all revenue generated in Ctrl Wallet will be used to buy $CTRL on the open market (i.e. in Uniswap), and all purchased tokens will be burned.
- As we build out Ctrl Wallet, we will be adding new revenue generating features including in-wallet quests, a launchpad, and expanded Gas Tank functionality.
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This is the first step in our overall migration from the $XDEFI token to the $CTRL token.
We are truly grateful for the support of Mechanism Capital, Morningstar Ventures, Delphi Digital and the individual investors who offered to contribute.