We’ve talked a lot about the Ctrl wallet, and for good reason. It’s quickly becoming the smartest choice for anyone wanting to use crypto without stress. Their design focuses on simplicity—no seed phrases, zero gas fees, and a user-friendly interface. Beyond that, we like their focus on privacy.

The Ctrl wallet has been working on a rebrand. They were formerly known as XDEFI wallet but transitioned to Ctrl. Why? The goal is to push beyond a DeFi-centric wallet. They want to cater to everyone and ensure everyone has a smooth experience with crypto.

They are currently in Beta phase and have seen massive interest. Check this out; over 21,000 signed up to try their new features. Now, as part of their rebranding, the $XDEFI token is migrating to $CTRL.

All you need to know

The migration portal will go live on October 17. When it does, you can migrate your $XDEFI tokens to $CTRL. The entire migration process will be gas-free until December 31.

Furthermore, a CTRL-ETH pool will be created on Uniswap. CTRL’s market maker will help keep the price consistent between $XDEFI and $CTRL. However, all $XDEFI staking rewards will end.

The next major date is October 22.  Then, exchanges like Gate.io, KuCoin, and Huobi Global will stop all $XDEFI trading and deposits. $CTRL will begin trading on these exchanges on October 23. 

Note: If you hold $XDEFI on any of these platforms, there’s no need to take action as the migration will be handled automatically.

The Ctrl wallet team worked to ensure the process was simple, transparent, and secure. They also cover all gas fees for token holders. Migration is on a 1:1 ratio. This means for every 1 $XDEFI you hold, you’ll receive 1 $CTRL.

Furthermore, the total supply stays fixed at 240,000,000 tokens. The team plans to use 75% of all fees generated by the CTRL wallet to buy $CTRL on the open market. It will burn these tokens to reduce supply, which could affect the $CTRL price. This could also lead to a deflationary supply over time, which is something we like.

How do I migrate?

The process is pretty easy. Here are the steps:

1. Connect your wallet containing $XDEFI on the Ethereum network.

Select the $XDEFI tokens you want to migrate.

Click on “Migrate to $CTRL.

Confirm the migration—no transaction fees are required!

That’s it! Your $XDEFI tokens will be swapped for $CTRL. Each exchange will announce their specific time to start trading $CTRL. So, monitor their pages for such details.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This post is sponsored by Ctrl.

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