Wolf Locks 57% Of Token Supply For Two Years To Fortify Trust Ahead Of Byrrgis’ Launch
In Brief
Wolf responded to a security breach and market sell-off by locking 57% of its WOLF token supply for two years, setting a new benchmark for long-term trust and stability in DeFi.
When it comes to DeFi, credibility often moves faster than capital with a single exploit capable of erasing months of trust almost overnight (and vice versa). In this regard, DeFi hub Wolf recently responded to a recent security scare with an unprecedented show of long-term confidence, announcing that it will lock away 57% of its native token supply ($WOLF) for the next two years.
Late last month, the WOLF token faced two isolated shocks. First, a trusted contractor tasked with setting up Wolf’s Ethereum bridge misused their access wherein instead of handing control back to the team after deployment, they retained control of the bridge’s contract.
The rogue contractor then exploited that backdoor to mint unbacked WOLF tokens on Ethereum, siphoning off over $600,000 in liquidity from the bridge. Not long after, another blow came when a large early investor declined to join Wolf’s voluntary lock-up program (which required signing an NDA) and suddenly dumped about 2% of the token’s total supply on the open market, jolting holders.
Faced with these challenges, Wolf acted decisively with the team immediately shutting down its compromised Ethereum bridge and launching a forensic review. In fact, following the breach, Wolf’s developers fortified their bridge architecture immediately, patching vulnerabilities and instituting stricter controls to prevent a similar exploit from happening again.
As for the whale’s sudden sell-off, its market impact was largely contained. If anything, the scare only strengthened the resolve of remaining WOLF holders to support the project’s long-term vision.
Locking tokens to rebuild trust
To shore up confidence, Wolf corralled its major token holders into committing to a two-year lock-up using Streamflow, a platform for time-locking tokens. More than 57% of the entire WOLF supply is now sealed under this arrangement (over 570 million tokens worth roughly $13.2 million at current prices).
And this isn’t just a temporary freeze; it’s a lock-up with carefully staggered vesting. After the two-year term, only a small portion (around 2.5% of the locked amount) will become available immediately, with the rest releasing gradually. The lock is publicly verifiable and backed by legal agreements, meaning anyone can see which wallets are bound by it and exactly when those tokens will unlock.
By voluntarily immobilizing such a large share of its supply, Wolf is looking to shield its community from the threat of sudden dumps. On the subject, Siraaj Ahmed, CEO of Byrrgis (Wolf’s parent platform), recently opined:
“With the broader whale community now aligned, WOLF has unmatched stability moving forwards. Combined with the decisive action taken to resolve the ETH bridge incident, we’re aiming to set a new benchmark for transparency and accountability in DeFi. Under Byrrgis, this foundation becomes the blueprint for how Web3 ecosystems should be built: long-term, transparent, and trust-minimized.”
Similarly, Robert Freeman, Wolf’s CTO, also underscored the internal changes accompanying these public measures, stating that the platform had adopted a “zero-trust” security model internally where no contractor or team member could implicitly be trusted. As a result, access to critical systems is now limited to the bare minimum required, and even that is granted only on a just-in-time basis.
The need for a new standard of trust in DeFi
Historically speaking, cross-chain bridges have remained notorious weak points for the crypto economy, collectively accounting for nearly half of all losses from DeFi hacks. While security breaches have plagued many projects, Wolf’s case shows that a team can answer such threats with more than just a few code fixes.
Also, it bears mentioning that while token lock-ups have long been standard anti-dumping measures for founders and early investors, a community-driven lock of this magnitude post-launch is virtually unheard of.
That said, the timing of these measures is no coincidence as they come at a time when Wolf’s parent platform, Byrrgis, is preparing for its official launch. Byrrgis aims to deliver a secure one-stop DeFi experience with advanced dashboards and curated “packs” of tokens across multiple blockchains, all powered by the $WOLF token.
Therefore, in an industry often marred by short-term thinking and hype, Wolf’s two-year token lock stands out as a bold commitment to stability. Whether other projects follow suit remains to be seen, but for now Wolf’s community can breathe easier knowing more than half of the token’s supply is pledged to the future.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
