Wolf, a one-stop DeFi hub on Solana (SOL), shares the details and motivation of its decision to initiate a massive token lock program. The eight-digit initiative is set to make WOLF tokenomics more balanced and attack resistant.
Now official: 57% of aggregated WOLF supply to be locked by major accounts
DeFi hub Wolf has unveiled its robust response to a recent token-bridging incident to restore community confidence and support the sustainable growth of its on-chain ecosystem. A raft of measures include the commitment of more than 57% of all WOLF tokens to a two-year lock, demonstrating the belief that major holders hold in the platform’s long-term prospects.
The rapid response taken by Wolf is designed to mitigate the effects of the bridge incident and to align its community behind the team’s vision for providing institutional-grade DeFi services secured by Byrrgis's advanced architecture. These efforts will not only reduce sell pressure but protect WOLF holders by providing full transparency into token ownership and vesting.
In late September, Wolf experienced two isolated events that impacted the WOLF token. In the first, a trusted contractor retained ownership of Wolf’s Ethereum bridge during its setup phase. Instead of transferring ownership back to the team upon completion, the contractor abused their position to mint unbacked ETH-WOLF and drain ~$600K+ in ETH-side liquidity.
This was followed by an early whale refusing to sign an NDA and join the community lock framework before abruptly selling ~2% of the supply. Both of these incidents have subsequently been mitigated, with the WOLF token and bridge fortified to prevent the possibility of any recurrences.
Two-year lock program affects $13.2 million in WOLF liquidity
Every major WOLF holder has now locked their tokens through Streamflow, resulting in 57% of all WOLF tokens of the total supply now locked for two years, equating to more than 570 million tokens worth $13.2 million. The lock releases gradually, with 2.5% vesting after the two-year period and the option to relock thereafter.
Siraaj Ahmed, CEO of Byrrgis/Wolf, explains the rationale of such a decision that is necessary to protect the community and token holders from negative effects:
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.
Robert Freeman, CTO of Byrrgis/Wolf, also shared some steps the team took to prevent such accidents from happening again:
Despite having been fully audited, the ETH bridge was unfortunately accessed by a contractor abusing administrator privileges. We acted immediately, shutting it down, and launching a forensic review. What we’ve learned is now shaping a higher standard: WOLF has applied zero-trust security principals across all services and infrastructure with least privilege access and just-in-time privilege escalations.
Wolf’s NDA-backed, multiyear supply lock on Streamflow will provide a stabilizing framework that gives community members full visibility into ownership and unlocks. Byrrgis will apply these lessons across its umbrella, embedding accountability, transparency and resilience that will foster best practices across the entire DeFi landscape.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team