DeFi hub Wolf, operating under Byrrgis, has announced that more than 57% of its total WOLF token supply will be locked for two years, following recent incidents involving its Ethereum (ETH) bridge and an early token holder, as per the details shared with Finbold.
The measure, covering over 570 million tokens valued at around $13.2 million, aims to restore community confidence and demonstrate long-term commitment from major holders.
A framework that gives community full visibility into ownership and unlocks
The two-year lock, executed via Streamflow, will see tokens gradually vest after the holding period, with an option to re-lock thereafter. The measure follows two incidents in late September that temporarily affected WOLF’s token stability.
In the first, a contractor retained administrator access to the project’s Ethereum bridge and minted unbacked ETH-WOLF tokens, draining over $600,000 in ETH-side liquidity. The second involved an early whale selling around 2% of the supply after declining to join the community lock framework.
Wolf said both events were contained, with the bridge and token infrastructure since reinforced to prevent similar occurrences. The lock is intended to reduce sell pressure, provide visibility into token ownership, and set a new standard of transparency for the platform’s DeFi community.
Robert Freeman, CTO of Byrrgis and Wolf, said that despite the bridge having undergone a full audit, access was misused by a contractor with administrator privileges, noting:
Amy Cooksey, CMO of Byrrgis and Wolf, added:
According to Wolf, the measures reflect a broader goal to create an institutional-grade DeFi framework with clear accountability and resilience built into its design.
Featured image via Shutterstock.
Source: https://finbold.com/wolf-locks-over-half-of-total-supply-for-two-years-to-reinforce-trust/
