Have you watched the movie Lord of the Rings? One ring that controls all the rings. Well, that’s the story of Coin98. It’s a multichain platform with wallet, exchange and bridges that connects to everything you need in a crypto platform. From token swapping to trading NFTs, Coin98 aims to become the hub for everything cryptos. Launched with its own native token and rewards, Coin98 wallet can be the new MetaMask killer. It’s time we take a look into its features and everything it offers to the users –
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Table of Contents
2.2 Coin98 Exchange 2.3 Space Gate 2.4 Coin98 Portfolio 2.5 Coin98 Markets 2.6 Coin98 Terminals 3.2 Staking 3.3 Transaction Fee 3.4 Premium Membership Rights 6.2 Coin98 Ventures 6.3 Coin98 Network 7.2 All-in-one Ecosystem 7.3 Negligible Competition 7.4 Multichain 8.2 Too much Noise |
What is Coin98?
Coin98 is a multi-purpose DeFi platform that connects TradFi users with DeFi services on multiple blockchains. Based in Vietnam and powered by Coin98 Labs, it is a platform that gives users access to the complete DeFi ecosystem such as DEXes, governance, lending and cross-chain transfer on over 20+ layer1 and layer2 blockchains like Avalanche (AVAX), Fantom(FTM) and more.
Being busy is a choice
— Coin98 Super App (Formerly Coin98 Wallet) (@coin98_wallet) September 3, 2022
Getting stressed is a choice
Welcoming a better experience is a choice
Choose a happy weekend with Active Blockchains 💫
Spend seconds making you and your "treasure keeper" more relaxed ☺️. pic.twitter.com/E6lklSJt7X
Within 2 years of inception, it has surpassed over 1 million users and 3 million transactions. By supporting DAPPS on multiple chains, it has become one of the fastest-growing platforms in the crypto space.
SafePal wallet is one of its competitor
Coin98 Products:
The platform has a bundle of product offerings that can be clubbed into three essential entities –
Coin98 Wallet:
Like MetaMask or Ledger wallet, Coin98 wallet allows users to store, send, receive and swap crypto assets. It can connect a number of Dapps and is compatible with the leading blockchains like Terra (LUNA), COSMOS (ATOM) and more.
Coin98 Exchange:
Like top DEXes i.e Uniswap, Sushiswap etc, Coin98 exchange is a multichain liquidity aggregator that allows users to swap crypto assets across multiple blockchains using its wallet. Moreover, users can stake, lend, borrow and earn cryptos at the lowest rates and low slippage cost.
Space Gate:
Space Gate is a multichain bridge that offers layer 2 transfer of tokens from one blockchain to another by swapping them on the coin98 exchange.
Coin98 Portfolio:
Coin98 assist users in managing their crypto portfolio across blockchains via wallet connection without importing private keys. It allows you to view your complete portfolio in one place by presenting the data in the form of intitutive graphs.
Coin98 Markets:
Markets help users get the real-time price of all crypto coins in one place. In this feature, users can view the detailed information of the coin and visit the homepage of the project.
Coin98 Terminals:
Coin98 platform offers different toolboxes to help users navigate across the DeFi services with ease. Token Issuer, Blockchain explorer are some of the popular tools in the Coin98 ecosystem.
What is C98 Coin?
C98 is the native token of Coin98 platform. It has the following utilities –
- Governance
- Staking
- Transaction Fee
- Premium Membership Rights
The total supply of C98 token is capped at 1 billion
Governance:
Coin98 will allow C98 token holders to participate and vote on governance proposals to determine the future direction of the project.
Staking:
Staking is a rewarding system for C98 token holders. Coin98 staking offers fixed interest rates divided into three different options based on the amount of C98 staked and the time duration, shared below –
The earning from staking is directly transferred to the user’s Coin98 wallet. If a user unstake before the expiration date, he will be entitled to receive only 2.0% of the fixed interest rate, irrespective of the plan.
In addition to staking, Coin98 offers exclusive NFT staking cards to anyone who stakes C98 tokens. There’re nine classes of staking cards and each staking plan issues a unique NFT.
The NFT card is the proof of staking
Transaction Fee:
C98 token is also used to pay for the platform transaction fee. The collected fee will be redistributed as incentives to the participants for their active contribution to the Coin98 ecosystem or put aside for future developments of the ecosystem.
Premium Membership Rights:
Coin98 will sort the token holders based on the amount of C98 tokens held by them in the wallet. It will further segregate them into different tiers. Users with the highest amount of tokens will get premium access to coin98 events and special privileges like launchpad participation, marketing events etc.
C98 Token Distribution:
Coin98 is focused on ecosystem and community growth. That’s why a large part of the token share i.e 45% is allocated to the ecosystem and community. The complete token distribution can be seen from the image shared below –
Coin98 IEO:
Coin98 announced the public sale of C98 tokens on Binance Launchpad in July 2021. 50 million tokens were offered at a sale price of 0.075 USD with no lockup period. Further details are shared in the following table –
Coin98 Ecosystem:
The Coin98 Finance has three arms –
- Coin98 Labs
- Coin98 Ventures
- Coin98 Network
Coin98 Labs:
Coin98 Labs is an open infrastructure financial service builder focused on creating and developing the complete DeFi protocols, NFTs and applications on multiple blockchains. Their aim is to help users access DeFi services effortlessly.
Coin98 Ventures:
Coin98 Ventures is the investment arm of Coin98 Finance with the mission to bootstrap DeFi ecosystem across blockchains. It invests in potential DeFi protocols on various L1 chains like Solana, Ethereum etc. and helps them establish the right connections & resources.
Coin98 Network:
As the name suggests, Coin98 Network is the network building arm of the Coin98 ecosystem in terms of industry connections, community and PR.
Coin98 Benefits:
Audited:
From Coin98 Wallet to Coin98 token, the ecosystem is audited by top audit firms like Certik & Peckshield, adding a layer of trust to the complete project.
All-in-one Ecosystem:
Coin98 is one of a kind ecosystem. From DeFi services to wallet, it offers a range of products within its ecosystem. A user doesn’t have to run from protocol to protocol. Be it storing, swapping, sending, staking or receiving tokens, there’s one single super app that does all the work.
Negligible Competition:
As of now, Coin98 doesn’t have any challenger. It is one of a kind project that does all the work seamlessly.
Multichain:
The platform integrates 20+ blockchains and provide users with a wider space for trading and swapping tokens using its exchange and bridges. You can convert ERC20 to BEP20 or make a swap from ERC20 to SPL tokens with ease.
Coin98 Drawbacks:
Unknown Team Members:
After navigating through the website, I didn’t find a single drop of information about the team members. There’s no clue who they are and their expertise in the blockchain space. Although from their Twitter handle it’s clear the project is based in Vietnam which reminds me of the founders of Axie Infinity blockchain game.
Too much Noise:
Although the services provided by the platform are amazing but at the same time, it’s too much to digest for a crypto user. It may not be easy to handle every piece of information there’s on the platform, especially for beginners.
C98 Coin Price:
Please check the latest C98 coin price, shared below –
C98 Coin Price Prediction:
Launched in 2021, C98 had a solid start. It reached an all-time high of over $6 in the bull run and later crashed in the bear market. Thanks to the Russian invasion of Ukraine, the market has failed to recover in a long time.
C98 is currently bouncing in the price range between $1- $2 and may further decline if the bear market continues for a prolonged time. Coming to the fundamentals, C98 value is directly proportional to the number of active users on the platform. More users will drive the demand of C98 tokens, subsequently the price.
The coin has responded very well in the last bull run, which indicates good volatility and demand. C98 has a clear use-case from governance to rewards distribution. The project has already amassed over 1 million users and it doesn’t seem to stop there.
It would be fair to say, C98 has the potential to hit and surpass $10 price point in the upcoming bull run. Though the technical chart looks bearish, that is because of the complete market meltdown. It will bounce back once the rally beings.
Where to buy C98 Coin?
Coin98 can be bought from the top decentralized and centralized exchanges like Pancakeswap, Binance, FTX and more. The liquidity on the top platforms is well spread and make buying and selling C98 tokens a smooth process.
This complete my review of Coin98 platform. In the next post, I will talk about YOUR NFT Marketpalce & MIRL NFT Fashion. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
DISCLAIMER:
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
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Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.