Coin98 is a cross-chain liquidity protocol with a full suite of products including Coin98 Wallet, Coin98 Exchange and Coin98 Bridge. The Coin98 wallet is a non-custodial, multi-chain crypto wallet and gateway, built as an infrastructure to the multi-chain future.
The protocol provides a one-stop platform for users to access the Decentralized Finance (DeFi) ecosystem, such as decentralized exchanges, lending protocols, on-chain governance (via Snapshot), and blockchain based games. Users may also perform cross-chain migration via the mobile app, which supports over 20 networks such as Ethereum, Binance Smart Chain, Solana, Avalanche and more.
The C98 token is the native utility token of the platform. The current and planned use cases of the C98 token includes:
Ecosystem development: C98 revenue from transaction fees will be sent to a treasury fund and partially set aside for future product development and ecosystem growth.
Staking: The other fraction of the treasury fund will be allocated to C98 holders who stake their tokens. The exact distribution is subject to protocol governance and may be changed.
Governance: Users may stake C98 in exchange for X98 to gain voting power and participate in the governance process to change product parameters.
Unique membership rights: Users will gain tiered benefits on the platform, depending on their X98 holdings. Some benefits include access to participate in Coin98 launchpads and retroactive incentives from strategic partners.
Coin98's platform consists of the following major components working in conjunction:
Coin98 Wallet: A multi-chain wallet allows users to store, transfer and manage crypto assets and connect to numerous dApps on multiple blockchains. It supports over 20 networks including Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche, and Terra etc on both Mobile (iOS and android) and Chrome Extension versions.
Coin98 Exchange: A multichain liquidity aggregator that helps users to swap, stake, lend, borrow, and earn crypto. It offers smart order routing for the best rates and low slippage.
Space Gate:A cross-chain bridge that enables swapping and transfers across multiple networks. It supports token migrations between the networks below:
ERC20 <-> SPL
ERC20 <-> TRC20 <-> BEP20
ERC20 <-> AVAX C-Chain <-> AVAX X-Chain
The project has raised 12.5MM USD from two rounds of private token sales, where 20.00% of the C98 total token supply has been sold at 0.025 USD / C98 and 0.075USD / C98.
As at July 21st 2021, the total supply of C98 is 1,000,000,000 and the current circulating supply upon listing will be 185,000,000 C98 (~18.50% of the total token supply).