What Is Coin98 (C98)?
C98 is the native token of Coin98, which is a DeFi platform that allows users to lend, borrow, stake, swap, and invest crypto assets. In order to achieve that, Coin98 has its own exchange, wallet, portfolio, and a cross-chain bridge called Space Gate. Take a look at the Coin98 price chart above to see the live C98 price.
Coin98 Exchange, the core of the Coin98 ecosystem, is a multi-chain liquidity aggregator. The users of Coin98 Exchange can trade various crypto assets that run on several blockchains.
Coin98 Wallet enables users to store, manage, and carry out cryptocurrency transactions, as is the case with the majority of crypto wallets. However, users can move their funds across several blockchains since it is a multi-chain wallet. Besides, the Coin98 wallet is available as a web wallet, an extension wallet, or a mobile wallet.
In terms of the Coin98 Portfolio, it enables users to manage portfolio assets across many blockchains without the need for an Import Key.
Lastly, the Space Gate is essentially a bridge that connects different blockchains and allows the aforementioned multi-chain swapping. Thanks to the Space Gate, the Coin98 crypto project supports over 20 different blockchains.
The Story of Coin98
The Coin98 crypto project was founded by Thanh Le and Vinh The Nguyen. It was released in 2021 as a Binance Launchpad project.
The idea of developing Coin 98 started in 2020. The Coin98 team made a goal of creating an open financial infrastructure. They essentially wanted to create an all-in-one solution for DeFi, cross-chain trading, staking, and yield farming.
Talking about the founders, prior to developing Coin98, Thanh Le was an embedded system engineer. He co-founded a company with his friends that offered software engineering services to other businesses. He also co-founded an online store that collaborated with Alibaba and offered goods on Amazon.
Considering Vinh The Nguyen, in the past, he was a software engineer at FPT Software HCMC. In addition to that, he co-founded VIC Group, which was Vietnam's biggest cryptocurrency research and investment community in 2017. Besides, he also manages Kytek and Cyber Networks.
The Purpose of C98 Tokens
In essence, C98 is a utility token of the Coin98 crypto project. The C98 token comes in three types of token standards – ERC-20 for Ethereum, BEP-20 for Binance Smart Chain, and SPL for Solana. The following are the main use cases of Coin98:
- It can be used to cover transaction fees.
- It can be staked in order to earn staking rewards.
- Coin98 token stakers can participate in the governance process and vote on various decisions concerning the Coin98 project.
- Coin98 holders are provided with unique membership rights that include various rewards, participation in exclusive events, and other privileges.
Besides, don't forget to check the Coin98 price chart to see the current (or previous) C98 price.
Tokenomics of C98 Tokens
The max supply of Coin98 coins is 1 million. In terms of C98 token distribution, 61% of the supply was dedicated to the growth of the ecosystem (21%), the development of the community (20%), and the Coin98 team (20%). The remaining portion was dedicated to the strategic, seed, Binance Launchpad sales, Coin98 Treasury, and project advisors.
Though keep in mind that the volatility of the entire crypto market tends to influence the value of a huge variety of crypto assets, which also includes the C98 price. Therefore, you should analyze the Coin98 price changes if you plan to invest in this token.