Coin98

Coin98 (C98) is a decentralized finance (DeFi) platform that aims to be a comprehensive gateway connecting traditional finance (TradFi) users to various DeFi services across multiple blockchains. It encompasses a suite of products, including Coin98 Wallet, Coin98 Exchange, and Space Gate (cross-chain bridge), designed to facilitate cross-chain swaps, staking, yield farming, and more. The platform seeks to address untapped demand in the DeFi space, making it easier for users to manage their crypto assets and engage with the decentralized web.

• Ticker:

• C98

• Blockchain Networks:

• Ethereum, Binance Smart Chain (BSC), Solana, Polygon, Viction

• Token Standard:

• ERC20, BEP20, SPL, PRC20, VRC25

• Max Supply:

• 1,000,000,000 C98

• Circulating Supply:

• Varies (refer to CoinGecko or CoinMarketCap for current data)

• Use Cases:

• Platform service fees, staking incentives, governance, unique membership rights, product development, and ecosystem growth.

As of today #{today’s date}, the price of Coin98 is ₹12.29 INR or 0.128 USD, with a 24-hour trading volume of #{dailyVolume} USD. The market capitalization for Coin98 is NaNUSD. The circulating supply is NaN Coin98, with the total supply also being NaN Coin98.

Pros:

• Cross-Chain Functionality:

• Supports multiple blockchains, enhancing interoperability and user access to diverse DeFi services.

• Comprehensive DeFi Suite:

• Offers a wide range of DeFi products, making it a one-stop solution for users.

• Governance Participation:

• C98 token holders can propose and vote on governance proposals, influencing the platform’s development.

• Staking Rewards:

• Provides staking incentives, allowing token holders to earn passive income.

• Utility and Membership Benefits:

• Token holders enjoy various benefits, including reduced service fees and access to exclusive events.

Cons:

• Market Volatility:

• Like all cryptocurrencies, C98 is subject to market fluctuations, which can lead to significant price volatility.

• Regulatory Risks:

• The evolving regulatory landscape for cryptocurrencies and DeFi could impact Coin98’s operations and token value.

• Technical Risks:

• Potential vulnerabilities in smart contracts or the platform could lead to security issues.

• Competition:

• Faces stiff competition from other DeFi platforms and ecosystems.

• Dependence on Ecosystem Growth:

• The token’s value is closely tied to the adoption and growth of the Coin98 ecosystem.

• Innovative Cross-Chain Solutions:

• Coin98’s focus on interoperability addresses a critical need in the fragmented blockchain space.

• Robust Ecosystem:

• A comprehensive suite of DeFi products enhances user experience and utility.

• Active Development:

• Continuous updates and new features suggest a commitment to platform growth and improvement.

• Strong Community and Governance:

• Offers token holders a say in the platform’s development, fostering a strong community.

• Potential for Appreciation:

• As the ecosystem grows and attracts more users, the demand for C98 could increase, potentially leading to price appreciation.

• Multi-Chain Support:

• Unlike many DeFi platforms, Coin98 operates across multiple blockchains, enhancing its accessibility and utility.

• Comprehensive DeFi Platform:

• Offers a wide array of services, from wallet to exchange to cross-chain bridge, in one ecosystem.

• Community Governance:

• Empowers token holders with governance rights, ensuring the community has a voice in the platform’s direction.

Coin98 addresses the fragmentation in the DeFi space by providing a unified platform that bridges various blockchains, allowing users to access a wide range of DeFi services seamlessly. It simplifies the user experience in managing, swapping, and staking assets across different networks, aiming to drive broader adoption of DeFi.

Thanh Le, the founder of Coin98, has a diverse and technical background that laid the foundation for his venture into the cryptocurrency and DeFi space. Initially, Coin98 started as a research team focused on identifying investment opportunities in the crypto space. Despite the market downturn, which saw many leaving the market, Thanh and his team remained committed to blockchain technology. This commitment led him to transition from part-time to full-time, focusing on developing Coin98 into the company it is today.

• ICO Price:

• $0.075

• Listing Date:

• July 2021

• Initial Allocated Units:

• 50 million C98.

• Competitive Market:

• The DeFi space is highly competitive, with many projects vying for user attention and investment.

• Regulatory Uncertainty:

• Regulation changes could adversely affect DeFi projects, including Coin98.

• Technical and Security Risks:

• Vulnerabilities could compromise user assets and trust in the platform.

• Dependence on Adoption:

• The platform’s success relies heavily on widespread adoption within the crypto community.

• Market Volatility:

• Cryptocurrency prices are highly volatile, and C98 is no exception, posing a risk to investors.

The Coin98 whitepaper introduces Coin98 Exchange as a multifaceted DeFi platform designed to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi), making DeFi services more accessible to TradFi users. Developed by Coin98 Finance, a team of DeFi builders in Asia, the platform aims to address the fragmentation in the DeFi space by offering a comprehensive suite of products, starting with the Coin98 Wallet and followed by the Coin98 Exchange.

The Coin98 Wallet, launched in 2020, serves as the cornerstone of the ecosystem, emphasizing the importance of a multi-chain wallet engine for future multi-chain and cross-chain protocols. This wallet engine facilitates better user experiences and easier control over product implementation processes. The wallet’s success, demonstrated by significant user adoption and trading volume, set the stage for the following product in the ecosystem: the Coin98 Exchange.

Coin98 Exchange is positioned as a critical component in the DeFi landscape, where decentralized exchanges (DEXs) play an irreplaceable role. However, the current DEX market faces challenges such as sustainable liquidity and ease of use. Coin98 Exchange seeks to overcome these hurdles by offering a solution that promotes DeFi towards mainstream adoption.

A comparative analysis within the whitepaper highlights Coin98 Exchange’s unique features compared to other platforms, such as 1inch, ParaSwap, and MetaMask Swap. Coin98 distinguishes itself by supporting multiple networks/blockchains, offering a governance token, enabling cross-chain bridges, and integrating a multi-chain wallet engine. Additionally, it provides a hybrid platform accessible via mobile and web, setting it apart from competitors primarily focused on web interfaces.

The whitepaper outlines the problems Coin98 Exchange aims to solve, including the fragmentation of liquidity across multiple pools and chains, the lack of a single entry point for cross-chain bridges, and the absence of a multi-chain wallet engine. By addressing these issues, Coin98 Exchange offers a more unified and efficient DeFi experience.

The system architecture of Coin98 Exchange is designed to support these ambitious goals, with a detailed implementation plan that includes various phases to gradually introduce features and expand the platform’s capabilities.

User interface screenshots within the whitepaper showcase the intuitive and user-friendly design of Coin98 Exchange, emphasizing the platform’s commitment to providing a seamless experience for users navigating the DeFi world.

The whitepaper also introduces the C98 token economics, explaining the token’s role as a utility token within the Coin98 Exchange ecosystem. The C98 token is used for service fees, product development and growth, staking incentives, governance, and unique participation rights. These use cases are designed to create a self-sustainable, closed-loop economy within the platform, rewarding active contributors and incentivizing liquidity provision.

Token metrics are provided, detailing the total supply, ticker, and standards (ERC-20, SPL, BEP-20) of the C98 token. This information is crucial for investors and users to understand the token’s distribution and technical specifications.

In summary, the Coin98 whitepaper presents a comprehensive vision for a DeFi platform that addresses key challenges in the current ecosystem, such as liquidity fragmentation and ease of use. Through its innovative products like Coin98 Wallet and Coin98 Exchange and the strategic use of the C98 token, Coin98 Finance aims to facilitate a more accessible, efficient, and interconnected DeFi experience for users worldwide.