Coin98 is a cryptocurrency that aims to help users to navigate easier between different blockchain networks. Despite the huge advancement, the cryptocurrency industry it is still very much segmented. That is why users have to switch between blockchain networks and currencies to access available earning opportunities.
According to the Coin98 founders, this cryptocurrency project should bring all these earning opportunities together in one place.
In this article, we’ll try to explain what Coin98 is, and what makes it a good investment.
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What Is Coin98 (C98)?
The C98 liquidity protocol is a cross-chain network that has a complete suite of products like C98 exchange, C98 wallet, C98 Bridge, etc. The wallet is a multi-chain, non-custodial wallet and gateway that serves as a framework for the multi-chain future the Coin98 network is building.
So, the C98 network will offer a one-stop shop for everything DeFi like blockchain-based games, lending protocols, DEXs, and on-chain governance.
Users can also carry out cross-chain migration through the protocol mobile application that offers support to more than 20 blockchains like BSC, Avalanche, Ethereum, etc.
The Story Behind the C98 Token
It was in early 2020 that the team behind Coin98 began conceptualizing the idea of the protocol. The team made it their goal to create an open financial infrastructure, which can serve as an all-in-one solution for cross-chain swaps, yield farming, DeFi, earning, and staking. DeFi had reached new levels in terms of value and attention and the team felt it was the right time to create a new project.
The C98 protocol includes several different features to create an ecosystem where the biggest name in DeFi can co-exist. This is achieved through many integration and partnerships. Nevertheless, the three major components that drive the protocol are C98 Media, C98 Labs, and C98 Ventures. Each component works for the continuous and sustainable development and growth of the ecosystem.
It is considered the incubator and accelerator for the empowerment of new DeFi projects. The C98 ventures provide a boost for innovative projects in decentralized finance over multiple chains through investment in DApps and DeFi networks based on Binance Smart Chain, Solana, Polkadot, and Ethereum. This includes providing funds, industry-wide connections, and links for these projects, as well as offering support for early-stage blockchain companies with potential.
Furthermore, the Coin98 ventures hope to boost the adoption and growth of the DeFi industry through assisting projects and their products to penetrate the market swiftly.
The second component at the heart of the Coin98 ecosystem is Coin98 labs. It was created to help satisfy unexploited demand and improve in-demand utilities in the decentralized finance sector of cryptocurrency. To achieve this, the Coin98 labs is tasked with creating a diverse ecosystem of DApps and DeFi products across several chains. Here are some of the major products created by C98 labs:
The wallet is a cross-chain and non-custodial DeFi wallet and it’s the star prize among products to come out of the C98 labs. You can send, receive, and store your digital assets across multiple chains in the wallet. The wallet is also versatile as it can serve as a DeFi gateway to help achieve a unified user experience for every user. You can download the C98 wallet on TestFlight, Android, Apple, and Chrome.
This is the second product to be produced by the labs and its function is to help users with their asset portfolio management across several chains without the need for an import key. The C98 portfolio enables users to track their wallets on blockchains like Ethereum, TomoChain, Kusama, Solana, Near, Celo, Avalanche, Tron, HECO.
This is a cross-chain liquidity aggregator and DEX that pool together liquidity from several sources. As a result, there is secure and instant swapping of tokens with low slippage and effective order routing. Additionally, the C98 exchange allows users to lend, stake, and borrow tokens across several platforms.
This serves as a cross-chain Bridge for the facilitation of value transfer across over 20 blockchain networks and layer two solutions through the C98 ecosystem. Through the Space Gate, users can access several DeFi protocols, DEXs like SushiSwap, PancakeSwap, Uniswap, etc., and blockchains including Polygon, Avalanche, Elron, among others.
The C98 Media is the host network that links several industry partners and communities. Additionally, the Coin98 media has an array of learning tools and media resources that arm the blockchain community with the know-how for navigating the decentralized finance landscape.
C98 Media is also tasked with the responsibility of creating initiatives that encourage community engagement activities like contests for content creation.
Coin98’s Key Features
These are the key features of the Coin98 network:
This feature enables the distribution of transaction fees to the Coin98 Revenue that serves as the platform fund. It is more like savings reserved for the future development and growth of the network.
Another feature on the Coin98 network that allows wallet holders to transfer different assets across several chains by swapping.
The feature allows users to lock their digital assets and earn rewards. Users that stake their Coin98 token can participate in platform governance and vote on proposed changes to the network.
Featured Membership and Unique Rights
This feature qualifies users for incremental benefits in line with the amount of Coin98 tokens that they have. Token holders are put in a tiered system that offers accessibility to a list of premium events and exclusive privileges including Launchpad events, airdrops, marketing events, priority for token sales.
Users are organized into tiers by the amount of Coin98 tokens they hold. Also, those with more tokens are put into higher tier and consequently have access to greater rewards and privileges.
Coin98 Backers and Strategic Partners
The Coin98 network was able to raise $1.25 million in seed funding through the Coin98 labs. Here is the list of backers for the C98 network:
The blockchain and DeFi focused ParaFi Capital is an alternative investment firm backing the Coin98 protocol.
Spartan Group: A leading Asia-based asset management and blockchain advisory company. It was established by former Goldman Sachs alumni. The company can count top blockchain projects like Blockfolio, Dapper, Solana, etc. among its portfolio.
There is also Hashed, which is an early-stage venture fund comprising talented team members from Silicon Valley and Seoul.
Multicoin Capital: It is an Investment firm focused on crypto investments and the company manages assets worth billions across several venture funds and hedge funds.
The C98 token’s strategic partners include Coingecko, Binance, and Kyber Network.
The C98 Token Basic Info
The native token of the Coin98 ecosystem is called the C98 token and is seen as a crucial part of the ecosystem. The C98 token is launched on three different chains, which are Solana, Binance Smart Chain, and Ethereum. The C98 token has several functions such as allowing token holders to earn a share of transaction fees, unique membership discounts on several products and services, staking, and much more.
In addition, token holders can participate in protocol governance through voting on proposed changes or submission of proposals for changes to the system.
According to CoinMarketCap, the price of the Coin98 token is $3.70 with a daily trading volume of $85,213,462 as of October 23, 2021. It is currently ranked number 222 and it has a market cap of $685,371,895 with a circulating supply of 185,000,000 coins. The maximum supply is 1,000,000,000 C98 tokens.
The Coin98 token was distributed across the network in the following manner:
- 21% ecosystem development and growth.
- 20% community development.
- 20% team.
- 15% strategic sale.
- 12% treasury.
- 5% seed sale.
- 5% Binance Launchpad sale.
- 2% advisors.
Is Coin98 a Good Investment?
Going by Wallet Investor’s forecast, the Coin98 token is labeled an awesome long-term investment over 1 year. A $100 investment could be worth $1674.81 by 2026 giving investors a revenue gain of +1574.81%. The C98 price prediction by Wallet Investor shows that the token could reach a maximum price of $63.158 by December 2026.
Going by the current data available to Wallet Investor, the C98 token and possibly its market environment looks bullish over the past 12 months. Its AI analyst suggests a positive outlook for the C98 cryptocurrency in the future, which could make it a good addition to your portfolio.
According to Cointobuy’s analysis, the price of the C98 token could reach $6.17 in a year to give investors an expected profit of +68%.
The C98 ecosystem has portrayed itself as a hub for DeFi that unites several top DEXs to create a gateway for vast cross-chain liquidity. Furthermore, the diverse range of decentralized finance services and tools that users can find on the Coin98 protocol provides a complete set of lending, liquidity, and borrowing protocols.
Also, the work of the C98 Labs has allowed the platform to provide backing to new and exciting projects by injecting resources necessary for the acceleration of mass adoption of crypto and DeFi. Furthermore, users can benefit from the features offered by the C98 protocol such as multi-chain liquidity aggregation, staking, token swap, and much more.
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