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About Coin98 (C98)
Coin98 bills itself as an all-in-one DeFi platform bridging multiple blockchains and traditional, centralized finance.
Trying to reach so-called "normies," the project has a robust suite of products, including Coin98 Wallet, Coin98 Exchange and its cross-chain bridge, Space Gate.
'We are building an ecosystem on top of blockchain where users with our products will have to go nowhere else," Coin98 founder Thanh Le has said.
Coin98 boasts of a growing ecosystem of accessible DeFi products, including decentralized exchanges (DEXs) and lending protocols
The C98 token is the platform's native asset used for governance. Plans for the token include having it serve as a means of payment for platform services and as a reward for staking, CoinGecko said.
The Coin98 Wallet allows users to store, send, receive, manage crypto assets and connect to numerous decentralized applications (dApps) on some 20 blockchains, including Ethereum, BSC, Solana, Polygon and Avalanche.
Coin98 Exchange is a multichain liquidity aggregator that allows users to swap, stake, lend, borrow, earn crypto with the competitive rates and relatively low slippage, CoinGecko said.
Space Gate, the cross-chain bridge, enables swapping and transferring values across multiple networks.
It supports, per CoinGecko, token swaps between ERC20 tokens, BEP20 tokens, SPL tokens and more.
In April of 2021, Alameda Research invested $4 million in Coin98 which at that time had some 200,000 users.
The user base has since grown to 5 million, the project said at the end of July.
Users are said to be more spread out now, across the globe, and the ecosystem has come to include a non-custodial, multi-chain NFT wallet and a dApp browser.
When was C98 created and how much was it worth?
The platform launched in January 2020.
Founder Le Thanh is a software engineeer who had been involved with an e-commerce start-up before advising crypto projects in Vietnam.
A Binance launchpad issue event in July of 2021 saw C98 spike from under $1 to above $6
How is the price of C98 determined?
Binance launchpad excitement helped spur C98 price appreciation during the fall of 2021 but crypto-battering macro headwinds have taken the entire market on a downward journey. Longer-term supply and demand forces will play a part in the direction of C98 price.
There is a total supply of 1 billion tokens, of which 185 million are in circulation.
Why does C98 have value?
It's used for network governance, so holders can shape the protocol's future. Holders can also earn transaction fees, and interact with the overall Coin98 ecosystem, BeInCrypto pointed out.
Were it the case that blockchain-based DeFi products become more easily accessible and, on top of that, if more cross-chain interoperability flourishes, those factors taken together could bode well for growth and for C98 value down the line.
Is C98 secure?
In March of 2022, Coin98 Labs announced it had partnered with Inspex, a leading cybersecurity firm specializing in blockchain and smart contract security, to upgrade the security of its ecosystem and perform joint security research.
What are the main benefits of C98?
- Coin98 considers itself a one-stop solution for decentralized finance, cross-chain swaps, staking, earning and yield farming. It refers to itself as “the #1 crypto super app.”
- The platform is looking to accelerate DeFi growth by making the overall blockchain experience more accessible to the public. It connects with 20 blockchains and their native assets.
What do critics say about C98?
Trends for long-term Coin98 price suggest that traders are currently bearish on the token, InvestorsObserver said.
Additionally, there are all sorts of cross-chain projects on the market, as BeInCrypto noted. "Coin98 is not unique in this regard."
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