By Shelly Melancon (Switzerland)
Cross-liquidity token Coin98 has been listed on the Binance Launchpad and sales have kicked off. The exchange platform announced the commencement of the token sale through the use of a subscription format. Sales are slated to begin on the 16th of July and linger till the 23rd. This makes Coin98 the 20th token ever listed on the Binance Launchpad.
The cryptocurrency exchange platform would oversee the total amount of money a user can input as BNB for the seven days validity period. This estimation would be made by considering the Daily Average BNB in circulation. Investors who fulfill the eligibility criteria would be given four hours to assent to the token purchase agreement. After assenting, users would be permitted to commit their Binance Coins. A successful approval would trigger the lock of their BNB accounts which ultimately would restrict trading, withdrawals, and transfers.
User’s BNB would be deducted and the tokens released after the final token distribution on the 23rd of June at 11:00 am (UTC). After the deduction has been made from the locked BNB account, the tokens would thereafter be shifted to the user’s spot trading wallet.
What is Coin98?
Coin98 is a Decentralized Finance (DeFi) liquidity platform that offers users the leverage to explore features like lending protocols, staking, and on-chain governance. There are a lot of integrations that are available on the Coin98 liquidity platform. It features a wallet, an exchange, and a bridge. The infrastructure of the project is developed as multi-chain and offers over 20 cryptocurrencies on its mobile app including Ethereum, Binance Smart Chain, Solana, and others.
C98 is the native utility token of the liquidity protocol and its use case is very evident. Users can employ the token for voting in developments into the ecosystem, staking C98 in exchange for X98 as well as attaining membership rights. Coin98 has a total token supply pegged at 1,000,000,000 C98. 5% of the entire token supply would be allocated to the Binance Launchpad in anticipation of the main event.Â
The Benefits of C98 to Users
Instinctively, the Coin98 project is loaded with tons of use cases and it is fair to assume that they would be a lot of activity around the project soon. The features that it currently offers cuts across varying needs in the DeFi space.
However, there is more the DeFi project brings to the table including the redistribution of gas fees as incentives for active users in the protocol. The project also promises reduced gas fees that would be payable using the native utility token. Staking on the protocol would also attract incentives to the staker as well as the benefits of governance and unique membership rights.
“C98 token facilitates multiple tokenomics, serving both as governance, and utility token C98 tokenomics unites the entire Coin98 Ecosystem”, the company stated on its website. The prospect of an “always-connected” scenario is an exciting one that would help users sail effortlessly from one blockchain to another.Â
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