What is Coin98? The 20th Project On Binance Launchpad
Binance has announced the launch of Coin98 (C98). The exchange will use the lottery to issue C98, the time to record users’ BNB balance will for 7 days from 2021-07-16 0:00 AM (UTC) to 2021-07-23 0:00 AM (UTC).
What is Coin98
Coin98 is a cross-chain liquidity protocol that aims to be the gateway from Traditional Finance (TradFi) to Decentralized Finance (DeFi). The protocol achieves this by building a full suite of products including Coin98 Wallet, Coin98 Exchange and a cross-chain bridge (Space Gate) to migrate tokens across networks.
- Coin98 Wallet: A multi-chain wallet allows users to store, transfer and manage crypto assets and connect to numerous dApps on multiple blockchains. It supports more than 20 networks including Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche, and Terra etc on both Mobile (iOS and android) and Chrome Extension versions.
- Coin98 Exchange: A multichain liquidity aggregator that helps users to swap, stake, lend, borrow, and earn crypto. It offers smart order routing for the best rates and low slippage.
- Space Gate: A cross-chain bridge that enables swapping and transfers across multiple networks. It supports the swap of tokens between:
- ERC-20 <-> SPL
- ERC-20 <-> TRC-20 <-> BEP-20
- ERC-20 <-> AVAX C-Chain <-> AVAX X-Chain
Key Features and Highlights
- Token Name: Coin98 (C98)
- Launchpad Hard Cap: 3,750,000 USD
- Hard Cap Per User: 20,000 USD (266,666.667 C98)
- Total Token Supply: 1,000,000,000 C98
- Total Tokens Allocated to Binance Launchpad: 50,000,000 C98 (5% of Total Token Supply)
- Public Sale Token Price: 1 C98 = 0.075 USD (price in BNB will be determined prior to subscription)
- Token Sale Format: Subscription
- Supported Sessions: BNB only
- Preparation Period 2021-07-16 0:00 AM (UTC) to 2021-07-23 0:00 AM (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a 7-day period. Your final average daily BNB balance over these 7 days will determine the maximum amount of BNB that you can commit later on.
- Subscription Period 2021-07-23 6:00 AM (UTC) to 2021-07-23 10:00 AM (UTC): Subscription will open at this time for all eligible users for a 4 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.
- Calculation Period 2021-07-23 10:00 AM (UTC) to 2021-07-23 11:00 AM (UTC): Subscription closes and token allocation calculation begins.
- Final Token Distribution 2021-07-23 11:00 AM (UTC): Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your C98 and BNB tokens will both be transferred to your spot wallet.
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