KardiaChain’s SEA Project Highlight #3: Introducing Coin98

DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT A RECOMMENDATION TO PURCHASE ANY ASSETS. ANY PURCHASES MADE IN THE PROJECT MENTIONED ABOVE ARE DONE SO AT YOUR OWN RISK. THIS IS NOT FINANCIAL ADVICE.

Overview: Coin98 ( C98 )

• Coin98 is a cross-chain liquidity and DeFi protocol which also offers a full suite of products including SuperApp, Wallet, Exchange, Fiat Ramps, Bridges etc
• Coin98 mission is to fulfil untapped demand and enhance in-demand utilities in the DeFi space, helping people to access DeFi services effortlessly
• The C98 token is the native utility token of the platform. The project and team are based out in Vietnam.

Project Team

• Thanh Le (Founder): Serial Entrepreneur. An early investor in THORChain, Band Protocol, Alpha Finance, and more.
• Vinh The Nguyen (CEO): Co-Founder of Kytek Software, a company which helps to review and build applications.
• Khiem Dang (CTO): Co-Founder of Kytek Software, a company which helps to review and build applications.

Coin98 Ecosystem and Product Offerings

Coin98 Super App:

• Offer users essential services including a non-custodial, multi-chain NFT & cryptocurrency wallet, built-in DEXs, Cross-chain Bridge & DApp Browser within a single app
• Coin98 has integrated with multiple different blockchains and protocols, serving as one entry to access numerous DeFi services across separate blockchains
• Coin98 Super App has acquired more than 1,000,000+ users worldwide, supporting multiple blockchains, available on mobile, browser extension, and website

Coin98 Exchange:

• Coin98 Exchange is a decentralized exchange, providing users with liquidity from various sources, across multiple blockchains
• Coin98 Exchange offers smart order routing for the best rates and low slippage
• It allows users to swap, stake, lend, borrow, earn crypto, and access a variety of DeFi services in one place

Coin98 Portfolio and Market:

• Coin98 Portfolio assists you in managing your portfolios through a wallet connection without the need of importing your Private Keys
• Coin98 Portfolio currently supports 11+ blockchains in total, including Solana, Ethereum, BSC, HECO, Avalanche C-Chain, Tron, TomoChain, Near, Polkadot, Kusama, and Celo.
• Coin98 Market is similar to Coinmarketcap where users can get updates of real-time prices, as well as view the detailed information of a Token Metric from any project.

Coin98 Terminal:

• Coin98 Terminal is a powerful DeFi toolkit which includes a suite of Multi-Send, Token Issuer, Solana Migration, Wallet Approval
• They have created a very user-friendly experience which automates technical stuff like creating a token etc, without any complication

Coin98 Ventures:

• Coin98 Ventures is the venture capital arm of Coin98.
• they invest and help projects with hands-on support leveraging Coin98’s distribution influence, domain experience and crypto-building know-how
• A few famous projects invested by them are - Magin Eden, Trader Joe, Serum, and Ancient8.

Coin98 Token ( $C98 )

The C98 token is the native utility token of the platform. The current and planned use cases of the C98 token includes:

• Ecosystem development: C98 revenue from transaction fees will be sent to a treasury fund and partially set aside for future product development and ecosystem growth
• Staking: The other fraction of the treasury fund will be allocated to C98 holders who stake their tokens. The exact distribution is subject to protocol governance and may be changed.
• Governance: Users may stake C98 in exchange for X98 to gain voting power and participate in the governance process to change product parameters.
• Unique membership rights: Users will gain tiered benefits on the platform, depending on their X98 holdings. Some benefits include access to participate in Coin98 launchpads and retroactive incentives from strategic partners.

Coin98 Stablecoin ( $CUSD )

• CUSD is a decentralized stablecoin that is fully collateralized by assets in reserve.
• In order to convert to 1 CUSD, a total of $1 worth of the collateralized assets must be sent into the CUSD Reserve smart contract.
• the collateral ratio to convert to 1 CUSD will be $1 worth of fiat-backed stablecoins - BUSD (on BNB Chain) and USDC (on Solana and Ethereum).
• CUSD can be used in all the different blockchains and protocols Coin98 supports, adding interoperability.

Summary

Coin98's mission is to fulfil the untapped demand in the DeFi space and become a Gateway for TradFi users to easily access any DeFi services on multiple blockchains.

They want to do this by creating a suite of products including important defi offerings like wallet, bridges, swaps, etc and then integrating it all in one single super app.

DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT A RECOMMENDATION TO PURCHASE ANY ASSETS. ANY PURCHASES MADE IN THE PROJECT MENTIONED ABOVE ARE DONE SO AT YOUR OWN RISK. THIS IS NOT FINANCIAL ADVICE.

Researched by: Abhinav | KardiaChain