Binance Announces Coin98 (C98) Token Sale on ItsLaunchpad

UTC by Kofi Ansah · 3 min read
Binance Announces Coin98 (C98) Token Sale on ItsLaunchpad
Photo: Binance / Twitter

The Total token supply is 1,000,000,000 (C98) with 50,000,000 C98 (5% of Total Token Supply) being allocated to Binance Launchpad.

Binance has announced the sale of Coin98 (C98) on its Binance Launchpad. The Coin98 token sale is now the 20th project on the Binance Launchpad and will make use of the Launchpad subscription format, with the recording of user BNB balances starting on July 16 at 0:00 AM (UTC), through to July 23.

The format according to a Binance official will see the crypto trading exchange decide the maximum or final amount of money each user can put into BNB for seven days based on the Daily Average BNB calculation which was previously announced by the company. The expected exchange rate of 1 C98 token is $0.075 although Binance will announce the actual exchange rate before the launch of the token.

The Total token supply is 1,000,000,000 (C98) with 50,000,000 C98 (5% of Total Token Supply) being allocated to Binance Launchpad. Subscription will open for all eligible users for 4 hours with users mandated to sign the Token Purchase Agreement at the same time, before committing to their BNB. BNB accounts of users will be locked once a user commits and will only be accessible for trading, withdrawals, and transfers after the final token distribution.

Final Token Distribution will take place on July 23 at 11:00 AM (UTC), which will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. After deduction, C98 and BNB tokens will both be transferred to users’ spot wallets.

Coin98 is a cross-chain liquidity protocol that makes use of the aggregation of the Internet by the innovation of Multi-chain Engine, fully Automatic Liquidity, and Space Gate. The protocol provides a full suite of products including Coin98 Wallet, Coin98 Exchange, and Coin98 Bridge, and enables an easy value transfer.

The C98 token is the native utility token of the platform whiles the Coin98 wallet is a non-custodial, multi-chain crypto wallet and gateway, built as an infrastructure to the multi-chain future. The Coin98 protocol provides a ‘one-stop’ platform for users to access the Decentralized Finance (DeFi) ecosystem, including lending protocols, decentralized exchanges, blockchain-based games as well as on-chain governance (via Snapshot). Users of the platform can also undergo cross-chain migration through the mobile app, which supports more than 20 networks including Ethereum, Binance Smart Chain, Solana, and Avalanche.

“With the distinctive multi-chain wallet engine as its core, Coin98 Wallet provides the “always-connected” experience, supporting users to access numerous DeFi services across separate blockchains seamlessly and concurrently. Users can also transact tokens with optimized gas fees and manage multiple digital assets simultaneously on Coin98 Wallet”, the company wrote on its official website.

“C98 token facilitates multiple tokenomics, serving both as governance, and utility token C98 tokenomics unites the entire Coin98 Ecosystem,” they added.

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