What is Ninety Eight (C98)?

The booming decentralized finance (DeFi) ecosystem makes users no longer content to trade on just a single blockchain network.

Applications emerging on different networks such as Ethereum, BNB Intelligent Chain, Solana, Avalanche and Polygon make it increasingly important to securely transfer assets between chains and manage them via a unified platform. Ninety Eight (C98) is one of the projects created to meet this need, providing multi-chain DeFi infrastructure and stands out in this space.

Ninety Eight has built a comprehensive ecosystem consisting of products such as Coin98 Wallet, Coin98 Exchange and Space Gate Bridge. The platform is designed to allow users to manage digital assets on different blockchain networks, access decentralized applications, and enable cross-chain asset transfers through a single interface. The native token C98 in the ecosystem has multiple purposes such as governance, pledge, ecological incentives, and member rights.

So what is Ninety Eight (C98)? How does it work? What are the uses of C98 tokens? Here is what you need to know about the project.

What does Ninety Eight (C98) offer?

Ninety Eight (C98) is a cross-chain liquidity protocol designed to integrate different blockchain networks under the same platform.

The core goal of the platform is to allow users to access DeFi applications on different networks through a single infrastructure. In this way, users can manage digital assets without frequently switching between multiple wallets or platforms.

The Ninety Eight ecosystem is not limited to one wallet. The platform consists of a series of complementary products, covering digital asset custody, token redemption, cross-chain transfers and various DeFi services.

Users can access decentralized exchanges, lending agreements, on-chain governance systems, and blockchain games through a single platform, while also allowing asset transfers between supported networks. According to information released by the platform, its mobile applications support more than 20 networks, including Ethereum, BNB Intelligent Chain, Solana, Avalanche and many other blockchains.

How does Ninety Eight (C98) work?

The Ninety Eight ecosystem is built on a modular structure in which different services work collaboratively.

The operating logic of the platform is based on the complementarity of multi-chain wallet infrastructure, liquidity aggregators and cross-chain bridges. In this way, users can manage their digital assets and conduct transactions on different networks.

ecosystem include:

Coin98 Wallet
Coin98 Exchange
Space Gate

These products work together to bring users 'DeFi experiences together on a single platform.

Coin98 Wallet

Coin98 Wallet is a multi-chain, unmanaged wallet solution for the Ninety Eight ecosystem.

Users can securely store, transfer and manage their digital assets while controlling their private keys.

According to information released by the platform, Coin98 wallet supports more than 20 blockchain networks, mainly including:

Ethereum
BNB Smart Chain
Solana
Polygon
Avalanche
Terra

In addition to mobile applications, this wallet can also be used as a Chrome extension and can connect to a large number of decentralized applications (dApps).

Coin98 Exchange

Coin98 Exchange acts as a multi-chain liquidity aggregator.

The platform brings together different liquidity sources and aims to allow users to exchange tokens at a better price.

In addition, users can also perform the following various DeFi operations through the same platform:

Token redemption
Pledge
Loan
Loan
Revenue acquisition

Through the intelligent order routing system, the platform aims to provide lower slip points and more favorable transaction rates.

Space Gate Bridge

Space Gate is a cross-chain bridge developed by Ninety Eight.

With this infrastructure, users can transfer digital assets between supported blockchain networks and manage assets in different ecosystems through a single platform.

Streamlining cross-chain transactions is an important part of the platform's multi-chain structure.

Outstanding features of Ninety Eight (C98)

The platform provides multiple functions designed to facilitate DeFi users to conduct transactions on different blockchain networks.

Multi-chain infrastructure

One of the most eye-catching features of Ninety Eight is its support for a large number of blockchains in the same ecosystem.

Users can manage digital assets on different networks through a single wallet and conduct transactions between these networks.

This structure provides operational convenience in particular for investors who are actively using different DeFi ecosystems.

One-stop access to DeFi apps through Ninety Eight (C98)

The platform is more than just a wallet for token transfers. Users can access the following through the same interface:

Decentralized Exchange
Loan Agreement
Snapshot Based On-Chain Governance System
Blockchain Games

This approach is designed to reduce the need to switch between different platforms.

Unmanaged structure

Coin98 wallet is designed to be an unmanaged wallet. In this model, the private key is controlled by the user, and the management of digital assets is also directly carried out by the user.

Liquidity Aggregator

Coin98 Exchange analyzes different sources of liquidity in an effort to allow transactions to be executed at better prices. Through an intelligent order routing system, the platform aims to reduce slip points and provide more competitive transaction rates.

What is the purpose of Ninety Eight (C98) token?

C98 is a native utility token for the Ninety Eight ecosystem. It is used within the platform in different areas such as governance, pledge, ecological development and various member rights.

Ecological Development

Part of the income earned by the platform through transaction fees is transferred to the treasury fund. A certain percentage of the fund will be used to fund future product development and ecosystem expansion.

Pledge

A portion of the treasury fund is allocated to users pledging C98 tokens. Allocation models can be updated over time based on governance decisions.

Governance

Users who want to participate in the platform governance process can obtain X98 by pledging C98 tokens. X98 holders have the right to vote on product parameters and various agreement decisions.

Membership benefits

The platform offers different membership levels based on X98 balance. In this membership model, users can enjoy the following privileges:

Participate in Coin98 Launchpad events
Traceability incentive plans from strategic partners
Various platform advantages

Ninety Eight (C98) Tokenology

Total supply: 1 billion C98

Initial Data

Market Value: US$13.87 million
Fully diluted valuation: US$75 million
Circulation supply: 185 million C98

Token allocation

Other: 24%
Ecological growth: 21%
Team: 20%
Community: 20%
Strategic Round: 15%

From the perspective of token allocation, the largest proportion is placed in the "Other" category. In addition, ecological growth, team, community incentives and strategic investment rounds have also received a considerable proportion of allocation. Public offerings account for 5% of total supply.

Ninety Eight (C98) Investor

Ninety Eight announced that it has received a total of US$16.5 million in investments to date. The project is supported by an extensive investor network of top venture capital funds, blockchain investment companies and incubation programs. The platform's investor list includes many institutional investors active at different stages of the cryptocurrency industry.

platform are as follows:

First echelon

YZi Labs (formerly Binance Labs)
The Spartan Group
Multicoin Capital

Second Team

Hashed
ParaFi Capital
GBV Capital
IOSG Ventures
DWG Labs
Nascent

Third Team

NGC Ventures
AU21 Capital
SNZ Holding
Magnus Capital
Kyros Ventures
Moonwhale Ventures
Kyber Ventures
Solidity Ventures
K300 Ventures
Origin Capital
Vessel Capital
BTC12 Capital

Fourth Tier

Evernew Capital
Paribus Ventures

Other Investors

Alameda Research

Ninety Eight (C98) Team

Ninety Eight team consists of people working in areas such as blockchain technology, product development, marketing, business development and brand management. The growth and product development process of the platform are driven by managers with different professional backgrounds.

The team members announced by the platform are as follows:

Thanh Le -Founder
Vinh The Nguyen -Co-Founder and CEO
Uyen Pham -Chief Marketing Officer
Pham Phuoc Nguyen -Director of Digital Operations
Minh Ho -Director of Business Development
Tris Vuong -Director of Brand

Ninety Eight provides a multi-chain ecosystem, Integrating different blockchain networks onto the same platform aims to make it easier for users to access DeFi applications. Through products such as Coin98 Wallet, Coin98 Exchange and Space Gate, the platform aims to integrate digital asset management, cross-chain transfers and decentralized financial operations on a single platform.