Deep Dive into Coin98
All-in-one DeFi Platform
Problem Brief
The DeFi ecosystem buzzes with a hive of activities, with users doing everything from lending to borrowing, swapping to staking, market analysis to portfolio management. Various innovations and projects are sprouting daily. It is quite exciting!
But here is the problem: these DeFi activities spread across various platforms and Decentralized Applications (DApps). This fragmentation forces users to juggle multiple platforms, each operating on different blockchains, just to execute routine DeFi tasks.
We all know that feeling when we have to hop from one platform to another, dealing with different interfaces and blockchains, to do regular DeFi stuff. Pretty exhausting, right?😮💨
Well, here is where Coin98 swoops in as the DeFi superhero 🦸 and creates an all-in-one DeFi platform that's a game-changer.
Imagine having all your DeFi needs met in one place, on a single platform. No more switching between websites and DApps to swap your tokens or track your assets; no more confusion with multiple blockchains—just a straightforward, unified experience. All this and more is DeFi with Coin98.
This article will comprehensively explore Coin98, the ecosystem, products, how to use the products and their upcoming projects.
Let’s dive in. Shall we?
Origin of Coin98
Coin98 originated in October 2017 when the founder, Thanh Le, established it as an educational YouTube channel to share cool crypto stuff.
After a lot of research, the founder, Thanh Le, transformed Coin98 into a full-fledged product development business, renamed it Coin98 Finance, and assembled a team between June 2018 and June 2019.
Soon after, the team launched its first product, the Coin98 wallet, and then the Coin98 exchange.
The journey reached a turning point with the creation of the Space-Gate cross-chain bridge, responding to users’ demand for seamless token conversions across different chains.
In November 2023, Coin98 Finance rebranded into Ninety Eight, indicating that Ninety Eight now has a more noble purpose and a wider vision, allowing for the development of new abilities beyond its original focus on finance.
Currently, Ninety Eight has over 9 million users across 170 countries and is constantly championing mind-blowing innovations in the DeFi space.
Introducing Coin98
Doctor Strange introduces the all-in-one DeFi Platform, Coin98, some capabilities, and some supported blockchains.
Coin98 is a multichain, all-in-one DeFi platform. It functions to provide for all its users’ needs in the DeFi space.
Coin98 is more than just a DeFi platform; it serves as a gateway from traditional finance to decentralized finance, providing a smooth experience for DeFi newbies and natives.
By being the one-stop DeFi platform that seamlessly interacts with various blockchains, Coin98 is at the forefront of onboarding the next billion users into the Web3 space.
Coin98 Team
With the initial target being the Vietnamese Crypto market, it is no surprise that the entire staff of Coin98 is from Vietnam
The two core members of Ninety Eight are:
Mr. Le Thanh: The founder of Ninety Eight. With a background in engineering, he graduated from the University of Science in Vietnam. He has a vast amount of experience in the blockchain industry and has also served as an advisor to various national and international crypto projects.
Mr. Nguyen The Vinh: CEO and Co-Founder at Ninety Eight, joined the company in 2019. With a background in software engineering, he previously cofounded VIC Group, a cryptocurrency investment startup, and was one of the young luminaries featured in the Forbes Under 30 Asia list of 2022.
Coin98 Ecosystem
Coin98 is a large ecosystem that comprises various arms that enable a wide range of services.
The 3 major pillars of the ecosystem are:
Coin98 Labs: The product arm of the ecosystem
Arche Fund (formerly Coin98 Ventures): The investment arm of the ecosystem.
Coin98 Network: the pillar that powers Coin98 industry connections, community, and media.
Coin98 Labs
Coin98 Labs is a robust engine room that powers various products. This is the arm of Coin98 that is focused on developing DeFi applications and protocols across different blockchains.
Over the past six years, Coin98 Labs has developed several innovative DeFi products, and there are still many more to come.
Let’s talk about each of these products🦜
Starting with the Coin98 Super App
Remember China’s WeChat App? 🤔 The one that allows its users to chat with each other, pay utility bills, stream videos, book travel tickets, and do countless other things from a single app.
The Coin98 Super App is a DeFi version of that app. It is also known as the Crypto Everything App. The Coin98 Super App offers its users all the essential services of DeFi, with the goal of connecting one billion users to a safe and secure world of cryptocurrency.
It provides a non-custodial, multichain NFT and crypto wallet that gives users full control over their assets and allows them to store, manage, and transfer their crypto assets across 80+ blockchains.
Additionally, the app integrates with decentralized exchanges across different blockchains for easy crypto trading and incorporates a DApp browser to allow users to seamlessly interact with various DApps.
Furthermore, the Coin98 Super App houses advanced features like Social Login, a special Zen Card for security, Wallet Approval for controlling token access, and Multi-Sender for sending tokens to multiple addresses simultaneously.
The Spacegate Cross-Chain Bridge is another mind-blowing feature, as it allows users to conveniently swap tokens from one blockchain to another. Think of it as a special bridge that connects different blockchains, making transactions faster, cheaper, and more secure.
Currently, the Coin98 Super wallet boasts a user base of over 8 million users across 170+ countries. This widespread user base reflects the platform’s success in appealing to a diverse and international audience.
The growth is truly remarkable, as the Super App continues to serve as the gateway to the different DeFi services across multiple blockchains.
How to Create a Coin98 Multichain Wallet
Get the Coin98 Super App from Apple Store or Google Play Store
Open the app and click on "Manage Wallets."
Tap the little plus sign at the top right corner to add a new wallet.
Pick the type of wallet you want – like a Hot Wallet. There are other choices too, like Social Wallet, Zen Card, Hardware Wallet, or Watch-only if you just want to keep an eye on things.
Choose Multi-Chain, and then hit the Create button.
Give your wallet a name and click Next.
You can pick a different Seed Phrase Type by clicking the icon at the top right. Coin98 lets you choose between 12 words and 24 words, but it starts with 12 as the default.
The system will create a Passphrase (that's just a fancy word for a bunch of words). Write them down carefully, and keep them safe.
Type the Passphrase again to make sure you got it right.
Read the warnings, and if you understand the risks, check the three boxes.
Tap "Create Wallet" to finish the process. Easy peasy!
You can now access your wallet from the Manage Wallet section.
Coin98 Exchange, a fantastic tool
Coin98 Exchange is a decentralized cross-chain liquidity aggregator that offers a solution to the challenge of blockchain fragmentation.
The infographics below show how straightforward and hassle-free the Coin98 exchange solution is.
With this solution, even newbies can navigate the space effortlessly, without the hurdles posed by the fragmented chains.
Currently, the product has integrated liquidity sources on 8 blockchains, such as Ethereum, BNB Smart Chain, Polygon, Avalanche C-Chain, KCC, Fantom, Boba Network, and Heco Chain, supporting users in trading on multiple chains in the Coin98 product.
The latest version of the product is the Coin98 Exchange 2.0.
In this version, users get to enjoy:
Simple and friendly interface
Optimized gas fee
Ability to adjust gas fee by tweaking the gas bar
Faster transactions
Trading on multiple chains with the best prices and lowest slippage.
The image above shows a comparison between Coin98 Exchange and other decentralized exchanges. Here, Coin98 stands out as the top choice, offering different blockchain options, a governance token, a cross-chain bridge, a multi-chain wallet, and a hybrid platform (mobile app and website).
It's not just an exchange; it's the smart choice in DeFi trading.
To try this amazing tool, check the Coin98 Exchange
Moving on to the next product, Coin98 Portfolio
Coin98 Portfolio is a powerful portfolio tracker that allows users to monitor their financial assets on a connected wallet address.
Users have the opportunity to keep track of their cryptocurrencies, tokens, and NFTs across various blockchains without having to open multiple browsers or portfolio trackers.
Why is the Coin98 portfolio top-tier?
Coin98 Portfolio supports over 10 blockchains, including Ethereum, Solana, BNB Smart Chain, HECO Chain, Avalanche, Near, Polkadot, Celo, Tron, C-Chain, TomoChain, and Kusama.
Therefore, users can track and monitor their assets on all these blockchains, just from the comfort of the Coin98 Portfolio.
The image above presents an aesthetically pleasing portfolio dashboard that shows the ‘total balance’ on the top-left part, the ‘balance chart’ on the top-right part, and the ‘asset portfolio’ on the bottom part.
This platform not only displays a portfolio; it also presents the actual prices or value of your assets as market prices fluctuate.
The cryptocurrency market is highly volatile, and the prices of crypto assets change as the market swings.
Coin98 Portfolio provides you with the current values of your assets, so you don’t have to manually track them.
Amazing right? 😀
A click on any of the assets listed on the page in the image above presents real-time data such as market cap, 24H volume, circulating supply, maximum supply, 24H low/high, and all-time low/high.
In the topmost part of the page in the image above, there is a swap button that allows users to exchange coins or tokens instantly.
Coin98 Market, a crypto data tool
Coin98 Market is a DeFi analytics tool that comprehensively provides real-time, detailed, and important market data, helping users follow market trends and make informed, data-driven decisions in the crypto market.
As of the time of this writing, this tool has information for 12,674 cryptocurrencies across 933 exchanges.
The Coin98 Market homepage, as shown in image ix above, gives an overview of the assets listed on the platform.
Section annotated 2 gives information on the number of cryptos and exchanges listed, the total market cap, the 24H volume, Ethereum dominance, and Bitcoin dominance.
From part annotated 1, you can filter the tokens by rank, market cap, and volume.
You can also search for any token of your choice by using the search bar (labeled 3).
Scrolling down the page presents you with market metrics for the various tokens.
When you click on any of the tokens, a new page comes up, as shown in the image x below.
This page on image x above presents an extensive analysis of the token selected—in this image, the Coin98 native token, C98.
It shows the current value of the token, a chart that presents the price action and market cap over a selected duration of time, and other important metrics.
With this insight, DeFi users can make informed decisions.
On the right side of the page, you can check the conversion rate of the token and overall price statistics.
A scroll down the page will take you to the news and information sections.
This information section provides users with the token’s official links to the communities, website, explorer, and source code, thereby preventing them from being scammed.
Check out Coin98 Market to get into the nitty-gritty of the tool.
You’ve probably noticed already that Coin98 also has a native token! Don’t worry, we’re getting there🚶.
Next up is the Coin98 Terminals
The Coin98 terminal is a powerful toolbox that houses several key features, like
Multi- sender
Token-issuer
Solana Migration
Wallet Approval
Token Issuer
The token issuer tool enables users to issue tokens on any blockchain without any programming skills.
FYI, token issuance is the process of creating new tokens that are added to the total supply of a cryptocurrency.
If you are building a blockchain project and need to create a token, or if you just want to create a token for fun, you will need a lot of technical knowledge.
However, with Coin98 Token Issuer, you can create tokens with a few clicks of a button.
You can customize your token by selecting a blockchain, naming it, adding a picture, and specifying the total circulating supply, burnt volume, and mint volume.
Want to issue your tokens, Learn how here
Muitisender
This is a super cool feature that allows users to send tokens, or NFTs, to multiple wallet addresses at once.
Imagine you need to send tokens to hundreds of addresses and have to perform each transaction one by one. It could be tiring, right?
That’s where Coin98 Multisender comes in. This tool has a user-friendly and simple-to-use interface to perform large numbers of transactions simultaneously in the most stress-free way.
Solana Wallet Migration
Solana Wallet Migration is a tool that helps users combine their fragmented SPL (Solana Program Library) tokens into a single SOL (Solana) wallet address.
This is necessary because SOL addresses and SPL addresses are different, and if users mistakenly send SPL tokens to a SOL address, the network will create a new SPL address instead of using the existing wallet.
Note that you can only use the tool when you have tokens spread across different SPL addresses in the same Solana wallet. It cannot be used to migrate SPL tokens between different Solana wallets.
Wallet Approval
Wallet Approval is a crucial tool for user security. It helps users revoke token allowances from dApps on all supported blockchains.
Token allowance is the process by which you allow your tokens to be used to complete a transaction.
When you use dApps for trading, farming, staking, etc., you typically have to let the dApps interact with your assets.
Wallet Approval can be used to cancel the access of the dApps to your tokens.
Other Products
Beyond its core products, Ninety Eight has ventured into acquiring, developing, or sponsoring various other products and projects to strengthen the ecosystem and boost the value accrual of the C98 tokens.
Let’s briefly discuss these products.
Viction Blockchain: Viction Blockchain is a Layer 1 blockchain built by the Ninety Eight team. It was recently rebranded from Tomochain and it serves as the foundation for building products in Ninety Eight. One notable feature of the Viction chain is the Zero Gas Fee mechanism, which allows users to transact on the chain without the need for VIC tokens for gas fees. This innovation further promotes the widespread adoption of Web3.
Coin98 Dollar: Coin98 Dollar, now known as CUSD, is a stablecoin on the Viction blockchain, backed 1:1 by the US Dollar. It's easy to convert between CUSD and USD without fees. It's a safe asset in crypto market volatility and facilitates transactions within the Viction ecosystem and across blockchains.
Ramper: Ninety Eight acquired the product, Ramper in March 2023. Ramper is a Web3 wallet with easy social login and no need for complicated passphrases. It's user-friendly for Web3 beginners, acting as a simplified version of Coin98 Super Wallet. Though less secure due to social login, users may transition to Coin98 as they gain Web3 experience.
Zen Card: Zen Card, a hybrid hardware wallet, enhances asset security with encrypted private keys split between Coin98 Super Wallet and Zen Card hardware. Its affordable price, 20–25 USD, makes it accessible, enhancing storage, management, and security for widespread cryptocurrency use in the market and Web3.
Saros Finance: Saros is an ecosystem Ninety Eight is developing. It is a decentralized exchange (AMM DEX) built on the Solana blockchain in 2021.
Brayon Network: Brayon Network is another ecosystem that is a key focus for Ninety Eight. It is a multi-chain Defi platform like Coin98 that offers swapping, staking, and farming options and operates on three blockchain networks: BNB Chain, Viction, and Bitkub Chain.
GameFi: In 2022, Ninety Eight made key moves in GameFi, acquiring Yunero Studios, a 2021 game studio, and Cyball, a Web3 game with 20,000 daily users. Yunero brings gaming expertise, while Cyball offers competitive online play.
Ninety Eight plans to enhance existing projects, introduce new features and financial elements, and foster innovation through the Ecosystem Fund, and a hackathon contest.
Dagora: Dagora is a multi-chain NFT marketplace developed by Ninety Eight that lets users trade and launch NFT collections. It hosted successful sales for Pyra Aliens, Watda F*sh, and SeiMyName in 1–3 days. Users can mint and list NFTs for free, with a 2% transaction fee. Dagora boosts the C98 token utility, serving as a marketplace, launchpad, and Hot Drops platform within the Ninety Eight ecosystem.
Starship: Starship, Ninety Eight's decentralized launchpad, lets projects raise funds by selling tokens. Rigorous quality checks ensure user and investor protection. It's a platform for fairness, providing flexible access to new projects. Users can also get a "Starship Membership NFT" as a ticket for launchpad participation.
OneID: OneID is a multi-chain digital identity solution built by Ninety Eight on the Viction blockchain. Users can buy a single ID for use across various wallets and blockchains, simplifying dApp interactions. Ninety Eight has plans to improve OneID features and incorporate KYC for IDs in the future.
SuperLink: SuperLink is an Aggregator SDK service by Ninety Eight, that provides an advanced toolkit for combining different DEX Aggregators. Using a unique algorithm, it queries and compares liquidity from exchanges like 1inch, ParaSwap, and 0x to offer users the most efficient trading routes.
FrontierDAO: Ninety Eight sponsors the project, FrontierDAO, which supports the creation of a Web3 community and job opportunities in Vietnam's crypto market. The goal is to foster a conducive environment for training passionate individuals interested in cryptocurrency and blockchain.
Fin Wallet and Ninji Wallet: Ninety Eight supports open-source projects, helping create custom wallets for specific blockchains. Fin Wallet is for Sei Network, allowing token storage, sending, NFT minting, and management. Ninji Wallet is for the Injective ecosystem, supporting token and NFT storage, staking, and integration with dApps like Helix and Dagora.
Upcoming Projects: What Coin98 Has in Store for the Future
Coin98 is committed to continuous innovation and expansion to meet the users’ needs as there are several exciting projects currently in the planning and development stages.
Coin98 Lend & Borrow: The Coin98 Lending & Borrowing platform is in the works, aiming to be a user-friendly platform for seamless lending and borrowing. The team envisions offering competitive interest rates and a diverse range of assets across multiple blockchains.
Coin98 Mega Farm: The Farming (Liquidity-providing) platform of DeFi is also gearing up. We expect attractive farming rewards, various liquidity pool options for optimized yield, and a dynamic platform that encourages active participation.
Coin98 NFT Marketplace: Looking ahead, the Coin98 NFT Marketplace is planned to become a vibrant platform for buying and selling NFTs. We envisage diverse NFT collections, a user-friendly marketplace, and potential collaborations with artists to make it a thriving hub for NFT enthusiasts.
Coin98 Derivatives: Coin98 Derivatives is also in the pipeline, designed to be a comprehensive platform for trading derivatives. Future expectations include a range of derivative products, robust trading tools, and advanced risk management features to cater to the evolving needs of traders.
Coin98 Ventures
Arche Funds (formerly Coin98 Ventures) is the investment arm of the Ninety Eight ecosystem and was established in January 2021.
With the mission of supporting emerging builders and innovative ideas in Web3, Arche Fund operates as an early-stage venture capital firm (Arche Ventures), an accelerator program for Web3 (Kompass), and a capital resource for innovative Web3 ideas (Arche Capital).
Arche Fund has successfully assisted various projects in the blockchain and cryptocurrency industries. Notable high-yield projects include Perpetual Protocol, TraderJoe, Ancient8, and MagicEden, among others.
They actively participate in events, competitions and collaborate with different projects and ecosystems.
This initiative underscores Coin98’s commitment to community development and collaboration.
The main goal is to enhance the utility of the C98 token and contribute to the advancement of the Ninety Eight ecosystem.
Coin98 Network
Coin98 Network enhances the influence of Coin98 Finance by strengthening industry ties, community engagement, and media presence.
The Networks is committed to expanding Coin98’s relationships with industry stakeholders and providing value to the community through knowledge, insights, job opportunities, etc
Coin98 Network powers Coin98 Media and Coin98 Academy.
Some upcoming subbrands are Coin98 Developers and Coin98 Scholarship.
Coin98 Media
Ninety Eight keeps its users in the loop with the latest information about the company and the crypto world!
Below are Coin98’s seven cool media channels, bringing you regular updates.
Coin98 Insights: Coin98 Insights analyzes the crypto market, featuring interviews with major projects. The website is structured for easy navigation, offering content for beginners and in-depth reports.
Coin98 Analytics: Operating on platform X, Coin98 Analytics provides data analysis through infographics. It covers overviews, comparisons, rankings, and summaries in various market sectors.
MarginATM: MarginATM delivers quick crypto news and analysis, focusing on educating traders with technical analysis. It offers trend analyses of token prices related to news.
Interlock: Interlock targets individuals in the crypto market, emphasizing news, personal perspectives, and insights. It's committed to growing a YouTube channel for the 'Gen Z' and 'Gen Y' generations.
San Gem: San Gem is tailored for finding airdrops and opportunities and updating new projects with potential rewards. It provides guides on effective airdrop strategies.
AmberBlocks: AmberBlocks, a Web3-focused publishing platform, supports content creators in the Vietnamese market. It currently serves as a platform for various third parties.
Layer2Gather: Layer2Gather specializes in collecting and providing data about Layer 2 projects, presenting findings through infographics on Platform X. Features include a weekly report, top protocols, dApps, one-page summaries, and ecosystem overviews.
Coin98 Token (C98)
Coin98 launched the C98 token as its native utility token. C98 serves as the cornerstone of the Coin98 ecosystem, as it is used:
For payment of coin98 exchange services
To reward builders and supporters
As staking incentives
To participate in Coin98’s governance
To provide unique membership rights to holders.
Supported Blockchains: Ethereum, BNB Chain, Solana, Polygon, Viction
Token Standard: ERC20, BEP20, SPL, PRC20, VRC25
Token Metrics
Initial Max Supply: 1,000,000,000 C98
Current Total Supply (Total Supply = Initial Max supply - burned tokens): 1,000,000,000 C98
Circulating Supply: 694,999,892 C98
The distribution of tokens is spread among various participants, such as the team, advisors, ecosystem expansion, community development, and strategic partners. Coin98 strives to carefully oversee the token supply, intending to sustain a robust ecosystem and deliver enduring value to its community in the long run.
The images below show the C98 token allocation and the token release schedule
How to Earn on Coin98
Everybody enjoys earning some cool cash, and Coin98 has given us earning opportunities.
Coin98 Staking
Staking is a way of making your money work for you. Stakers get to earn a share of Coin98 revenue by staking their C98 tokens.
It is an incredibly easy way to earn free tokens on Coin98. Just stake your C98 tokens, and you'll start earning passive income on your investment.
Reasons to choose Coin98 for staking:
No risk of impermanent loss
Cost-effective
Ensures security
Coin98 provides a customizable NFT staking card that serves as proof of your staking.
When you transfer the card, you’re essentially transferring your staked assets.
Check out Coin98 Staking to learn how to stake your Coin98 tokens.
Coin98 Vault
Coin98 Vault is like a safe or storage space for your crypto assets. It is a smart system that not only keeps your assets secure but also automates the distribution of your tokens.
Users can claim token rewards by using the vault.
Why you should use Coin98 Vault
Supports 11 blockchains
Gives full control over assets
It is Secure
Allows automation of token distribution
Learn how to create a vault here and claim tokens.
Conclusion
Interoperability is crucial for the mainstream adoption of Web3, and Coin98 is at the forefront of driving this course with its innovative products and projects.
My first impression of the project is its user-centric approach. The ability of newbies to navigate the products seamlessly reflects that Coin98 is designed with users in mind. It is particularly exciting to see a project that has factored in the smooth experience of crypto newbies while carrying the natives along.
Coin98 is truly the gateway from TradFi to DeFi!
References
https://coin98.net/ninety-eight-ecosystem
https://coin98.com/coin98-whitepaper
https://blog.coin98.com/coin98-finance/
https://www.coingecko.com/en/coins/coin98
https://www.forbes.com/profile/nguyen-the-vinh/?sh=134b13b94c6b
https://www.altcoinbuzz.io/spotlight/coin98-finance-ama-session-with-founder-le-thanh/