The Coin98, a new coin in the market, obtained its first listing on Binance and jumped 1,200%, from its initial coin offering price at $0.075 on its first day, which was July 23, to $1.73 on July 25. Coin98 is a new DeFi solution that intends to lead the financial transformation by offering users the possibility to leverage the explore features, like lending protocols, on-chain governance and staking. The project, which is based on a Binance Smart Chain, appears to have made some real waves in the crypto world.

The project team is composed of 8 brilliant individuals, whose founders include Thanh Le (an early investor in THORChain, Alpha Finance and Band Protocol) and Vinh The Nguyen of Kytek Software, together with Khiem Dang, CTO, who is also a co-founder of Kytek Software. The team aims to be a profitable DeFi one-stop solution that incorporates all the leverage areas a crypto investor and FinTech user needs, in order to deposit, withdraw, market and trade efficiently.

Why should you invest in Coin98?

True to their mission, the Coin98 team has created a full suite of products, namely the Coin98 wallet, Space Gate (cross-chain bridge) and Coin98 Exchange. Coin98’s infrastructure was developed as a multi-chain protocol that offers over 20 cryptocurrencies through its mobile app and Chrome extension, including ETH, Binance Smart Chain, Polygon, Solana, Terra and others. The possibility of an “always-connected” situation is an exciting one that would help users navigate smoothly from one blockchain to another.

C98 is the native token of Coin98, which facilitates multiple tokenomics. This acts as a utility token on the entire ecosystem and a governance token with unique membership rights. C98 has a total token supply of 1 billion, while 5% of the token supply was allocated for the Binance Launchpad event. Currently, C98 has a circulating supply of 185,000,000 coins. The said Launchpad event garnered over 50,000 investors and pooled close to 4 million BNB or $1.2 billion USD.

In addition, there is more to this DeFi project than meets the eye, including the reallocation of gas fees as rewards for active users in the Coin98 protocol. The project also guarantees lower gas or transaction fees, that will be payable using the C98 token. Another one is staking on the protocol, which offers both an appealing reward to the users and the advantage of governance and other special membership rights.

DeFi has proven to be growing to become a profitable venture in the South East Asian territory, as per various prominent investors, therefore, Coin98 could spearhead the acceleration of DeFi in the right direction.