FAQ about Coin98 and the C98 Binance Launchpad event!
Coin98 has reached a new milestone: C98 - Coin98's coin will be available for sale at Binance Launchpad. Step inside the domestic and abroad community, many users are still unsure about Coin98's products, as well as the fact that Binance Launchpad has seen significant changes since its initiation so that this article will summarize frequently asked questions and answer them. As a result, the focus of this paper will be on:
- FAQs about Binance Launchpad C98 event
- FAQs about C98 Token.
- FAQs about the Coin98 product suite.
More inquiries can be made here. The information in this article will be updated regularly.
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About the token sale event of C98 on Binance LaunchPad
The process to join & register to buy C98 on Binance LaunchPad
Below are the answers to frequently asked questions.
How long is the daily average BNB calculation phase?
The daily average BNB calculation phase will start from 0:00 AM (UTC) on July 16th, 2021 to 0:00 AM (UTC) on July 23rd, 2021.
The final average daily BNB balance over these 7 days will determine the maximum amount of BNB that you can commit later on.
The Preparation Period is July 16th 2021 0:00 AM (UTC) to July 23rd 2021 0:00 AM (UTC), so is it available to buy BNB now?
User BNB balances will be calculated in hourly snapshots for each day over a 7-day period. Even if you hold 1 day, you can be an attendee.
Ex: Holders of 70 BNB in 1 day can buy IEO equivalent to holders of 10 BNB for 7 days.
The system will calculate the BNB balance on which wallet?
On the Binance exchange, the system will only calculate the accurate BNB balance on the following wallets:
- Spot Account Wallet.
- Binance Fiat Account Wallet.
- Sub-accounts Wallet.
- Margin Account Wallet.
- Binance Savings Account Wallet (no fixed time).
- Launchpad & Launchpool Account Wallet.
- Futures Account Wallet.
- Binance Card Account Wallet, BNB Vault Account Wallet.
Is the BNB in Launchpool or BNB Vault count towards participation limit calculation?
Yes.
The average BNB calculation will be the same as the previous Launchpad lottery format. You can keep your BNB in Launchpool or BNB Vault, the amount still counts towards your participation limit.
For a list of all accounts that will record BNB balances, please refer to the article here.
Will BNB staking or locking in Liquid Swap be recorded as BNB holding?
No.
You need to hold BNB on your wallet; it is not eligible if BNB is being used for staking or being locked for a fixed period of time.
How long is the commitment period?
Commitment period takes place in 4 hours.
Will I be able to pay in BNB or will I be required to purchase USDT?
Only BNB tokens can be used to participate in the IEO on Binance Launchpad. As a result, if you want to participate in any IEO project, you should have at least enough BNB in your wallet (depending on your demands).
Is it required to buy a winning ticket?
You won't have to queue for tickets, and this IEO isn't a lottery or an FCFS (First come - First Service) event. The subscription mechanism, on the other hand, allows any participant to purchase.
Will C98 tokens be locked after the Binance Launchpad event ends on July 23rd? Is it going to be transferred immediately to your wallet?
C98 tokens will be immediately distributed to user wallets after the sale event ends.
What is Preparation Time? Is it necessary to register in order to purchase before this time?
The Preparation Time is the time it takes for the system to begin automatically snapshotting the BNB balance in the participant's wallet. Your final average daily BNB balance over these 7 days will determine the maximum amount of BNB that you can commit later on.
The higher the number of tickets held, the higher the chance users will have to buy C98 tokens.
About Coin98 Token (C98)
What is the C98 Token?
Coin98 is a DeFi ecosystem that aims to make DeFi more accessible to users. To achieve this purpose, Coin98 has created a suite of products that cover all aspects of user demands, including transactions, storage, asset management, lending, savings, and more.
Which blockchain does the C98 token belong to?
C98 will be available in 3 blockchains with the following quantities:
- Ethereum: 50M C98, details here.
- Binance Smart Chain: 100M C98, details here.
- Solana: 35M C98, details here.
Is there a plan for Coin98, or have you ever received C98 via Airdrop?
Coin98 had an Airdrop scheme in 2020 where users may invite others to utilize Coin98 Wallet, which is C98 on the TomoChain network (TRC21).
However, because Coin98 has yet to make any announcements concerning the new C98 Airdrop (ERC-20, BEP-20, or SPL standard), the Airdrop C98 messages you have received are 100% fake.
Can I swap C98 TRC-21 - airdropped in 2020 for a new-listing C98 - scheduled to open for sale on Binance Launchpad?
C98 TRC21 will be announced shortly. You can keep up with the latest news by following Coin98's official information channels.
- Coin98 Insights: updating...
- Coin98 Wallet: https://t.me/coin98wallet
Coin98 Official Websites
- Website: https://www.coin98.com
- Whitepaper: https://coin98.com/coin98-whitepaper
- Telegram: https://t.me/coin98_wallet
- Twitter: https://twitter.com/coin98_wallet
- Blog: https://blog.coin98.com
About Coin98’s product suite
What products does Coin98 include?
The ecosystem of Coin98 consists of three main arms:
- Coin98 Ventures: To find and support builders in building products
- Coin98 Labs: To create solutions in DeFi that will assist users in interacting with and accessing the market in the most convenient way, through products that are constantly enhanced to meet user’s needs and trends. Products: Coin98 Wallet, Coin98 Exchange, Coin98 Portfolio, Coin98 Markets, Coin98 Wallet, Coin98 Exchange, Coin98 Portfolio, Coin98 Markets, and so on.
- Coin98 Network: Coin98's information and research network for the crypto community. Products: Coin98 Insights, Coin98 Analytics, Coin98 TV, Coin98 Academy, Coin98 Developers, Coin98 Scholarship.
Please refer to the Coin98 Ecosystem overview for a more detailed understanding of each of the above products.
Does Coin98 have a Whitepaper?
Please refer to the Coin98 Whitepaper here.
What is the utility of X-Point in Coin98 Wallet? How to earn X-Points?
X-Point is a bonus point for the Coin98 Wallet users. X-Point is not a token.
Coin98 Wallet created X-Point to encourage users to use and experience the wallet's valuable features. At the same time, Coin98 Wallet has the opportunity to thank users for supporting the product, as well as accompanying the Coin98 team, using X-Point reward redemption systems.
Users can currently earn X-Points by "Swap" on Coin98 Wallet. Specifically, users will earn X-Points if they use the SWAP feature on Coin98 Wallet and trade through one of the AMMs supported by Coin98 Wallet.
Please read about What is X-point for more information on X-usage Point's cases and Swap on the Coin98 Wallet.
Will Coin98 Wallet start charging fees with C98 after it launches (wallet setup charge, transaction fee, etc.)?
Coin98 Wallet will announce in this regard later; for the time being, all Coin98 services and products are free to use.
Is Coin98 planning to start farming?
There will be Staking and Farming. Coin98 will provide further information later.
What is C98 used for in the Coin98 ecosystem?
C98 is the Coin98’s Ecosystem Token. C98 will be used for the following purposes:
- Transaction fee: For each transaction on Coin98 Exchange, Coin98 will earn a portion of the transaction fee.
- Product development: C98 revenue from transaction fees and other sources will be utilized to reward Coin98 contributors such as Liquidity Providers, Stakers, Users, and others.
- Staking incentives: On the Coin98 Exchange, C98 will be utilized to reward Liquidity Protoproviders.
- Governance: As a DeFi protocol that seeks to empower the community, Coin98 allows C98 staking users to submit Proposals that are then voted on by the community.
- Unique Membership Rights: C98 holders will be separated into tiers and will get incentives from Coin98, such as discounts on Coin98 products (Coin98 Launchpad, Coin98 Exchange, etc.) and events hosted by Coin98's partners.
What is Coin98's development strategy in the next 5 years?
5 years is a very long time in Crypto. With a nascent business growing at a fast pace like crypto, it's tough to forecast what will happen in five years.
Even so, Coin98 has set strategic plans for the next five years, including:
In terms of resources, Coin98 collected enough funds via two rounds of Seed and Private funding to expand the team size and develop more products over the next five years.
In terms of human resources, Coin98 focuses on internal training while also recruiting young intellectuals who are capable, fluent in foreign languages, and willing to devote their time to ensuring developers' resources, researchers, and other personnel meet the development needs of Coin98's many products.
The short-term goal in terms of products will be to develop and complete Coin98 Exchange and introduce it to millions of users worldwide. Coin98 will begin developing its own system of protocols below on many different chains to integrate into Coin98 Exchange once it is completed. Except for the potential that when the ecosystem is established and strong enough, Coin98 will launch its own chain. Coin98 Exchange may be found at https://exchange.coin98.com.
Revealing 2 of the many big goals of Coin98's strategic development roadmap:
- To optimize and sustain the entire Coin98 Finance ecosystem, build its own Blockchain infrastructure.
- Create a resource launchpad to expand into financial markets beyond cryptocurrency.
Summary
The above are some frequently asked questions about Binance Launchpad's upcoming 20th opening, as well as Coin98 and C98. If you have any further questions, please comment below. The Coin98 team will update and respond as soon as possible!
Remember to follow and join Coin98 Insights' groups and channels to stay up to date with the market:
- Telegram Channel: https://t.me/Coin98Insights
- Youtube: https://youtube.com/coin98
- Facebook: https://www.facebook.com/groups/Coin98.Net
- Twitter: https://twitter.com/Coin98Insights