What is Coin98 Vault? How to use Coin98 Vault

What is Coin98 Vault?

Coin98 Vault is designed to be a safe way for storing and automating token distribution, allowing for a step-by-step decentralization process as trust in the codebase.

Simply put, the Vault is a crypto storage system for managing assets (tokens/NFTs). Users can quickly and easily claim the rewards and get periodic payments by using this feature, while project owners can automate token distribution and more.

Example:

Mr.X plans to distribute 1,000 C98 (airdrop token distribution) for 50 winners (50 wallet addresses) on December 12nd, 2021.

Firstly, Mr.X will plan the scheduled distribution containing 50 wallet addresses with a specific amount on Coin98 Vault.

Secondly, Mr. X will execute the schedule and the received address on Coin98 Vault.

Then, in the (received) users' wallets, they will receive the notification on Coin98 Super App.

Lastly, on Dec 12nd, 2021 50 winners can claim their token distribution.

What are the benefits of Coin98 Vault?

Multi-chain support

Currently, Coin98 Vault is supporting 11 blockchains: Ethereum, Binance Smart Chain, HECO Chain, Tomo, Avalanche, Fantom, xDai, Polygon, Okex Chain, Celo, Harmony. Coin98 Vault also enhances the experience by not limiting the receiving address in a single event.

Better management of your assets

Coin98 Vault brings asset management to a new level, allowing users to fully control how they spend and split the assets by assigning the permissions to specific addresses at a determined schedule.

In addition, in the context of protocols, the vault plays the role of storing assets, then granting access to 1 or more contracts and can be customized without depending on a fixed contract. Coin98 Vault makes everything much more transparent and flexible.

This feature is a useful and fee-saving tool for a team leader to distribute funds to their members or a project owner to arrange tokens for investors/ users according to their plans. More advanced use cases will be updated in the future.

Unique “token claim" experience

Users can now simply track and manage all of their token claim/payment schedules thanks to this feature. The countdown makes the waiting time less stressful because not knowing when the thing you’re waiting on will arrive is especially excruciating.

Furthermore, the process for users to claim incentives or get scheduled payments on Coin98 Vault has been refined and streamlined to the fullest, with users receiving tokens with just one click.

More secured way to store crypto assets

Vaults can store cryptocurrency just like regular wallets. Besides that, Coin98 Vault is built in such a way that its contract is independent of the protocol contract, ensuring that security is always a top priority. In addition, Coin98 Vault was audited by Slow Mist - a popular Blockchain and smart contract audit company. This means users do not have to worry about any individual who may want to access their funds if the protocol eventually gets hacked.

Vaults can also be used among several owners, allowing you to share ownership of the tokens included. Coin98 Super App will include the multi-sig feature in the future, requiring authorization from all owners before anybody can withdraw or take tokens from the vault, offering an additional degree of security.

Get started

Download and install Coin98 Super App

Coin98 Vault is one of the powerful tools on the Terminal section in the Coin98 Super App, therefore, if you are eligible for the airdrop you have to install the Coin98 Super App to claim.

• iOS: ios.coin98.com
• Android: android.coin98.com

You can also watch the tutorial video on how to install Coin98 Super App here.

Update your wallet address

You should update your wallet address to receive rewards when participating in activities and games for users organized by Coin98.

Some outstanding events that paid rewards to participants via Coin98 Vault: 

• Social airdrop: Coin98 X Coinmarketcap,...
• Events: New Year Celebration - Coin98 x MarginATM event, "Finding Luck" event - total prize 500,000USDT
• And other interesting events will be revealed

After updating your wallet address, in case you participate in the event and are on the list of reward recipients, the gift you receive will be sent to vault  the address you have updated in this section.

Step 1: In the main interface of Coin98, click on the Account icon in the upper left corner of the screen.

Step 2: Select Update the reward wallet here

Step 3: You choose the wallet address you want to receive the reward. That's done, you have successfully updated your wallet address on Coin98.

Note:

• If you want to change the wallet address, you just need to click on the displayed wallet address and select the new wallet address.
• Changing the wallet address in the section on changing the reward wallet address will not affect the accumulated X points. X points will be recorded by the system according to the email address you have registered.

Import/ Restore your reward addresses

Ignore this step if your eligible addresses are already active on the Coin98 Super App.

You need to restore those BEP20 addresses to Coin98 Super App.

• How to synchronize Coin98 Super App with Coin98 Extension here.
• How to import wallet in Coin98 Super App here.

Download and install the Coin98 Extension Wallet

You can access chrome.coin98.com to install the Coin98 Extension Wallet.

For instructions on installing and using the Coin98 Extension Wallet, you can refer to this guide here.

Prepare father tokens for gas fees

Coin98 Vault uses father tokens of each blockchain as gas fees so you must have these coins as fees to claim the tokens.

You can buy them on centralized exchanges like Binance, FTX, Gate.io ... to transfer to your wallet and execute the transactions. In addition, Coin98 integrates MoonPay which makes users easy to buy cryptocurrency via credit card.

Read more: How to buy cryptocurrency via Moonpay on Coin98 Super App.

Note: You must transfer the coin to the correct wallet of the right network that you intend to claim the rewards.

Everything is ready, let’s start claiming!

How to claim the rewards from Coin98 Vault

Step 1: On the home screen of the super app, select Coin98 Vault.

Step 2: Check the coming distributed schedule. If it is the right time, select the claiming icon and see the magic happen.

Note: You can change your eligible wallet by clicking on the current address and selecting the right wallet.

Step 3: Once claimed successfully, please wait for the transaction to be executed and the tokens will show up in your balance.

Note: You can check the history by select the zoom icon in the right corner of the screen.

How to use Coin98 Vault with the Coin98 Extension Wallet

If Coin98 Vault on the Super App currently only allows users to experience token claims, the website version of Coin98 Vault also allows users to allocate tokens in the smartest way.

How to claim the rewards with the Coin98 Extension Wallet

Step 1:  Access Coin98 Vault’s homepage here. Then select Connect Wallet at the top right corner of the screen.

Step 2: Insert the password to connect your wallet.

Step 3: In the My Schedule section, check the coming distributed schedule. If it is the right time, select the claiming icon.

Step 4: In this step, you need to pay a small gas fee to receive the reward. If you agree, choose Confirm.

Note: You can access the History section, to view your received rewards.

Create your vault with Coin98 Vault

This is a feature only available in the website version of Coin98 Vault’s website version, allowing users to create their vault.

Step 1: On the Coin98 Vault homepage, click Manage Vault. 

Step 2: In the Manage Vault section, choose Create Vault. 

Step 3: Insert your vault’s name, blockchain and logo. Then, click Create to create your vault.

Note: 

• The vault creation fee will be collected by blockchain more than 0.02 BNB. Therefore, you need to prepare about 0.03 BNB for the smoothest creation.
• Because this process helps users to create new smart contracts. So the fee for creating a vault will be higher than other features.

How to send a token to your vault 

Each vault will have its smart contract. For other users to receive rewards, you need to deposit tokens into the vault by following instructions:

Step 1: In the Manage Vault section, click the copy address icon next to the vault you want to deposit.

Step 2: Open the Coin98 Extension, select the token you want to send. Click Send. 

Step 3: Paste the copy vault address into Recipient, insert the number of tokens you want to send. Click Send.

How to create a profile with Coin98 Vault 

If you have customers or employees who have to pay salaries or bonuses but hate to enter the address every time. Don't worry, because Coin98 Vault has supported creating profile files to save time and manipulate so that users can send the rewards with just a few clicks.

Step 1: On the Coin98 Vault homepage, click Manage Profile.

Step 2: In the Manage Profile section, choose Create Profile. 

Step 3a: Insert profile name, blockchain corresponding with the wallet address and the amount according to the correct syntax. Click Save Profile.

Step 3b: Select View Detail. Insert profile name, blockchain corresponding with the wallet address and the amount. Click Save Profile.

Step 4: The system will confirm your request to create a profile. Click Confirm if you agree with that.

Note: 

• You can edit at any time by selecting the profile → Edit
• Please make sure that the addresses in the profile are correct with the corresponding blockchain to avoid unfortunate situations.
• Creating the profile is just an option and does not affect the user experience. 

How to create the schedule with Coin98 Vault

After creating your vault and profile, you can customize your coin/token the schedule event professionally with Coin98 Vault.

Step 1: On the Coin98 Vault homepage, click Manage Schedule.

Step 2: In the Manage Profile section, click Create Schedule.

Step 3: Users must fill in the following information to complete the transaction:

• Choose Token: The token you want to send - The token list that can create a vault under (*) section.
• Choose your vault: The vault has chosen a token.
• Input Detail Information:
  • Schedule Name: Event name.
  • Description: Your note about this event.
  • Schedule Time: The reward claim time.
  • Messeger Notification: Tin nhắn thông báo khi đến thời điểm trả token.
• Schedule Data: Click Import Profile to select a prepared profile or you can enter the address and balance according to the corresponding syntax. After successfully exporting the profile, you can edit the address information or the token balance.

Step 4: Click Create to create the schedule.

In this step, the system will charge a very small network fee for your schedule creation. Click Confirm if you agree.

How to check the schedule information 

After successfully creating your schedule, the event will be added to the My Schedule section.

To manage the created schedule, please select the event and the system will display the following details:

• Schedule Name: Event name.
• Vault address: The vault address of the generated event.
• Status: 
  • Soon: The event hasn't happened yet.
  • Live: The event is happening.
  • Complete: The event has ended.
• Chain: Token blockchain.
• Token: Token name.
• Number of Recipient Address: Number of addresses received / Total addresses
• Schedule Time: Event start time.
• Total Amount: Total tokens 

In addition, you can check the status of each wallet address through the Transactions section of each event.

Parting thought

We have completed our first move of bringing more ultimate solutions into Coin98 Super App. Here’s the excitement for the next steps:

• More chains & assets supported (of course NFTs:).
• Multi-sig feature add-on.
• More advanced use cases.

Enjoy our very first retroactive and stay tuned for upcoming initiatives! See you in the next article!