Binance has recently added Coin 98 on its Launchpad. Coin98 is a Decentralized Finance (DeFi) liquidity exchange. Coin 98, a cross-solvency token, offers features like lending protocols, staking, and on-chain governance. Coin 98 also allows traders to buy crypto coins and assets exchanges services. This multi-chain protocol supports more than 20 cryptocurrencies on its mobile application.
Recently Binance and Coin 98 has signed an agreement, as a result, Coin 98 liquidity token is now listed on the Binance Launchpad. Sales have already begun. The UK-based crypto exchange told the users that sales will start through a subscription. The official public offerings will start on 16th of the July and will last till the 26th of July. Binance Launchpad is considered the most diverse launchpad and Coin 98 is its 20th digital token. The world’s largest crypt exchange will supervise the total investment an investor can invest as BNB the validity period for this will be a week.
Investors who will meet the eligibility criteria will be offered four additional hours to agree to sign the token purchase agreement. Once the agreement is signed the BNB account will be locked, investors with the locked account will be able to trade via the Binance platform. Binance will have all the rights to deduct its service fee from the locked BNB accounts. Tokens will be offered to the public after the final distribution on the 23rd of June.
After the deduction of the fee, Binance will then transfer the remaining balance to the user’s active accounts. So users might begin spot trading.
Even though Binance is fighting legal battles in the U.K, U.S, Canada, China, and other countries as well. But these battles did not affect Binance’s financial performance. Binance’s market size is growing more and more.
The fact of the matter is that Coin 98 is a user-oriented liquidity token that can offer multiple benefits to users. Binance has predicted that Coin 98 will be one of the most active coins and people will be trading it soon with immense frequency. Coin98 is a multi-purpose token, will serve as a governance and utility token. Users will be able to use Coin98 as cash. It will be accepted to pay utility bills; the token can be exchanged for fiat money. It can be used to sell and purchase other digitals assets as well.
This is not enough, the DeFi project brings other options on the cards, which include the reduction in gas fees. Those customers who will use C98 to pay their gas bills will be offered special discounts on their bills. Shelly Melancon a Switzerland-based crypto expert said that Coin98 will boost Binance’s exchange and Binance will be one of the most actively used exchanges in near future.