FunctionX Adds Support To Coin98
FunctionX adds support to Coin98 native token C98 on its ecosystem. C98 will be integrated into the EVM Chain (f(x)EVM) and once it’s deployed, developers and users can utilize the C98 token in dApps on f(x)EVM.
It will be included in the upcoming p(x)Change and people can access C98 at retail merchants.
Understand more about C98
Coin98 is a DeFi platform to borrow, stake, swap, lend and earn crypto. Moreover, Coin98 is a one-stop platform wherein users can access the DeFi ecosystem like on-chain governance, decentralized exchanges, lending protocols, blockchain-based games, and cross-chain transfers on over twenty networks. These include Binance Smart Chain, Ethereum, Solana, Avalanche, and more. In addition, Coin98 Wallet is the first external wallet to integrate f(x)Core blockchain and tokens in the FX ecosystem.
Furthermore, C98 is the governance and utility token of Coin98. The C98 powers the entire Coin98 ecosystem, including Coin98 Exchange, Coin98 Wallet, and Coin98 Launchpad.
The use cases of the token are as follows:
- Liquidity providers who provide liquidity for the development of Coin98 Exchange by staking or including assets in liquidity pools are rewarded with C98 tokens in exchange for liquidity.
- C98 allows token holders to vote on governance proposals to promote decentralized community governance for the network. These token holders get to vote on various features or parameters of the Coin98 exchange and its products.
- C98 holders are bifurcated based on tiers. Users with more C98 are sorted into a higher-ranked tier. These high-tier token holders gain exclusive access to premium events and privileges.
C98 on f(x)EVM
Following this integration, Function X developers will be able to integrate C98 into their own dApps on f(x)EVM, and users can bridge over C98 from the Ethereum blockchain to f(x)EVM via f(x)Core Gravity Bridge.
In addition, C98 will be listed on f(x)Swap and users will be able to add liquidity to the pairs that utilize the token. This listing will also enable users to seamlessly convert cryptocurrencies like FX, PUNDIX, and USDT to C98. f(x)Swap is the first AMM DEX on f(x)EVM and it allows users to trade and provide liquidity to cryptocurrencies in a decentralized way.
ABOUT Coin98
Coin98 is a protocol providing an ecosystem of DeFi products that is more accessible to Defi users. Available projects built on the protocol include decentralized exchanges, lending protocols, on-chain governance, as well as blockchain-based games, and so on.
ABOUT FunctionX
Function X Foundation is a nonprofit, independent organization. Supports the growth of the Function X Ecosystem, a next-generation internet service framework, built entirely on and for the blockchain. It is a completely new ecosystem providing a novel service framework by improving the existing internet and blockchain architectures. It also combines the benefits of both and uses the most commonly used technical solutions. Furthermore, the Foundation has been set up to manage the usage of the Ecosystem Genesis Fund, which aims to motivate, encourage and facilitate service providers to join and get rooted into the Function X Ecosystem.
