Binance Launchpad announces Coin98 (C98) Token Sale – Largest Cryptocurrency trading exchange Binance have announced Coin98 (C98) token sale on Binance Launchpad, Coin98 enables value transfer as easily as using the Internet by the innovation of Multi-chain Engine, fully Automatic Liquidity and Space Gate, all in one Super Liquidity Aggregator.
Information obtained from Coin98 website states: “With the distinctive multi-chain wallet engine as its core, Coin98 Wallet provides the “always-connected” experience, supporting users to access numerous DeFi services across separate blockchains seamlessly and concurrently. Users can also transact tokens with optimized gas fees and manage multiple digital assets simultaneously on Coin98 Wallet”.
“C98 token facilitates multiple tokenomics, serving both as governance, and utility token C98 tokenomics unites the entire Coin98 Ecosytem”.
According to Binance announcement the token sale for Coin98 will follow the Launchpad subscription format, with the recording of user BNB balances starting at July 16 0:00 AM (UTC).
Binance will record user BNB balances for 7 days from 2021-07-16 0:00 AM (UTC) to 2021-07-23 0:00 AM (UTC). The final BNB holding amount for each user will be determined as the average of the 7 days, using the Daily Average BNB Balance calculation previously announced here.
C98 Token Sale Details:
- Token Name: Coin98 (C98)
- Launchpad Hard Cap: 3,750,000 USD
- Hard Cap Per User: 20,000 USD (266,666.667 C98)
- Total Token Supply: 1,000,000,000 C98
- Total Tokens Allocated to Binance Launchpad: 50,000,000 C98 (5% of Total Token Supply)
- Public Sale Token Price: 1 C98 = 0.075 USD (price in BNB will be determined prior to subscription)
- Token Sale Format: Subscription
- Supported Sessions: BNB only
Subscription Timeline:
- Preparation Period 2021-07-16 0:00 AM (UTC) to 2021-07-23 0:00 AM (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a 7-day period. Your final average daily BNB balance over these 7 days will determine the maximum amount of BNB that you can commit later on.
- Subscription Period 2021-07-23 6:00 AM (UTC) to 2021-07-23 10:00 AM (UTC): Subscription will open at this time for all eligible users for a 4 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.
- Calculation Period 2021-07-23 10:00 AM (UTC) to 2021-07-23 11:00 AM (UTC): Subscription closes and token allocation calculation begins.
- Final Token Distribution 2021-07-23 11:00 AM (UTC): Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your C98 and BNB tokens will both be transferred to your spot wallet.