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xC98 is our new synthetic asset

May 26, 2022

Synthetic Coin98

GM! 👋

Another DAO proposal has been approved successfully. We are glad, that you are actively participating in the development of our app.

In this post, we will introduce you to our new synthetic asset - Coin98

What are synthetic assets?

Synthetic assets closely track the price of specific assets assigned to them e.g. xBTC will have the same price as BTC on centralized exchanges. Synthetic assets have a form of the SPL-Token and can be freely transferred between wallets or used in other DeFi applications. Prices of all synthetic assets are provided by decentralized oracles built on top of the Solana blockchain ⚡

What is Coin98?

Coin98 is the native token of the Coin98 network.
C98 is available on many blockchains such as Ethereum, Binance Smart Chain, or Solana.
There are many benefits for the C98 holders, such as:

  1. Earning network transaction fees.
  2. Staking their C98 tokens to earn additional rewards.
  3. Possibility to participate in governance.

We are excited to see another interesting synthetic token in our app! 🔥

If you would like to know more about this project, check out their website and Twitter.

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