Coin98
C98
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Coin98 (C98) is an established multichain DeFi wallet and ecosystem led by a public, experienced Vietnamese founding team operating since 2017. The project maintains a clean security incident record with no affirmative exploits or hacks on file, supported by a CertiK pentest and an active bug bounty program on HackenProof. However, C98 faces severe structural and adoption challenges. Public development activity has slowed, and community engagement has experienced a severe drop with near-zero social momentum as of August 2026. Furthermore, its tokenomics feature largely circular utility with no deflationary burn mechanisms, and the asset has suffered a -99.8% price drawdown from its all-time high amid heavy competition in the self-custody wallet market. There were no qualifying red-flag events or data gaps, and the overall score reflects the mathematical weighted average of all evaluated sections.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Coin98 (C98)
Coin98 (C98) is the native utility and governance token for Coin98 (also referred to as "Ninety Eight"), a multichain decentralized finance (DeFi) ecosystem established in 2017 by founders Le Thanh and Nguyen The Vinh. The platform includes products such as the Coin98 Super Wallet, the Fusion Card, and cross-network infrastructure supporting blockchains including Ethereum, BNB Smart Chain (BSC), Solana, and Polygon. Within the ecosystem, the C98 token is utilized for fee redistributions, platform incentives, and consultative governance voting on parameter adjustments via Snapshot.
The token is capped at a total supply of 1,000,000,000 C98, with the majority of the allocation in circulation following multi-year vesting schedules. The tokenomics framework relies on circular treasury-funded incentives and fee redistribution mechanisms rather than token burns or buyback programs. Ecosystem governance remains centered around the founding team, offering advisory voting rather than sovereign decentralized autonomous organization (DAO) control over treasury allocations.
While Coin98 has no recorded smart contract exploits or protocol breaches and maintains a bug bounty program on HackenProof, security assessments, including a CertiK penetration test, identified several major findings that were acknowledged rather than resolved. Furthermore, a related ecosystem asset, the Coin98 Dollar (CUSD) stablecoin, holds a CCC rating from CertiK due to a lack of third-party audits. C98 has also experienced a substantial market decline, dropping approximately 99.8% from its all-time high of $6.42 down to around $0.015, accompanied by reduced public development commits and low social engagement metrics.