Coin98 Introduces a New Stablecoin, $CUSD, on KyberSwap
Coin98 (C98) has chosen to improve liquidity on Ethereum for their recently released stablecoin CUSD on KyberSwap Elastic. Coin98’s architecture, which is characterized to as an all-in-one DeFi platform, includes a multi-chain wallet, a decentralized exchange, currency launching, financing, and auditing services. Because DeFi is fragmented, it is difficult for novice DeFi traders to find all of these tools at once and switch chains. Coin98 addresses this by consolidating all services into a single platform, allowing them to be accessed from a single wallet.
Collaboration between Coin98 and KyberSwap
Coin98 and KyberSwap have long been collaborators, and KyberSwap’s platform first supported Coin98 Wallet. KyberSwap is thrilled to help Coin98 by sponsoring a liquidity mining program for the recently created stablecoin CUSD. Coin98 Dollar (CUSD), in addition to USDC, USDT, and BUSD, is a stablecoin tied to the US dollar that provides cross-chain liquidity for all chains. The Canadian dollar is fully guaranteed and backed by reserves. CUSD contract audits are made public.
CUSD is the lifeblood of the Coin98 ecosystem.
The Coin98 ecosystem is built with CUSD as its “lifeline,” allowing for smooth, consistent cross-chain liquidity transfer to present and future infrastructures. The user must provide Treasury in USD (CUSD Treasury) in one of the two stablecoins, BUSD or USDC, in order to release CUSD. If it is not required, the customer must spend CUSD and then re-enter Treasury in USD to acquire BUSD or USDC. CUSD and USDC LPs can deposit and trade their liquidity positions NFT on KyberSwap Elastic beginning September 19 and gain $C98 bonuses. LPs can benefit from concentrated liquidity and compounding fees by utilizing KyberSwap’s Elastic protocol, which increases capital efficiency and profits.
EthPoW will be supported by KyberSwap.
Recently, individuals have asked for help regulating the Merge and gaining access to EthPoW assets in an endless stream. KyberSwap described its goal of making DeFi accessible, quick, secure, and simple in a blog post. KyberSwap decided to enable EthPoW access to their user interface (UI) while always supporting EthPoS as the only canonical chain to test if there was any demand for it. This plan was supported by more than 60% of those who replied.