Proposal to Upgrade Coin98’s ($C98) liquidity Pair for Farm Rewards from v2 to v3

Upgrade of Coin98’s Liquidity Pair for Farm Rewards from v2 to v3

We are proposing to shift Coin98’s Farm rewards from the current C98-BNB v2 LP to the new C98-BNB v3 LP.

We believe that transitioning to the C98-BNB v3 pair will further incentivize the liquidity for the C98 token, and support healthy trading volumes for PancakeSwap. As a result of the concentrated liquidity model, the same amount of liquidity in v3, compared to v2, can support significantly larger trades.

For example, for a $500 trade, with a liquidity of $200,000 in the pool, v3 is about 8x more efficient than v2. (Assuming the v3 liquidity was added across a price range of +/- 25% of the current C98 price.)

To ensure a smooth transition between v2 and v3 pairs, there will be an overlap of one day where there will be incentives directed towards both farms. This will occur on 18 May 2023.

After 0830 UTC on 18 May 2023, only the v3 pair will receive incentives, so users are encouraged to migrate in advance of this time.

The New Farm:

The proposed new Farm will have doubled emissions for the first 7 days. For example, if the v2 farm emits 10 CAKE per day, the proposed v3 farm will emit 20 CAKE per day for the first 7 days and 10 CAKE per day thereafter.

Other differences are the change of the liquidity pair and moving from the v2 farm to the v3 farm.

Previous v2 Farm:

• Stake C98-BNB LP, earn CAKE
• 1x multiplier
• 49 CAKE per day

New v3 Farm (0.25% fee tier):

• Stake C98-BNB LP, earn CAKE
• 2.4x multiplier (4.8x multiplier for the first 7 days)
• 98 CAKE per day for the first 7 days and 49 CAKE per day thereafter

In the future, the farm will be re-adjusted to a 0x multiplier unless the following metrics are comparable with other 2.4x multiplier farms: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

Key timelines

• Launch of C98-BNB v3 farm: Approx. 0830 UTC on 18 May 2023
• Sunset of C98-BNB v2 farm: Approx. 0830 UTC on 19 May 2023

How to migrate?

Please remember to shift your LP to the new farm before the v2 farm sunsets.

Please refer to the following link for migration instructions

What is Coin98?

Coin98 is a DeFi product builder focusing on creating and developing an ecosystem of DeFi protocols, Web3 applications, and NFTs on multiple blockchains.

What is $C98?

From the team: “C98 is the native utility token of the Coin98 DeFi platform, powering the entire ecosystem. C98 plays an important role in operating the Coin98 ecosystem, and at the same time brings profits to holders and rights for long-term development. This includes but is not limited to staking, governance, unique membership rights, and platform fees.”

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️

The official C98 token contract address on Binance Smart Chain is:

https://bscscan.com/token/0xaec945e04baf28b135fa7c640f624f8d90f1c3a6

​Any other C98 token will be a scam. Always verify the token address before buying tokens. If you receive a C98 token airdrop from another address, it’s probably a scam, and we advise you to ignore it.