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How It Works #03 | Coin98 Wallet | Optimized user experience

Publish by Vi Dang at 21 July 2021

In this article, we will be going through the Coin98 Wallet Protocol and its special features that extend the potentials and investment opportunities for Coin98. So, the main question for this article is: How does Coin98 Wallet work?

Quick notes

  • Coin98 Wallet is the first and most focused on product of Coin98 Labs.
  • Coin98 Wallet has numerous features that fulfill different demands of DeFi users.
  • Coin98 Wallet’s features optimize users’ experience, assisting in simplifying their journey to explore DeFi.

What is Coin98 Wallet?

Coin98 Wallet is the first product of Coin98 Labs and has been developed since 2020. It is a non-custodial wallet used to store, manage, trade and swap multi-chain, multi-source digital assets.

Coin98 Wallet currently supports all coins/tokens on the most popular blockchains, including BTC, ETH, TOMO, Tron, Binance Smart Chain, Solana, Polkadot, Kusama, Huobi ECO Chain, Near, Avalanche, Binance Chain, Celo, Avax C-chain + X-chain, Cosmos (+ Thor + Terra + Band + Kava + Secret Network), Polygon (Matic), Fantom, Dfinity, Persistence, Helium, Cardano and KardiaChain.

Coin98 Wallet’s mission is to become a DApp that provides the full suite of products and services to Crypto users, providing a smarter experience for users when using these products.

Coin98 Wallet is developed on 4 platforms acting as a gateway that connects users to the DeFi world, you can install & experience Coin98 Wallet with links below:

Coin98 Wallet’s operational model

Coin98 Wallet offers many features for Crypto users to explore, including:

  • Multi-chain Wallet Core.
  • Multi-chain Swap.
  • Cross-chain Bridge.
  • Market.
  • Portfolio.
  • DApp Store.
  • Earn.
  • X-Energy.

Let’s go through all of these features one-by-one.

Read more: Introducing Coin98 | An Overview of the Coin98 Ecosystem

Multi-chain Wallet Core - Store and Manage multiple assets

As the market shifts and expands to other blockchain platforms aside from Ethereum, different problems start to emerge. Users now not only demand to store and manage assets on just Ethereum and Bitcoin, but also on many more blockchain platforms, such as BSC, Heco, Solana, Cosmos, Polygon, etc.

The biggest problem is that users have to manage too much information when they store assets.

Multichain Wallet Mechanism.

As the figure shows, you can clearly see that if users want to manage their assets in this Multi-Chain Era, they have 2 key information to take care of:

  • Different wallet-supported apps: Metamask, Tronlink, Sollet, Rainbow, etc.
  • Passphrases & Private Keys of all their wallets.

Moreover, users not only have 1 wallet, but many different wallets on a single blockchain, therefore, the wallet management process can be very time-consuming.

Coin98 Wallet’s solution

Coin98 Wallet has been developing the Multi-Chain Wallet that supports many blockchains with one single Passphrase.

The Coin98 Multi-Chain Wallet solution.

Users can just access Coin98 Wallet and create a Multi-chain wallet to store assets on all supported blockchains. Especially, all these wallets are managed with only one single Passphrase.

Users can now store and manage their assets on multiple blockchains just by:

  • Installing Coin98 Wallet.
  • Storing 1 single Passphrase of the Multi-chain Wallet.

Eliminate the burdens of asset management with the Coin98 Wallet’s solution.

Multi-chain Swap - Swapping made easy

Coin98 Wallet’s objective is not only to become the best Crypto wallet, but also an Aggregator DApp that supports all services of the market in a decentralized, permissionless way.

The current problems of this market

As DeFi is growing rapidly, many blockchains have appeared and each blockchain contains numerous DApps and Protocols. Therefore, if beginners want to explore DeFi with different simple activities, such as Swapping, Lending, Staking, Saving, Voting,... they need to learn and hold a great amount of knowledge.

To use a simple feature as Swap in DeFi, users need to find out:

  • Which blockchain those coins/tokens belong to.
  • The wallets that support this blockchain.
  • The AMMs that support trading those coins/tokens.

Even after getting ahold of those information, users still need to go through a long process as demonstrated below:

The Multi-Chain Swap mechanism on Coin98 Wallet

A few complicated steps in this 7-step process include:

  • Installing the right wallet: There are thousands of different wallets in this market, and finding the right wallet is not simple.
  • Choosing the right blockchain: Many wallets now support various blockchains that users need to choose from.
  • Choosing the assets to swap: Many assets are not listed on AMMs, which requires users to find and insert the right contract addresses of those assets in order to swap.

As you can see, users have to go through a lot to complete just 1 simple swap. This process may seem easy for those swapping experts, but it is a burden for beginners.

That is the current problem of DeFi. DeFi is still complicated compared to CeFi services, making Mass Adoption harder to accomplish.

Coin98 Wallet’s solution

To solve this problem and make Swapping easier, Coin98 Wallet has integrated many top-tier AMMs on different blockchains.

Users can currently trade with almost all assets on the biggest AMMs on many popular blockchains, such as:

  • Ethereum: UniSwap, SushiSwap.
  • BSC: PancakeSwap V1, PancakeSwap V2.
  • HecoChain: MDEX.
  • Solana: Serum DEX V3.
Coin98 Wallet supports swapping assets on different blockchains

By integrating those AMMs, Coin98 Wallet has shortened the steps, simplifying the Swapping process for users.

In addition, QuickSwap on Polygon and JulSwap on Tron will soon be integrated following the Coin98 Wallet version X.

The Swap mechanism on Coin98 Wallet.

Users now only need to complete 3 steps to swap on Coin98 Wallet:

  1. Choose the assets they want to swap.
  2. Click Swap.
  3. Then start swapping on the chosen AMM.
How to Swap on Coin98 Wallet.

The benefits of swapping on Coin98 Wallet

We can clearly see that swapping on Coin98 Wallet is easier and much faster. Users only need to complete 3 steps to swap instead of the usual 7 steps. Other benefits include:

  • Users don’t need to research too much: Coin98 Wallet automates everything - choosing the correct blockchain, the wallet and the correct AMM.
  • Fast & convenient trade: Trading on Coin98 Wallet doesn’t require much effort in connecting and changing between wallets.
  • No need for Smart Contract: Coin98 Wallet’s system automatically updates all new tokens in the market quickly and precisely. Users can easily choose their assets while maintaining their security when trading.

Cross-Chain Bridge V1 - Converting assets between blockchains

When DeFi started to expand to other blockchains, the demand for converting assets between blockchains has increased more than ever.

To fulfill this demand, Coin98 Wallet has released the Cross-Chain Bridge V1, currently supports converting tokens between 4 blockchains: Ethereum, BSC, Tron, Solana.

The Cross-Chain Bridge’s operation model

The Cross-Chain Bridge mechanism on Coin98 Wallet.

Coin98 Wallet’s Cross-Chain Bridge applies the Liquidity Pool model, allowing Liquidity Providers to add liquidity to different pools, so that when users take the assets from these Pools, LPs will receive the transaction fees.

The special thing about our Cross-Chain Bridge compared to other Bridges is that it has the automatic Rebalance mechanism.

For example: When there is a large amount of USDT ERC20 waiting to be converted into USDT SPL, the amount of USDT in the ERC20 Pool will largely increase, and the amount of USDT in the SPL Pool will decrease. Coin98 Wallet’s Cross-Chain Bridge will then automatically convert one part of USDT ERC20 into USDT SPL to ensure the proper liquidity for users.

Let’s go deeper into the technical side of the Coin98 Wallet’s Cross-Chain Bridge model. For example, when you’re converting USDT ERC20 into USDT SPL, the technical process goes as follows:

The technical process when converting USDT ERC20 into USDT SPL.
  1. First of all, your USDT ERC20 will be sent to the ERC20 Pool of the Cross-Chain Bridge.
  2. This Pool is covered by a Smart Contract, so that when there’s an amount of USDT sent to this Pool, the Smart Contract will send a Call command to the Pool’s Validators.
  3. After receiving the Call command, the Validators of this ERC20 Pool will confirm with the Validator of the SPL Pool.
  4. The Validator of the SPL Pool will check if this amount of USDT has gone into the ERC20 Pool. If not, the whole process will be rolled back.
  5. If USDT has gone into the ERC20 Pool, the Validator will call a command to the Smart Contract of the SPL Pool, asking to send USDT SPL to the previously assigned address.
  6. The SPL Pool will then send the corresponding amount of USDT to the users’ SPL wallet address.

That is how the whole process goes internally every time you use the Coin98 Wallet’s Cross-Chain Bridge.

The transaction fee wouldn’t be equally divided between all LPs, but only between LPs that provided the liquidity for that certain transaction: LPs of the ERC20 and SPL Pools in this case. Therefore, the APY in these Pools can be different.

The benefits of using the Cross-Chain Bridge on Coin98 Wallet

  • Fast & convenient: Users don’t need to deposit and withdraw their assets on CEXs, which can be time consuming.
  • No slippage: The conversion rate is always 1:1.
  • Supports various blockchains: Most Bridges only support 2 - 3 blockchains or only EVM chains, while Coin98 Wallet supports converting any token on any chain.

Cross-Chain Bridge is now available on the Coin98 Mobile Wallet, read the instructions on how to use Cross-Chain Bridge on Coin98 Wallet for more information.

The potential for development of the Cross-Chain Bridge

As you can see from the model above, Coin98 Wallet’s Cross-Chain Bridge needs 2 main factors to operate: the Smart Contract and the Validator.

Once these factors are completed, the Cross-Chain Bridge can easily assist in converting other assets, such as BTC, ETH, LINK on more blockchains (BSC, Solana, Tron, Avalanche, Cosmos,...)

The Cross-Chain Bridge currently supports converting stablecoins between 4 blockchains: ERC20, TRC20, BEP20, SPL, and more types of assets will be supported in the near future.


Markets is a feature that provides all crucial information of the market such as market cap, trading volume, BTC Dominance, ETH Gas Gwei,... for users to gain a general understanding of the market’s current situation.

The Market’s interface on the Coin98 Mobile Wallet.

Coin98 Wallet is still developing this feature. In the future, with Market, you will be able to view not only the general information of the wallet, but also the specific statistics of different projects.

The Market’s interface on Coin98 Wallet Web version.


The problem

Coin98 Multi-Chain Wallet is a non-custodial multi-chain wallet that allows users to store their multi-chain assets. Then how do users manage their assets from CEXs?

Coin98 Wallet’s solution

Coin98 Wallet has developed Coin98 Portfolio, allowing users to keep track of their assets easily in 2 ways:

  • Connect API with CEXs.
  • Create their own Portfolio.
The Portfolio mechanism on Coin98 Wallet.

To manage your portfolio from CEX platforms, complete 2 steps below:

  1. Go to the Exchange platform, find the API section, then copy the API Key and the Secret Key of your wallet.
  2. Paste the API Key and the Secret Key into the Coin98 Portfolio.
Portfolio on Coin98 Wallet Mobile.

To create a Portfolio on Coin98 Wallet, complete these 2 steps:

  1. Access Portfolio, create and name your new portfolio.
  2. Add your tokens, the buying price & the amount.

With Coin98 Wallet’s Portfolio, you can manage your assets all in one place, including:

  • The assets in non-custodial wallets.
  • The assets on CEX platforms.
  • Other personal assets you manage.

DApp Store - Bringing the whole DeFi to users

As I mentioned, the goal of Coin98 Wallet doesn’t stop at becoming the leading digital wallet application. Aside from optimizing the Swap feature, Coin98 Wallet also provides a DApp Store to serve the needs of users.

The problem

After storing and trading on Coin98 Wallet, if users want to do other activities on DeFi such as Lending, Staking, Farming, Voting, etc, what should they do?

Similar to the Swapping process, for beginners of DeFi, they first need to find information, conduct researches and go through many complicated steps, for example:

  • Find Lending, Staking, Farming,... Protocols.
  • Find out which blockchain this Protocol belongs to.
  • Find out which types of wallet are supported on this Protocol.
  • Install the wallet, connect & choose the wallet, select the blockchain, etc.

Moreover, after setting up, using a Protocol is not simple at all.

Coin98 Wallet’s solution

Coin98 Wallet solves this problem by providing a DApp Store with many different categories:

  • Exchanges: SushiSwap (Ethereum), Uniswap (Ethereum), PancakeSwap (Binance Smart Chain), MDEX (Huobi ECO Chain), 1inch (Ethereum & Binance Smart Chain),...
  • Finance: Compound, Aave, yearn.finance, Curve, Zapper, Zerion…
  • Starter: Duckstater, Polkastarter, Poolz.
  • Farm & Stake: Luaswap, UBU Finance, Ox staking, Duckfarm, Lido Staking…
  • Utilities: Bidali, Snapshot, Keep3R Network.
  • Games: CryptoKitties, PoolTogether….

And many more! Users can just choose their preferred category, select a DApp and jump right into action. Coin98 Wallet will take care of the rest: choose the correct blockchain and select a wallet.

The process of using the DApp Store on Coin98 Wallet.

The benefits of using the DApp Store on Coin98 Wallet

The objective of Coin98 Wallet is to bring an outstanding experience to users from the smallest details. When using the DApp Store on Coin98 Wallet, you can use different Protocols for multiple purposes easily and conveniently, as:

  • Coin98 Wallet currently supports many DApps, allowing you to perform different activities with a faster connection speed.
  • Coin98 Wallet automatically selects the correct blockchain and connects to all wallets on this blockchain, enabling you to instantly use any Protocol.

Aggregate and optimize the user experience, that’s how Coin98 Wallet solves the current problems in DeFi nowadays.

Multi-Chain Wallet Engine - The future of this Wallet market

Multi-Chain Wallet Engine is a unique feature that makes Coin98 Wallet distinctive from other Multi-Chain wallets in the market.

Basically, the Multi-Chain Wallet Engine allows activating all wallets at the same time.

The benefits of the Multi-chain Wallet Engine on Coin98 Wallet.

You’ll see these benefits clearly when using Protocols in the DApp Store on Coin98 Wallet.

The problem

When users conduct transactions with multiple wallets on a Protocol, if they want to switch wallets, they need to go to the Dashboard of the wallet they’re using and switch to another wallet, then connect this wallet to the Protocol again.

The usual process of using a wallet.

The reason is that you can only connect 1 wallet to the Protocol at a time, therefore, you need to switch between wallets and reconnect to the Protocol multiple times.

How does the Multi-Chain Wallet Engine technology solve the problem?

With the Multi-Chain Wallet Engine, wallets on different blockchains are activated at the same time once you access any DApp on Coin98 Wallet.

Therefore, you can instantly make a transaction with this Protocol, while switching between wallets and blockchains right on its website. There’s no need to go back to the Coin98 Wallet’s Dashboard.

How the Multi-Chain Wallet Engine operates on Coin98 Wallet.

The benefits of using the Multi-Chain Wallet Engine on Coin98 Wallet

Overall, when the wallets on all blockchains are activated at the same time, you can connect and switch between wallets, as well as between blockchains more easily and conveniently.

The process is only shortened by 1 - 2 steps, however, Coin98 Wallet believes that these 1 - 2 steps can drastically enhance your DeFi experience in a seamless & flawless way.

The potential of the Multi-Chain Wallet Engine

Nowadays, most Protocols operate on only 1 single chain at a time, therefore, users only need to use 1 wallet instead of multiple at a time to interact with a Protocol.

However, Coin98 believes Cross-Chain is the future. When the single blockchains are constantly growing, different Cross-Chain Protocols will rise to help exchange values between chains. These Protocols support multiple chains at once, therefore, a wallet needs to support multiple chains as well in order to connect with them.

The Multi-Chain Wallet Engine was made for this future: when all wallets on all single chains are activated, users can easily access these Cross-Chain Protocols.

The Cross-Chain Protocol on Coin98 Wallet.

Coin98 is also developing a Cross-Chain product: Coin98 Exchange. We’ll save this unique product and its in-depth information for another article.

X-Energy - The Incentives Program

Aside from our products and services, Coin98 Wallet also has the Incentives Program rewarding with X-Points to drive more users to explore different products of Coin98 Wallet.

X-Energy is created to encourage users to try out and explore various features of the wallet. Meanwhile, through the X-Point exchanging mechanism, Coin98 Wallet also has the chance to give back to our users for supporting us along the way.

Therefore, when a certain amount of X-Point is reached, you can use them to:

  • Claim or exchange for gifts and tokens on X-Store;
  • Claim special benefits offered by Coin98 Wallet;
  • Experience various X-Point-based games and events by Coin98 Wallet.
The X-Point mechanism on Coin98 Wallet

Overview of the Coin98 Wallet Operational model

Overview of the Coin98 Wallet Protocol.

To conclude, the highlighted features of Coin98 Wallet will focus on assisting users in:

  • Storing assets on multiple blockchains: with our Multi-Chain Wallet.
  • Managing assets: with Portfolio and Markets.
  • Swapping, Farming, Lending, Staking,...: with Multi-Chain Swap, Cross-Chain Bridge, DApp Store.
  • Getting rewards: with Earn & X-Energy Programs.

Comparing Single Chain Wallets and Coin98 Multi-Chain Wallet

Below is the comparison table between Single Chain Wallets and Coin98 Multi-Chain Wallets. Aside from allowing users to store and manage assets on more blockchains, Coin98 Wallet also has more services, such as Portfolio, Markets, DApp Browser, etc.

Single Chain Wallets and Coin98 Multi-Chain Wallet comparison table.

The future of Coin98 Wallet

Coin98 Wallet is an Aggregator product that has stabilized various of its technology platforms. Therefore, in the future, Coin98 Wallet can easily develop and expand to a larger scale be:

  • Supporting more blockchains.
  • Integrating more DApps for DeFi users.

The X-Store is also expected to be introduced in the near future, offering more benefits for Coin98 Wallet users.

Moreover, with the Cross-Chain vision brought to reality by the Multi-Chain Wallet Engine technology, Coin98 Wallet’s mission isn’t stopping at becoming an Aggregator DApp. Our goal is to become an indispensable part of the big Cross-Chain picture in the future, bringing users the simplest, most convenient experience in cross-chain trading.


Wallet is a competitive ground in the market nowadays, however, Coin98 Wallet is making a difference compared to other wallets.

With every little upgrade, every little detail and integration, Coin98 Wallet has shortened the processes for many activities by several steps.

It could be just 1 or 2 simple steps, but Coin98 Wallet believes that eliminating the unnecessary parts can contribute a lot to a flawless, seamless DeFi experience, bringing DeFi closer to more users.

To summarize the Coin98 Wallet Operational model, we have the following points:

  • The goal of Coin98 Wallet is to become an all-in-one DApp, fulfilling all users’ needs and demands.
  • To ease users’ DeFi journey, all Coin98 Wallet’s functions are constantly upgraded and shortened compared to other processes in DeFi.
  • More and more features are being integrated into Coin98 Wallet, with the latest being X-Energy and Cross-Chain Bridge.
  • Multi-Chain Wallet Engine is the technology that distinguishes Coin98 Wallet from other wallets in the market, making it one of the crucial parts of the Cross-Chain future.

What do you think of the Coin98 Wallet Operational Model - the first product of Coin98? Leave your comments below to discuss further together!

How It Works is a series that provides you in-depth knowledge about a Protocol, how it operates and the impacts it may bring to the future.

See you in the next articles of How It Works!

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