OpenSwap is an AMM DEX Aggregator that aggregates liquidity from multiple DEXs to provide users with the best price and liquidity rate. OpenSwap has an operational model similar to 1Inch Exchange, Kyber, Bancor, Matcha, ParaSwap, etc. Users can now trade C98 directly on OpenSwap.
OSWAP - the native token of OpenSwap, will be having its IDO on Impossible Finance in the near future. However, users can still get early access to OSWAP by staking C98 on OpenSwap. This article will guide you through staking and swapping C98 on OpenSwap step-by-step.
- Before staking C98 on OpenSwap
- Download and install Coin98 Wallet
- Create a Binance Smart Chain Wallet (BNB BEP20)
- Prepare BNB as gas fee
- Prepare C98 for staking
- How to stake C98 for OSWAP on OpenSwap
- How to stake C98 for OSWAP on Coin98 Mobile Wallet
- How to stake C98 on OpenSwap on Desktop
- Why should you use OpenSwap directly on Coin98 Wallet?
- Some final words
Before staking C98 on OpenSwap
Download and install Coin98 Wallet
OpenSwap is now available on the Coin98 Mobile Wallet for both iOS and Android users.
Read the detailed Coin98 Wallet installation instructions or watch the tutorial video below:
The Coin98 Extension Wallet is available on both Google Chrome and Firefox. Follow these below steps to install Coin98 Extension Wallet for Google Chrome:
Step 1: Open Coin98 Wallet Extension on Chrome Web Store;
Step 2: Click Add to Chrome;
Step 3: A pop-up notification displayed on the screen, please read it carefully. To approve, click Add extension;
Step 4: To use the extension, click the extension icon to the right of the address bar. This dropdown will show you Coin98 Extension Wallet is installed and enabled in Chrome
Tip: Pin Coin98 Extension Wallet for easy access in the next visit.
With Firefox, you need to download the file and follow detailed instruction to install Coin98 Extension Wallet here.
Create a Binance Smart Chain Wallet (BNB BEP20)
As OpenSwap is an AMM DEX Aggregator on Binance Smart Chain, you need a BSC wallet (BNB & BEP20) to use this platform.
After installing or updating Coin98 Wallet, you can follow the instructions below to create a BSC wallet (BNB & BEP20), or import an existing wallet on other platforms into Coin98 Wallet:
- How to create a Multi-Chain Wallet (recommended).
- How to create a Binance Smart Chain Wallet (BNB & BEP20).
- How to import Binance Smart Chain (BNB &BEP20) Wallets from Metamask to Coin98 Wallet.
- How to import Binance Smart Chain (BNB &BEP20) Wallets from Trust Wallet to Coin98 Wallet.
If you are already a Coin98 Wallet user, please re-import your multichain wallet to automatically update your own Binance Smart Chain wallet (BNB & BEP20) as well as other new wallets available in the latest version.
To start swapping on OpenSwap, please note that whether you’re using USDT, BUSD, C98 or BNB.... you have to transfer your assets to the BEP20 wallet beforehand.
In case you accidentally transfer money to TRC20, ERC20 or SPL wallets, don't worry, Coin98 Wallet supports the Cross-Chain Bridge to convert your tokens to BEP20 standard natively. This is considered one of the innovative solutions offered by Coin98 Wallet that allows users to experience more of the DeFi world within one single application.
Prepare BNB as gas fee
OpenSwap requires BNB to pay for the gas fee. Therefore, in order to swap on OpenSwap, you must have a proper amount of BNB.
Prepare C98 for staking
Currently, you can trade C98 on both CEXs, such as Binance, FTX, Gate.io, etc. and DEXs, such as PancakeSwap, OpenSwap, etc. However, we recommend swapping natively on the Coin98 Mobile Wallet or Coin98 Exchange to experience seamless and secure transactions.
Now everything is ready, let's start swapping.
How to stake C98 for OSWAP on OpenSwap
C98 Pool information (Updated on Aug 8th, 2021):
- Maximum number of C98 tokens: 733,333.33 C98.
- Current number of C98 tokens: 672,082,412 C98.
- Remaining time: 15 days.
- OSWAP distribution duration: 6 months.
- OpenSwap offers 2 staking options for users: 45-day lock time or 90-day lock time, each comes with a different staking amount and reward.
- Users can cancel the staking process any time, however, if the cancellation happens before the 45-day or 90-day period ends, they will not get any OSWAP token.
- OSWAP tokens will be unlocked after OpenSwap completes its IDO.
How to stake C98 for OSWAP on Coin98 Mobile Wallet
To access OpenSwap, after logging in, click Browser on the home screen and insert the OpenSwap address below on the search bar: www.openswap.xyz/#/
Step 1: Click the Menu icon at the top left corner of the screen. Click Earn ⇒ Fixed Staking Rewards. Your wallet will automatically be connected to OpenSwap.
Switch to a BEP20 wallet.
If you have more than two BEP20 wallets, you can select the preferred wallet by clicking the selection tab at the bottom right corner of the screen.
Step 2: In the Staking interface, scroll down to see the detailed information about each staking option and the remaining time of the campaign.
As I mentioned, there will be two locking period options to choose between: 45 days and 90 days. I’ll take the 45 days option as an example in this guide.
In the 45 days tab, click Stake (The maximum cap for each participant is 2000 C98).
Step 3: Enter the staking amount of C98 ⇒ click Approve C98. The system will then calculate a small fee, click Send to confirm and complete this step.
Step 4: Wait for about 10 seconds for the system to complete the transaction, then refresh the page and re-enter the amount of tokens you just staked in the previous step.
Then click Lock Stake to lock C98 tokens. The system will charge a small fee for this confirmation step. Click Send to pay and complete.
Step 5: After staking successfully, the system will display the exact real-time amount of C98 you’ve staked and the corresponding amount you’ll receive. Remember to check regularly on how much OSWAP you’ve got.
How to stake C98 on OpenSwap on Desktop
Step 1: To start staking, go to: www.openswap.xyz/#/staking
Click Connect at the top right corner of the screen ⇒ Choose Coin98 Wallet.
As OpenSwap operates on Binance Smart Chain and Coin98 Wallet currently supports this blockchain, your wallet can be connected to this platform.
Log in to the Coin98 Extension Wallet, then click Connect to confirm. The Coin98 Extension Wallet will automatically choose a BSC wallet to connect with.
Now the Coin98 Extension Wallet is connected to OpenSwap and is ready to serve.
Step 2: In the Stake interface, select your preferred option ⇒ Click Stake.
I’ll take the 90 days option this time, however, you can also choose the 45 days option and follow the same procedure.
Step 3: Enter the amount of C98 you want to stake ⇒ click Approve C98. The system will then calculate a small fee, click Send to confirm and complete this step.
Step 4: Wait for approximately 10 seconds for the system to complete the transaction, then refresh the page and re-enter the number of tokens you just staked in the previous step.
Click Lock Stake to lock C98 tokens. The system will then charge a small fee for this confirmation step. Click Confirm to pay and complete.
Step 5: After staking successfully, the system will display the exact real-time amount of C98 you’ve staked and the corresponding amount you’ll receive.
Remember to regularly check on the amount of OSWAP you’ve got.
After the campaign ends, users need to claim their OSWAP tokens. As the rewards vest linearly, users have 2 claim options:
- Claim periodically: Claim a small amount of tokens daily, weekly or monthly.
- Claim all at once: Claim the full amount of earned tokens after 6 months.
- Currently, each wallet can only stake with each option once.
- If the approval is not successful, you can go to BscScan and insert the wallet address to view the transaction.
- Scammers can impersonate projects and project members to try and scam users. Users should always check and verify these types of information with the official admins, on the projects’ official information channels.
C98’s official BEP20 contract address: 0xaec945e04baf28b135fa7c640f624f8d90f1c3a6
Congratulations! You have successfully completed the process of staking C98 on OpenSwap for both the Mobile App and the Desktop versions.
Why should you use OpenSwap directly on Coin98 Wallet?
For both newbies and DeFi experts, using OpenSwap on Coin98 Wallet brings undeniable benefits, such as:
Simple, easy to access
The DApp Browser is integrated in the Coin98 Mobile Wallet for both iOS and Android users. Just by clicking Browser on the home screen, you’ll be seamlessly taken to the marvelous DApp world to freely explore the best of DeFi.
You can also swap C98 tokens on the Coin98 Mobile Wallet or Coin98 Exchange easily and conveniently.
Minimized risks of scams
Coin98 Wallet constantly strives to find the most trustworthy AMMs with great use cases while prioritizing users’ security and privacy. Coin98 Wallet directly integrates the exact addresses of all AMMs on the app, which prevents the cases of searching and accessing fake AMMs that steal users’ Private Keys/Passphrases, or swapping scam tokens.
The Cross-Chain Bridge
Considered one of the most innovative features of Coin98 Wallet, the Cross-Chain Bridge allows users to interact with OpenSwap easily and convert ERC20, TRC20, SPL tokens to BEP20 tokens directly on the Mobile App without using third parties.
If you are inclined towards staking on OpenSwap after reading this article, why miss out on the great experience of trying other multi-chain DApps on the Coin98 Mobile Wallet DApp Browser?
Stay tuned for the upcoming planets that are about to be integrated into the Coin98 Wallet Universe!
Some final words
Hopefully, this article has been helpful in explaining and assisting you in generating extra profit by staking C98 to receive OSWAP on OpenSwap.
If you have any questions or problems, leave a comment below or join the Coin98 Wallet Chat - Global to get assisted.
See you in the next articles!