Coin98 Vault is designed to be a safe way for storing and automating token distribution, allowing for a step-by-step decentralization process as trust in the codebase.
Simply put, the Vault is a crypto storage system for managing assets (tokens/NFTs). Users can quickly and easily claim the rewards and get periodic payments by using this feature, while project owners can automate token distribution and more.
Mr.X plans to distribute 1,000 C98 (airdrop token distribution) for 50 winners (50 wallet addresses) on December 12nd, 2021.
Firstly, Mr.X will plan the scheduled distribution containing 50 wallet addresses with a specific amount on Coin98 Vault.
Secondly, Mr. X will execute the schedule and the received address on Coin98 Vault.
Then, in the (received) users' wallets, they will receive the notification on Coin98 Super App.
Lastly, on Dec 12nd, 2021 50 winners can claim their token distribution.
Currently, Coin98 Vault is supporting 11 blockchains: Ethereum, Binance Smart Chain, HECO Chain, Tomo, Avalanche, Fantom, xDai, Polygon, Okex Chain, Celo, Harmony. Coin98 Vault also enhances the experience by not limiting the receiving address in a single event.
Coin98 Vault brings asset management to a new level, allowing users to fully control how they spend and split the assets by assigning the permissions to specific addresses at a determined schedule.
In addition, in the context of protocols, the vault plays the role of storing assets, then granting access to 1 or more contracts and can be customized without depending on a fixed contract. Coin98 Vault makes everything much more transparent and flexible.
This feature is a useful and fee-saving tool for a team leader to distribute funds to their members or a project owner to arrange tokens for investors/ users according to their plans. More advanced use cases will be updated in the future.
Users can now simply track and manage all of their token claim/payment schedules thanks to this feature. The countdown makes the waiting time less stressful because not knowing when the thing you’re waiting on will arrive is especially excruciating.
Furthermore, the process for users to claim incentives or get scheduled payments on Coin98 Vault has been refined and streamlined to the fullest, with users receiving tokens with just one click.
Vaults can store cryptocurrency just like regular wallets. Besides that, Coin98 Vault is built in such a way that its contract is independent of the protocol contract, ensuring that security is always a top priority. In addition, Coin98 Vault was audited by Slow Mist - a popular Blockchain and smart contract audit company. This means users do not have to worry about any individual who may want to access their funds if the protocol eventually gets hacked.
Vaults can also be used among several owners, allowing you to share ownership of the tokens included. Coin98 Super App will include the multi-sig feature in the future, requiring authorization from all owners before anybody can withdraw or take tokens from the vault, offering an additional degree of security.