Definix Enters The Klaytn’s Ecosystem Featuring SIX Bridge And Receive Bonus in Genesis Pool
After SIX Network announced the development of the DeFi platform earlier this year. Today, we officially launched its Definix platform on the first Milestone initially runs on Binance Smart Chain. With the bonus from the Genesis Pool, all investors can access the unlimited DeFi farm experience.
The blockchain that the creators believe and can make the most of is Binance Smart Chain, and it has the potential to expand to other blockchains. In the future as well
Klaytn’s presents in the Definix protocol is the biggest move from our old alliance to reassure our relationship as a business partner, supporting us every experience in SIX Network’s milestone.
Definix: Decentralized Multi-chain Fund Management Protocol
Definix is a DeFi platform that was made to be “Decentralized Multi-chain Fund Management Protocol” or a decentralized crypto fund management system that supports various blockchain networks. The highlight of the platform is a space grant for crypto traders to open their own crypto funds (User-Generated Fund) on the platform and generate more returns from fund management.
Definix is making strides in the crypto industry in Thailand. It was initiated by SIX Network’s desire for investors to have the opportunity to truly localize the space in DeFi for investment on a simple and easy-to-understand system for those who are interested. Facilitates experienced investors to create and manage their own funds if they pass the Definix criteria.
As the Definix platform initially runs on the Binance Smart Chain and will expand to the Klaytn on the next milestone; SIX Network provided a tool called SIX Bridge to facilitate investors holding SIX tokens, either SIX-Stellar or SIX-Klaytn. The existing coin can be converted into SIX on Binance Smart Chain for convenient use of the Definix platform.
Getting Start on Investing in The DeFi space
Introducing the backbone of the DeFi protocol consisting of Decentralized Exchange (DEX) & Liquidity Pool, Liquidity Provider Token (LP Token), and Ecosystem Token.
- First, the Pool is where investors lock their funds inside, in return, they harvest returns according to APR or share of pool percentage which the action here is called to do farming.
- Second, Liquidity Provider Token or LP Token is acting like a stake where investors can obtain this special token by providing liquidity to the DEX of the protocol.
- And Third, Ecosystem Token is a special token only used inside the ecosystem of individual protocols and can only be gained by staking the LP Token inside a pool.
What are FINIX Coin and The Properties of it?
FINIX token is the ecosystem token of Definix, made specially to identify the farming activities inside the platform. FINIX can only be earned by staking cryptocurrency supported on the platform. The privilege for the token holders is that they can participate in other financial activities especially the investment fund in Phase 2.
FINIX will play a huge role in the platform when the Decentralized Multi-chain Fund Management in the second Milestone has been completed. FINIX holders help direct, shape, and mold the platform as well as use it as a fee discount for investing in funds and financial products on the platform.
These three parts are essential to pave the way to Decentralized Multi-chain Fund Management Protocol until Milestone 2. Definix is not just another alternative DeFi Swap. But packed with investment information and crypto funds that are monitored closely by our experts.
What’s Featuring on Definix Milestone 1?
- Decentralized Exchange (DEX) & Liquidity Pools
Decentralized exchange of cryptocurrency is commonly known as “Swap”. Traders can swiftly exchange for the currency they need without the needs of any counterparts.
For that use, the exchanged crypto can be added to the liquidity pool in the system and gain benefit from transaction fees of the platform as a profit.
- Farms
In the first step of being able to do farming, investors obtained the Liquidity Provider Token (LP Token). Then investors are pronounced to stake LP Token inside the Farm and collect incentive calculated from Annual Percentage Yield (APY) passively with no hard work to be done.
- Crypto Fund Investment
Investing in the crypto fund on Definix platform is suitable for both experienced and inexperienced investors. Definix has a risk calculator to estimate the rating risk and advise the best choice of fund for each individual.
- Finix Challenge
It is such a great opportunity for interesting investors to open their own funds on our platform to harvest more fruitful profits than just derivative tradings. The User Generated Fund will grant the access to create, manage, and benefit from becoming the fund manager by simply passing our criteria. This will help increase the activity within the economy of trading and allows each trader to grow along with the platform.
The Finix Challenge is designed critically to guarantee that the owner of the fund is professional and ascertain to bring benefit and knowledge as a whole.
Definix will provide fund managers with the tools efficient for creating the fund on our platform, in return, they will receive a management fee as a profit.
SIX Bridge: The Portal For Crossing Over Blockchain
The bridge is the transparent, fast, and most secure way to convert SIX across Stellar Lumen, Klaytn, and Binance Smart Chain networks spontaneously.
SIX Network has developed a new feature named SIX Bridge which will help investors to convert their assets from one network to another with ease and helps to provide the liquidity of each network as well.
The Smart Contract is involved in the bridging system. Users can make sure that their assets are 100% secure and because the system is decentralized, no main entity would take hold of the assets along the process of converting.
Get FINIX Coins from Genesis Pool
SIX coin holders on the Binance Smart Chain can put their coins into the system (Stake) to receive FINIX coins from the Genesis Pool. The FINIX coins will be distributed during this time in the grand total of 1,555,200 FINIX in the first 72 hours.
Users can add liquidity to the Finix Pool by placing only one token and keeping their ownership of the coin with them. 100%. People who put SIX coins into the system during this period will be able to withdraw the SIX coins in full once the Genesis Pool time is over.
Genesis Pool will be available 1st of April 2021, time 03.00 P.M. (GMT +7) is a privilege for SIX coin holders to gain early access to FINIX coins and the coins obtained will be able to be used to increase the liquidity within the system. The Decentralized Exchange and Farm system will be activated after the Genesis Pool coin distribution is complete.
Ticker: FINIX
Contract Address: 0x0f02b1f5af54e04fb6dd6550f009ac2429c4e30d
Chain: Binance Smart Chain (BEP-20)
Reference: Gitbook
The Solution in Bypassing High Gas Price to do Bridge on Definix with Klaytn Blockchain
Reducing the cost of the transaction fees is our goal to handle the burden investors have to hold. A trusting blockchain like Klaytn is here to create a profitable way of trading.
DeFi platforms are being in the spotlight and rapidly springing like wild mushrooms recently evidenced with a heaping 43.19 billion U.S. dollars in total value locked.
The list goes on for reasons investors entered and quite the DeFi game. It could be that the coins are on the bearish side, tedious instruction, confusing function, or maybe because of its transaction price.
The Lower The Gas Price, The Higher The Profit
The property of Klaytn blockchain is significantly cheaper in fee and more efficient transaction speed. It is proof to be stably reliable in providing the solution many protocols have longed for.
The gas price charge is approximately 0.000000025 Klay or 0.000015 KRW, when compared to other blockchain is comparatively inexpensive. The users of Definix can enjoy frequent transaction orders and obtain a full return on investment without having to worry about expensive fees each time.
The key strength of Klaytn is that the system is designed to handle a large number of transactions for a very low fee. This will be the advantage for holding such a large scale of transactions on the next Milestone in Multi-chain Fund Management Protocol.
Growth in The System Change For an Expanding Opportunity With The Powerful Alliance.
Not to only mention the strong infrastructure of the blockchain SIX Network is also a business partner with Klaytn, created by Ground X, a subsidiary of Kakao in South Korea.
The parent company of SIX Network, Future Stream Network (FSN) has joined Klaytn Governance Council, a consortium formed by leading companies and organizations from various industries such as LG International, Binance, Huobi, Gumi, and more.
The treaty was formed to direct and jointly shape the ecosystem of platforms and blockchain-based applications. The Klaytn chain is growing, and the presence of the SIX Network in this alliance means more windows of opportunity for the business association.
Moreover, together with SIX Network being a part of the Klaytn Governance Council cumulative growth of Definix prospect is quite exciting.
And Definix is a multi-chain protocol in which we value the diversity in the ecosystem of Stellar Lumen, Klaytn, and Binance Smart Chian.
Next Leap Forward on Definix
The first milestone will be the fundamentals of Definix V1. SIX Network will be ready to release the Crypto Fund Management featuring the accessibility for interested investors to build, plan and manage their own fund. The FINIX can be used for other investment products that operate on the Klaytn Blockchain in the near future.
The next milestone of the Definix platform will be one of the best choices for crypto investors unreservedly. In this phase of Definix investors are able to choose to invest in the crypto fund that is proctor by the crypto expert closely. This will generate fruitful benefits for every trader.
Summary
Definix brings an innovative way to invest in the crypto fund platform; it is to be the advancement for the technology that helps new and professional traders engage in the crypto market effortlessly. Also, it is a great terminal for professional traders to operate their own crypto fund like never before.
Please get in touch with our latest news and official press from these channels:
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Definix Facebook Page: https://www.facebook.com/definixofficial
Definix Twitter: https://twitter.com/DefinixOfficial
Medium: https://medium.com/six-network
