Definix’s Expansion to Klaytn Blockchain in Milestone 2

7 min readJun 16, 2021

It is so meaningful for Definix to be a part of Klaytn's ecosystem being supported by the world-class blockchain service and partnering up to help produce effective projects in every aspect.

Initially, Definix was running on the Binance Smart Chain and according to the roadmap, Klaytn blockchain will be the essential switching point for this DeFi platform to gain traction despite country barriers.

What To Expect To See On Definix Milestone 2?

After the launching of the first milestone of the platform, Definix team has never stopped topping the performance in developing a better version for Definix users to experience including the decentralized fund management feature.

The trend of blockchain and DeFi investment in South Korea has been awakened with the movement from Klaytn with SIX Network’s DeFi platform by joining Klaytn’s ecosystem. Absolutely, this partnership would make Definix go strong.

Decentralized Exchange (DEX)

Allow users to exchange their assets with the existing asset listing on the pool. The DEX will not keep any user information and the platform is not requiring KYC process. All of the exchange transactions will be recorded on Klaytn blockchain. Users will be the ones who pays for the gas fee in KLAY on their own. The gas fee is not collected by Definix, we only collect the trading fee. Full information about fees can be found at “Fee Structure”.

Liquidity Pool

Liquidity Pool allows users to supply liquidity to the pool and as a return users will receive a share of liquidity provider fees. The liquidity provider fees are divided among the shares of the liquidity provided in the pool. Moreover, the Liquidity Provider token (LP token) can be obtained as a proof of liquidity ownership. For the list of pools, you can see more in the “Pairs” session.

Farm

Farm allows users who have LP tokens to stake their LP tokens and earn extra rewards in addition to liquidity provider fees. They will receive FINIX as a reward for the staking.
Farm allows deposit on 21st June 2021 at 11:00:00 AM. (GMT+7)
Rewards starting on 21st June 2021 at 3:00:00 PM. (GMT+7)

Fee Structure:

Trading Fees:

When the user makes a token swap (trade) on the exchange the user will pay a 0.25% trading fee, which is broken down as follows:
0.20% — Returned to Liquidity Pools in the form of a fee reward for liquidity providers.
0.05% — Sent to the Definix Treasury for platform maintenance and use for buyback and burn purpose of deflation mechanism.

Gas Fees:

Every transaction or submission made on Klaytn will be paid with KLAY to Klaytn network.

Path Via FINIX Bridge To Start Investment On Klaytn Blockchain

Bridge is always the technology Definix involved for users to transfer FINIX BSC-based, in this case, to klaytn.definix.com to the new opportunity in Klaytn environment.

Users are able to collateral their FINIX (BSC) bridging for FINIX (Klaytn) with a simple transfer wizard and tricker by smart contract directly.

The importance of the bridge mechanism is designed to stabilize the supply level in the ecosystem, in purpose to maintain production level on the Klaytn side. By keeping the produced supply as low as possible is to maintain the inflation rate and prevent a drop-down of the FINIX price.

What Is Bridge?

The bridge is the interoperability tool for users to bring the asset across the network with a simple method under cross-chain operation. Completely functioning to transform asset property to comply with the destination chain.

How Does Bridge Work?

The ratio of transferring the collateral amount of the same asset on different networks is 1:1 to the final destination wallet selected. Every work is collectible on the account of a smart contract.

Get FINIX Ready Via FINIX Bridge

Users are allowed to bridge FINIX from BSC to Klaytn chain on 18 June 2021– 3:00:00PM (GMT+7). The efficient blockchain structure resulting in lesser processing time, but no more than 5 minutes time gap during the bridging of FINIX with normal traffic.

Notice: During the first period, FINIX will be supplied, estimated, 500,000 FINIX on Klaytn. The time in processing bridge may take up to 8 hours maximum during a high traffic situation due to smart contract timelock of FINIX production that has been deployed and cannot be altered.

Klaytn-based Liquidity Pools And Farms On Definix

Special launching period Definix on Klaytn will be giving a special bonus rate until all KLAY tokens are distributed completely. Every farm on Definix Klaytn-based will come with bundle rewards simultaneously which are FINIX and KLAY until all airdrop tokens are depleted.

The reward distribution proportion for each farm is listed below:

* FINIX will be allocated from the daily production rate of 86,400 FINIX/Day

** KLAY will be allocated from the total KLAY sponsor by KLAYTN

‌Ticker: FINIX

‌Chain: Klaytn (KIP7)‌

Extra Emission Rate for Klaytn Launch Period:

The duration of the special token generation rate will last 1 month with an emission rate per block of 1.5 FINIX only on the Klaytn-based Definix platform. After the special period has ended FINIX will enter the normal emission rate.

Airdrop Alert For New Emergers On Klaytn

DefinixKlay airdrop period in the celebration of full launches of Definix on Klaytn chain. SIX Network is thrilled to offer airdrop campaigns to every investor who falls under the criteria listed down below.

The 1st airdrop's total value of $100,000 can be claimed through bsc.definix.com (before the launching of klaytn.definix.com) located on the top banner of the page.

Pioneer users from bsc.definix.com from 1st April 2021, 3:00:00 p.m. — 12th June 2021, 11:59:59 p.m. (GMT+7) from records.
Claiming period starting on 21st June 2021 10:00:00 AM — 20th July 2021 9:59:59 a.m. (GMT+7)
Must claim/have/had FINIX reward in the wallet during the period mentioned above.
Only users considering are able to claim airdrop price with an address matching with the screenshot block of a specific time period as mentioned.
Input the destination wallet (KIP-7 supported) on the claiming page.
All the airdrop activity is performed and triggered by the action of the smart contract. In case the user puts in the account that the user doesn’t have a private key; the airdrop cannot be claimed and will be lost forever.
The remaining airdrop amount will be total in Klaytn Surprise Airdrop.

2. Klaytn Surprise Airdrop $200,000

The next airdrop is purposely for people who fall under the criteria for claiming the airdrop from the first campaign.
Must have LP staked on Definix Klaytn-based during 21st June 2021 3:00:00 p.m. — 20th August 2021 9:59:59 a.m.(GMT +7).
The airdrop will be automatically distributed 30 KLAY within 48 hours to the wallet address that used on klaytn.definix.com after supply liquidity and received LP token from klaytn.definix.com.
Users must connect the same wallet used in claiming the airdrop from the first campaign.
Airdrop is limited and distributed in a first come first serve method.
All the airdrop activity is performed and triggered by the action of a smart contract. In case the user puts in the account that the user doesn’t have a private key; the airdrop cannot be claimed and will be lost forever.
Airdrops will be distributed to all users equally which sums up to $200K plus unclaimed airdrop from the first campaign per account sums up to $200K plus unclaimed airdrop from the first campaign per account.

KLAY Airdrop: Bundle Reward (Bonus) total value of $200,000

Klaytn bundle reward distribution in farming on klaytn.definix.com.
Klaytn token will be rewarded to all the users who stake their LP in the farm as an extra bonus bundle with FINIX as a fundamental interest.
The bonus bundle rewards are the intention of both Klaytn and Definix to distribute the token to all investors.

Halving:

FINIX token has unlimited supply based on its property of smart contract minted. In order to prevent inflation that might occur due to unlimited supply, we have prepared the preventive solution before the inflation takes place. FINIX token will be halved annually based on the smart contract schedule.

Summary

Definix has started the journey by launching the SIX Bridge during the first quarter of the year 2021 and made a grand opening right after with a soaring high volume of TVL and receiving more attention from newbies and professional traders across many countries.

Bringing digital investment closer to daily life example in the farms and pools, rewarding in FINIX token, or DEX to simply swap token decentrally. The new milestone of the Definix platform will be beneficial for investors who have a need to explore more with crypto fund management.

This will greatly generalize the way of investment for those who have no time to make a move during the day and relying on a fund and the fund manager.