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.
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 granted 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 localized 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.
It is a friendly choice for new crypto investors who have the opportunity to generate more returns by investing in a closely monitored professional crypto fund. In addition, the fund movements are transparent and can be examined.
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 token can be converted into SIX on Binance Smart Chain for convenient use of the Definix platform.
In addition to Definix’s unique decentralized crypto fund system, the platform itself consists of Decentralized Exchange (DEX) and Farming allows investors to choose to invest and make profits in the crypto pairs provided by the platform as well.
This reputation propels Definix to a future change domestically and international level. Multi-chain networks are joined together to serve as a new integrated ecosystem. SIX is currently available on Stellar Lumen, Klaytn, and Binance Smart Chian.
What’s Featuring on Definix Milestone 1?
With a large platform structure, the SIX Network team has divided the development into two large parts. For the first phase or Milestone 1 FINIX’s Decentralized Exchange (Swap) & Liquidity Pool, Farm, and Genesis Pool are added to the SIX Network ecosystem.
- 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 off the platform as a profit.
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 will play a huge role in the platform when the Decentralized Multi-chain Fund Management in the second Milestone has been completed. FINIX holders (Ecosystem Token) 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.
Liquidity pools are one of the foundational technologies behind the current DeFi ecosystem. This pool is a collection of funds locked in a smart contract and is used to facilitate decentralized trading, lending, and many more in creating an explosion of on-chain activity.
Primary, FINIX is a governance token used on the Definix platform and can only be earned by staking an on-chain pair of cryptocurrencies. The Genesis Period allows users to stake in the single-sided pool for the first emergence.
A user may provide liquidity to the Finix pool with a single token staked and maintain 100% exposure to the assets. In exchange for providing funds, users will earn FINIX tokens in return for staking SIX.
Bridge SIX to Binance Smart Chain in Preparation for Definix Platform
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 Token can be converted into SIX on Binance Smart Chain for convenient use of the Definix platform.
SIX Bridge is the portal to convert the network of SIX tokens to fully leverage the tokens. The Bridge can convert SIX from each network to the final destination on the ratio of 1:1. This means that SIX holders don’t need to sell their owning SIX to buy SIX on the final network.
The SIX tokens will be stored on the Smart Contract of each network and will be carried out by the Smart Contract of the final network in the bridging process. This equals the reliability that the investors would have during the process. Making 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.
It’s a huge opportunity for Thai cryptocurrency to have a participate on the international level with Binance Smart Chain (BSC) for trading and utilizing SIX tokens. Originally, SIX Stellar has the market trade on Bitkub a huge exchange board of Thailand, and SIX Klaytn listed on the largest exchange in South Korea, Coinone. Therefore, having SIX on BSC would bring convenience for investors on Definix and expand more exposure to the alliance of the BSC users as well.
Get FINIX Tokens from Genesis Pool
SIX token holders on the Binance Smart Chain can put their tokens 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 stake SIX-BSC based on our single-sided pool during this period will be able to withdraw the SIX tokens in total amount once the Genesis Pool is over.
Genesis Pool will be available on the 1st of April 2021, time 03.00 P.M. (GMT +7) is a privilege for SIX token holders to gain early access to FINIX tokens and the tokens 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 token distribution is complete.
The introductory chapter of FINIX: Genesis Period, April 1, 2021, at 3:00 p.m.
A moment to celebrate the launch of FINIX Token (Ecosystem Token) that allows users to stake SIX-BSC prior.
The Emission Rate of FINIX Token in Each Period
FINIX tokens are only produced and regulated by Smart Contract, so the tokens are generated with limits during each period as follows.
The production capacity of FINIX tokens is 6 times in the first 72 hours during the Genesis Period; will be reduced to four times in the Rising Period; and 2 times in the Gliding Period, respectively.
When the campaign ends, the FINIX tokens production will enter the Full-Fledged Period that will be adjusted to normal production at 86,400 FINIX and burning 277 FINIX per day. This strategically maintains the optimal token supply and prevents token inflation caused overflowing of the FINIX in the system.
FINIX is also being structured for use in the next milestone. The next period is the Crypto Fund Investment with token holders able to invest in our Decentralized Multi-chain Fund Management Investment in the future.
Contract Address: 0x0f02b1f5af54e04fb6dd6550f009ac2429c4e30d
Chain: Binance Smart Chain (BEP-20)
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.
Invest in Definix Today
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