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Category: News and Updates

Definix Q2-3 Updates : What We’ve Done, Fund Management, and What to Come

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Definix Q2-3 Updates : What We’ve Done, Fund Management, and What to Come

Building of fund management protocol

Table of Contents

It’s been a little while since the beginning of the year 2021 have thrown us through ups and downs which led SIX Network to successfully launch the DeFi platform, Definix , with a position to be a multi-chain fund investment protocol. SIX Network decided to slowly introduce to the new market about what is DeFi and how to make the most out of it by allowing the money to work for you passively receiving income.

 

Our year started with the launch of SIX Bridge and immediately followed by the platform Definix on Binance Smart Chain (BSC). Along the way we’ve added multiple farms and major updates to make Definix become a better place to invest with a visionary to help you reciprocate much more in the long term.

Although it’s been half a year and June is coming to an end which means that it’s almost the end of the 2nd quarter too. It might take a whole while that we are trying to accomplish from where we left. Some of the roadmap was achievable, but some features weren’t accomplished due to many concerns such as security, test function, and different infrastructure.

 

We conceptualized the roadmap stated on Definix.com, accordingly, in the second quarter consisting of three important things: (1) SIX Bridge to another blockchain network, (2) crypto fund investment, and (3) paper trade on chain (fund manager recruitment).

Q2 The Foundation Built

During the past couple of months SIX Network have been putting efforts to build the most solid foundation in preparation to versify the expansion of the new coming feature Definix have promised of fund investment protocol.

Creating World-class Security DeFi Standard

Definix ecosystem and expansion

Expectations of investors who stick around with Definix long enough seem to have interest with the fund management protocol yearning to experience the function as soon as possible. Partnership is helping with the formulating foundation to enhance Definix reliability and the ability to develop the progression in this tower of skyscrapers.

 

Audited smart contracts from CertiK and TechRate will boost the trustworthiness of the platform with CertiK Skynet, an algorithm protector of potential danger up on service 24/7. Nonetheless to say, Definix is covered up with Soteria Mutual Insurance and CertiKShield which is on the highest level to acquire.

Definix on Klaytn

This is a big move for Definix in this quarter. We’ve launched Definix on Klaytn blockchain. The expansion to Klaytn is a strategic move that helps Definix to make investors in South Korea more convenient to invest in the platform. Also, with the well performances of Klaytn, it empowers Definix to be able to scale to the larger market easily. This is also the preparation for Klaytn fund management protocol that will come very soon.

Klaytn partnering with SIX

FSN Aisa – SIX Network signed MOU officially with Ozys on the 8th of June this year. Ozys, as a blockchain provider, will comprehend SIX Network with the opening of the market to South Korea.

 

Ozys have experience developing a DeFi protocol under Klaytn Ecosystem which is KLAYswap and have their own bridge system known as Orbit Bridge.

 

Predominantly, SIX Bridge is the channel that transmits and converts essential assets SIX token to Binance Smart Chain and an addition to the opening to be able to use Definix Klaytn-based the upgrade was made to allow transferring FINIX from BSC to Klaytn Blockchain in this quarter. New farms and pools are added to Definix on Klaytn together with the airdrop period.

Q3 Decentralized Fund Investment

The expansion of Definix to Klaytn Ecosystem is one of the aspects in building up a bedrock of the platform of being the “decentralized multi-chain fund investment protocol”.

Since the large scale of both networks BSC and Klaytn blockchain by Ground X, subsidies of Kakao internet giant in South Korea, are different in their architecture and security concerns, we’ve decided to separately launch Crypto Fund Investment as Definix’s main feature into 4 phases.

• Pre-Phase: Internal Fund System Test

Period: Processing period during last week of June to second week of July 

Internal fund or in-house fund as we insist are about to be open for. During this time SIX Network development team are in the process of testing out the full functionality, pre-setting the funds that will be available and other security details on the smart contract that has to be tested.

 

• Phase 1: Definix Rebalancing Fund on Klaytn

Period: Second week of July

Definix investment fund will be launched with various themes. All funds are managed by experienced traders using rebalancing strategies to start with. The new tool on Definix is the rebalancing interface that will help sort the adjustment of the investment portfolio to return to balance at a preset interval.

Introducing the fund system to professional traders during this phase. Fund themes that might have an appearance are altcoin, governance token, high cap, etc. for instance.

 

•  Phase 2: Fund Management Protocol on Klaytn

Period: Within Q3

The main feature of fund management protocol will be officially open in this phase. Interested investors and professional traders are welcome to open their own fund managing pool of their crypto funds utilizing crypto assets on Klaytn blockchain.

 

• Phase 3: Fund Management Protocol on Binance Smart Chain

Period: Within Q3

As the main reason concerning security and infrastructure on both blockchain, we decided to manipulate the fund management protocol on BSC after launching it on Klaytn network. When everything has settled down, expansions are needed on both networks resulting in more options for fund managers to settle in.

Paper Trade On Chain

According to the roadmap set from the beginning of the development, SIX Network has given interest to create a paper trade on chain that will be the criteria examining professional traders known as the FINIX Challenge.

 

And by passing this test users will be recommended to a fund manager on the Definix platform. Along the way of development with numerous papers studied, we’ve found a better system to examine the trading history which is through smart contracts examination.

 

Therefore, this has been discovered during the “Definx Trading Tournament” in May where we start creating and testing the new inspection system at the backend which turns out to become a better choice and fast facility.

 

Continuously, SIX Network Developer and Management Team have decided together to improve the system and use our new Finix Examiner instead of the old paper trading system.

FINIX Utility

 

Since fund management is coming, Finix that you’ve got from the platform will be useful for activities that will happen on the platform. Because we separate fund management protocol launch process into phases, the use of Finix will be introduced one by one in each phase. At this moment, we’ll explain to you the big picture first.

Overview of Utilities of FINIX


✔ The first thing you’ll see at the early stage of the fund management protocol launch is the use for Definix Rebalancing Fund. Users will get a discount on withdrawal fee if the fund manager puts FINIX as a part of the portfolio. That will make the fund that uses FINIX become more attractive for investors to invest.

 

✔ For general users, FINIX will be able to be used as a discount when invest in certain funds. That means less fees and more profits on investment.

 

✔ For fund managers who want to be qualified fund manager by Definix, they have to apply for the FINIX Challenge to test their abilities. FINIX will be required here as challenge fees. When they pass, they will become a qualified fund manager and have a chance to get further supports from the platform.

 

✔ FINIX will be used as a fee for using Definix’s financial product that will be release to help users reduce risk and get more profits such as price insurance and more to come in the future.

 

The various uses of FINIX is very important to Definix ecosystem since it can lead to the process of supply shortage and create a positive impact to the price in the long term. We’re going to have a dedicated article to explain more about each use one by one at the time we introduce the related feature.

In Conclusion

The more the time has passed the more SIX Network gain knowledge and experience to make Definix platform shape and shift to a better version such as Token Swap, DEX, Pools and Farms. Now comes the Fund Management Protocol in process to be available in this coming quarter of the year in hope to provide the optimal solution for DeFi enthusiasts.

 

Finally, Definix main focus on investing in DeFi is not just Yield Farming, but the team intends to keep all digital asset investments under a transparent system, can be recheck, and assets that are blooming can be gained by investing in the Fund Management Protocol feature with strategies like the Rebalancing Strategy. No conditions apply whether you have experience in any form of investment or not. All the funds will be taken care by a team of experts.

Definix on the brighter side

Don’t miss out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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SIX Network launches “Definix” website in preparation for the DeFi platform to be released.

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SIX Network launches “Definix” website in preparation for the DeFi platform to be released.

definix-launched

Table of Contents

SIX Network launches “Definix” website in preparation for the DeFi platform to be released.

SIX Network officially unveiled the name of the DeFi project that is being constructed during the beginning of the year 2021 and the definix.com website is ready for DeFi experience.

A Sign of a Time to revolutionize the Financial World

Definix, a new DeFi platform from the developer of SIX coins. The story to the name of Definix comes from the conjunction of the two words DeFi, which stands for Decentralized Finance and SIX. In the first stage it was called Defisix, but then distorted to Definix because the pronunciation of the word is more catchy. Thus the name has a consonant sound similar to the legendary creature, the Phoenix. Which symbolized the power of change, rebirth, and hope.

What’s Inside definix.com?

 

The composition and layout of the Definix website are styled with simplicity. But the most importantly the Definix from SIX Network on this milestone is to clarify the significant features in Definix Ver. 1 aim for crypto traders who are interesting as of:

Decentralized Exchange (DEX) & Liquidity Pools 

 

The exchange that occurs in DeFi with cryptocurrency is decentralized and is commonly known as Swap which helps traders to swiftly exchange for the currency they need without others in contact.

 

For that use, the exchanged crypto can be added to the liquidity pool for the system and gain benefit from transaction fees off the platform as a profit.

 

Farms

 

In the first step to being able to do farming, investors are received with 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

 

The crypto fund investment is suitable for experienced traders, desiring to expand their investment into the fund. The traders are able to choose a desirable fund with a risk calculator enabling them to be advice for the most appropriate fund.

 

And the highlight of Definix is that the fund is made on the Decentralized Finance Protocol; which means that all of the assets are not managed by one single entity and every activity on the platform must run according to the Smart Contract. It is traceable, transparent, and vulnerable to change.

 

Finix Challenge –  The Chance for Every Trader to Have Their Own Crypto Fund

Despite every feature, this is the foremost feature of the Definix platform offers for every trader. We allow each interesting experienced trader to open their own crypto fund underlining with the paper trade on-chain called the Finix Challenge.

 

The Finix Challenge is designed critically to guarantee that the owner of each fund on the Definix platform is professional and ascertain to bring benefit and manage the fund.

 

Definix will provide fund managers with the tools efficient for making the fund on our platform and also receive a management fee of your own crypto fund.

 

The opportunity offering here for professional traders to capitalize their own crypto fund on Definix is called User Generated Fund. It increases the activity to create the economy of trading and allows each trader to grow along with the platform.

 

Definix prepared the professional traders with the instrument that helps each trader to trade freely and as much time as desired, unworried about the transaction fees allowing the fund manager to utilize the resource in maximization.

Advancement of Technology for Every Crypto Investor

“The crypto world is moving rapidly. Our team is constantly researching new technologies and implies them to our platform in order to make Definix the most beneficial for users.”

This may be a sign of change, aside from the technology we used, we might as well implement the other technologies for the Definix platform further.

 

Last but not least the Definix platform will be run on the Binance known as Binance Smart Chain. This is the head start to an innovative evolution to the technology and this will become a competitive market domestically for crypto space.

Summary

Definix is made for crypto investors and we believe the platform 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.Hope that we will not have to wait any longer to absorb the full experience of Defnix.

Come back for more promising announcements and updates.

Stay tuned with us on these channels.

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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[MAJOR ANNOUNCEMENT]: The Beginning of The New Thing

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[MAJOR ANNOUNCEMENT]: The Beginning of The New Thing

Compound Finance

Table of Contents

You have likely heard of decentralized finance (DeFi) if you are an active or casual participant in the blockchain industry and DeFi has been getting more and more spotlight in one to two years period. 

 

SIX have been participating and eager to expand the services to another level in the near future. The current movement is being powered by Ethereum, which offers an open and permissionless system that is easily available to everyone. 

 

Many categories of DeFi apps are blooming swiftly, in this blog I will introduce you to some of the real-world use cases and categories built on the space of blockchain which are: DeFi, NFTs Marketplace, Games, and Exchange. (According to DappRadar)

Fearless Way to Handle Assets

 

Without a use case or benefit to the user it is always problematic to gain traction and achieve mass adoption for DeFi similar to mobile device application revolutionary a decade ago. 

 

The centerpiece of DApps is powered by Ethereum having open financial platforms in payment, lending, trading, derivatives, and prediction markets. This interoperability helps companies graduate the value of products by easily leveraging other innovations in the industry.

In a brief definition:

• DeFi : The freedom from the monetary control of centralized institutions acts as the exchanges, liquidity provider, and lender.

 

• NFTs Marketplace: Non-fungible Tokens are becoming more trending as off crypto collectible art, gaming, virtual assets, real-world assets, and identity with lucrative collectibles market to eliminate fraud in the entertainment industry.

 

• Games: Just like any ordinary game but runs on blockchain technology in the backend, not from a single server like traditional architecture. Featuring the ability to purchase and store items on the blockchain that is transferable to the wallet.

 

• Decentralized Exchanges: DEXs enable cryptocurrency holders, on a peer-to-peer basis, to directly trade with each other without having to trust an intermediary or each other.

SIX Unwrapping the New Phase of Finance

 

Diving in deeper from SIX Network’s point of view, the decentralized app for finance as introduced earlier

is the ultimate movement that we aspire to become like one.

It is a big story in 2020 for this ecosystem to shift attention to what’s relevant to build brand awareness and maximize revenues.

 

Having regards to the quarter 3 movement we participate as one of the Klaytn alliances with the objective to explore a new opportunity in the crypto space.

 

We’ve worked non-stop for months and discussed with Klaytn intended to revolutionize the solution for digital finance. From the last blog post, we brought you fresh insight information on what we have worked on so far in Q3-Q4. But that’s not all we have to tell you.

 

Now things are settled and soon we might be ready to announce something new.

“I just heard of the decentralized finance in 1–2 years gap, I think it is a good idea to try and push this to work in real life,” said Be.

Something Big is Coming!

“One more thing…”

- Steve Jobs

Just as you think it’s all over we at SIX never stop reinventing the digital economy to a better place contributing to everyone. The famous quote from one of the world’s greatest CEOs enables us to make the year 2021 greater than before.

 

And Yes, we have that “one more thing” to tell you before this year ends. In the upcoming year, you’ll see from us our brand new product in collaboration with our amazing partner.

 

Referral to Dune Analytics shows a cumulative total number of unique DeFi user addresses grown rapidly around 11 times over the past year. From July until November, the DeFi ecosystem went from $4 to over $14 billion which is a massive move.

It appears that by the first two quarters of 2021, the search for DeFi on Google trend search might as well go higher and get noticed more than the blockchain itself theoretically from Google Trends; analyzed from the past twelve months.

In fact, we searched and reason out to see that in order for blockchain developers to cater to wider audiences and achieve mass adoption, it would be better for developers to conceal blockchain technology in the background and simply provide consumers with consistent and beneficial experiences.

 

So we decided to hop on this train since many investors are starting to think of investing in decentralized applications. It’s not too late for us to develop this new product.

We’ll See You Soon

 

Ok, enough for the hint.

 

To wrap this up, it was a long journey for us in this vast space this year. SIX desires to reinvent the financial service in DApp for 2021. Gradually step-by-step we are emerging our services available for everyone which will be simple and scalable.

 

Rebranding is the effort to spike back to the consumers in some cases, many giants in the field have begun to reach out to capture the utility it provides for its users where the application offers services that allow people to lend, borrow, trade, and make insurance service without mediators or banks.

Have DeFi now been attached to the entire industry? Or are we hyping on the cycles that are triggered by the rise of new money-making opportunities? Only time will tell.

The decentralized app for finance doesn’t seem to be impossible, but what could have been the thing on our scheme? Is it yield farming with promising 2 or 3x returns, lending platform, funding, or are we into DEXs?

 

Here’s the clue

Can you guess what it is? Well of course it is a BIG project in the sense of elaborating, working, and planning. One thing we’re certain of is DeFinitely a thing you guys would want from us.

Come back for more promising announcements and updates.

Stay tuned with us on these channels.

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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SIX Network Q3-4 2020 Update

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SIX Network Q3-4 2020 Update

Q3-4 2020 update

Table of Contents

In the last two quarters of the year 2020, SIX Network has never stop reinventing and developing what we have on hands to create solutions in which will help eliminate manipulative digital data utilizing blockchain technology.

 

Here are the three considerable moves during the third and fourth quarter, which are (1) ‘snap’ in collaboration with Claim Di, (2) the new highest price of SIX, and (3) new wallet feature in ‘snap’.

‘snap’ in Collaboration with Claim Di

 

Thai InsurTech, Claim Di has announced the collaboration with ‘snap’ powered by SIX Network in late August 2020. ‘Snap’ application has the main role to deduct and zero out the image modification when clients issue the insurance policy.

Our profession is to leverage the blockchain system into the new era of the digital insurance system.

Adopting Captured-Locked Image (CLI) from its in-built ‘snap’ application by verifying the specific location, weather condition, shade, and lighting, etc from the real-time photograph taken.

 

After all the algorithms have been verified as a true image, the insurance company will get an alert from the claimant the insurer can calculate precise cost payment of damage. It is fast and efficient for every party reduces the cost and time in every process.

When the photo was snapped and verified no one can have access to the storage system on the blockchain, not even the insurance company. This will be stored as data for later reference such as its metadata and slowly eliminates the fraudulent scammers. Read more at

Cruising on the KLAYTN’s ship, Swapping to the New Seaway

 

SIX Network has recently conjoint with KLAYTN with the vision to empower digital creators by establishing decentralized financial services. Previously SIX Coin uses Stellar Lumen as the main channel for blockchain.

It is such an honor for us to be cruising with Klaytn in this vast market of the crypto world. We have hope we will grow on this powerful foundation with a variety of channels for SIX to navigate and serve along with the wave of trends.

 

Klaytn is supported by Kakao, the gigantic in their respective area located in South Korea has been favorable and hyped by the investors domestically. SIX sees the potential and growth since the crypto market in South Korea is restless. 

 

We are trying to execute the environment that is compatible with Klaytn for the reason that our next projects are based on ERC-20, and other aspects are easily transferred with the smart contracts.

 

We’ve launched Swap application that is useful for investors who hold SIX Stellar to easily swap to SIX Klaytn which is suitable for the Korean crypto market,

for now. 

 

We and our alliance aim to create a more transparent, fair, secure, efficient ecosystem for token holders in the digital and creative economies.

The future is unpredictable, as explained earlier, we rely on Klaytn and wanted to derive digitization of all 360-degree tools which will be suitable for individuals and corporates.

 

Our current and potential user range matches one with Kakao’s users of the Korean market and after we successfully integrate our contract, token, and data onto Klip; it will ensures trustworthiness on the consumer through our BApps.

The Wallet in Your Hand

 

On December 4th, 2020 we updated our ‘snap’ application with a new wallet feature where else it acts as the domain wallet for SIX-KCT. Users can transfer and receive the SIX Klaytn token with ease.

 

We still keep our vision as our priority, adopting security into each transaction order with the same account of the existing SIX Wallet. 

Jump Start to the New Year of 2021

 

To sum it up, we’ve been putting efforts into every piece of the projects and the services we provide to our partners and token holder. We believe in the empowerment of establishing decentralized financial services for all of our users.

 

Ensuring our system is built on the model of a fast, secured, and reliable leading  provider of BApps in Thailand and expanding every day in Asia and internationally. All applications will be efficiently and effectively used by our users.

 

The exchange of our token will be much easier, data management will be more applicable in real-life situations. However, we will never stop reinventing the digital economy for us and for all.

Don’t miss out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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