Summary of LIVE AMA Definix and Definix Thailand Community FB Page

The AMA was held on the first of September 2021 on Definix Thailand Community Facebook Page to answer frequently asked questions and roadmap exploration for Definix platform.

Guest Speaker

  • Admin NokFinix: Admin team from Definix Thailand Community (Moderator)
  • Mr.Nadavudh: Co-CEO SIX Network (Speaker)
  • Mr.Vachara: Co-CEO SIX Network (Speaker)

Brief introduction of Definix for those who haven’t join us or stay with us already.

  • A decentralized financial platform developed by SIX Network purposefully for crypto-investment. It is still an early stage for DeFi so Definix has launched the first phase related to DEX, yield farming as a tool for cryptocurrency investigation. The latest release was the Rebalancing Farm and we’ll get into it more on the detail today.

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First Break Answering FAQs by the CEOs

  1. What is the major update do you have during this time after the previous AMA with Stocker Day?

Answer: After the last AMA with Stocker we have released Rebalancing Farm on 13 August 2021. This is a new thing and suitable for newcomers or people who aren’t full-time traders to use this feature of us. It was opened on Klaytn mainnet first, according to the plan, and the rebalancing system will help users with the buying and selling of the assets in the portfolio constantly. On Klaytn, we’ve collected popular tokens which are XRP ETH BTC because the chain is a middle size with a limited token, but later we will open on BSC with a larger size base.

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2. What is the difference between Rebalancing Farm and Yield Farming?

Answer: Rebalancing farm is another farming system in which you can deposit an amount of money in the rebalance farm you choose and the system will help you cut the cost of losing the opportunity to buy-sell and manage your risk in crypto trading. When first entering the farm, you can start depositing with one kind of token and it will automatically sell and purchase other tokens in the ratio corresponding to. ALT Party and Big Cap One Plus is the farm that has an outstanding result.

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3. Please share with us the experience of what has happened after the launching of Rebalancing Farm.

Answer: In the first place it seems that the price (FINIX token) decreased. It’s because when people started to move their asset from regular farm to Rebalance farm whether it’s FINIX with whatever coin is equal to the selling of the asset. The allocation of FINIX in every new product we have is from the present allocation plus the partial amount we add on with it. The APR is around 30–40%, then what we see from here for ALT Party in no longer than a month the result is good. And lastly, it’s the risk allocation it offers when you’re in Farm you are stabilized with APY rate. But here you are rewarded with APY we add on and the money risk management altering for your portfolio.

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4. Will there be changes or differences in Rebalancing Farm on BSC?

Answer: In this matter, I have to say that the audit from CertiK for Rebalance feature is completed. Now we are in the process of fixing minor reports to perfect them before we could run through the testing again. We couldn’t be too careful about the money. So next when it is ready for BSC the tokens are prepared with more variation to choose like Game tokens and tokens that aren’t available on Klaytn.

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5. What is in your future plan for FINIX utilities?

Answer: Recently we are working on what it’s call vFINIX. Starts from staking FINIX in our Long-term staking pool divided into periods of 3, 6, and 12 months and receive vFINIX; to unstake FINIX can only be done after the staking period is over. vFINIX is a token of privileges according to each time and condition at the moment too. Privileges:

  • vFINIX for a voting system in voting for rewarding fee return from a liquidity pool. (Fee generates from swapping of token). In addition, vFINIX is for both rewarding fees and FINIX emission allocation.
  • Discount fee conditioning for Rebalancing Farm
  • FINIX emission allocation will allow you to vote using vFINIX known as Reward Pot.
  • Privilege for vFINIX holder to be allowed to use our partner’s feature such as in Loremboard in portfolio tracking.

In other words, vFINIX will allow you to be able to use up your power in order to help direct the platform together for yourself.

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6. Long-term Stake (DCA) will be discontinued please explain more?

Answer: Not discontinue but the long-term staking concept has been applied for our vFINIX system if users are taking part in having to save up the time lock of 3, 6, and 12 months. This voting system is requested from the Korean community as well so it is applicable for everyone to use if you’re here with us for some time already.

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7. What is the next marketing expansion rather than Thai and South Korea?

Answer: Our majority of users are from Thailand and South Korea for now, during this time we have already partnering up with other parties for our future movement. We have traffic from Indonesia, Malaysia, and China too. We believe the next expansion through the help from our partners will make us scale assuredly than we do our own marketing.

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8. What do you think about NFT as a coin creator for SIX?

Answer: Like our first mission SIX Network as a coin creator our partner, Ookbee, maybe in the future we’ll start to create NFT involving SIX and FINIX in the process. We have planned out some of the ideas but aren’t finalized yet. Maybe in Q4 of this year or Q1 next year, we’ll get to see what kind of NFT SIX Network will have for us. And SIX Network part will also release the roadmap for everyone. Until then we still need to keep it a secret until everything is finally over with the think and rethinking process. If the development is almost finished, it’s the best time to begin talking and promoting things further.

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9. Will FINIX be changed in the term of supply limit and emission rate?

Answer: The roadmap was set firstly to make FINIX halving event again in April next year. And here’s the thing we wanted to give the power back for investors who have vFINIX in their hands to be able to choose what changes they want for their own in the platform. We want to create a decentralized governance system running through so that everyone here can get closer to the platform.

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Second Break Telegram and Facebook Questions Answering

Please refer to the answers on LIVE video on Facebook Page (https://www.facebook.com/definixfc/videos/372336397718479/)

45:22 What are the listing plan on other CEX or DEX?

46:18 When will Metamask be available for Definix Klaytn-based?

46:55 Bridge tools upgrade plans?

48:32 The Difference between vFINIX and FINIX token?

50:10 SIX token situations and future of it?

50:53 Can you show us the Buyback and Burn plan or schedule it out for us?

54:44 What is the relationship you have with Krung Sri Bank?

55:10 ETH Layer 2 is out, when will Definix release layer 2, and will Definix be challenging its rival like Enzyme finance?

57:27 Does vFINIX and FINIX worth equally?

59:41 Is Definix’s next step going to have the same concept as BalancerV.2 or not?

1:01:11 Will there be a chance Definix’s Rebalancing Farm gets banned like the synthetic stock?

1:03:45 Can you held once a month AMA session?

1:04:22 What are the fees used when collected from Rebalancing Farm?

1:07:22 Can users choose when to withdraw some currency of the token from the Rebalancing Farm?

Follow for more ….

SIX Network: https://six.network/

Telegram: https://t.me/SIXnetwork(International), https://t.me/SIXnetworkTH (Thai group)

Definix Facebook Page: https://www.facebook.com/definixofficial

Definix Twitter: https://twitter.com/DefinixOfficial

The ultimate DeFi protocol for investors make the most from the crypto assets.