Summary of LIVE AMA Definix and Long Kui Community

The AMA was held on 14th September 2021 on Long Kui Community to answer frequently asked questions and roadmap exploration for Definix platform.

Guest Speaker

  • Miao Miao: Host
  • Mr.Nadavudh: Co-CEO SIX Network (Speaker)
  • Mr.Vachara: Co-CEO SIX Network (Speaker)

Natavudh Pungcharoenpong: Definix is the transparent crypto investment platform on DeFi that helps crypto investors to invest confidently, developed by our company, SIX Network. Just as you know, investing in crypto assets can give you fruitful profits if you do it right. The problem is, to do the right investment, requires a lot of knowledge and the learning curve is quite steep. That’s why only a few people can survive in the market in the long run. So we think that it would be great if we could connect those survivors to people who want to invest in crypto but still don’t have much experience together.

So we created Definix which would be a platform with tools that professional traders can use to create their own crypto mutual funds and/or farms and average people can come to invest in them. It’s like a win-win situation. Professional traders can maximize more money from their skills while people can invest in crypto assets with less risk and more profits with the help of professionals.

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2. Can you tell us more about the features that Definix has to offer and how that makes Definix unique?

Vachara Aemavat : On Definix, currently we have features just as the following :

  • Rebalancing Farms: Think it’s like a mutual fund where the fund manager manages by using the strategy called “Rebalancing”. Rebalancing is a strategy that can lower the risk and help investors have high returns in the long run. Each farm has been constructed from various cryptocurrencies with different ratios and would be rebalanced according to the algorithm and rules that have been set by the professional. To make a rebalancing strategy works, normally it requires the knowledge of crypto portfolio management but Definix makes it ready to use for everyone. What you have to do is just depositing your coins to the Rebalancing Farm and let the system grow your money by advanced strategy.
  • Decentralized exchange and yield farming: We also have our own DEX and yield farming. You can exchange coins, provide liquidity to the platform, and stake in the farms and pools in order to get rewards as FINIX, the ecosystem token of Definix.
  • Long-term staking pool and voting system (vFINIX): Long-term staking pool is where FINIX holders can earn more rewards by staking FINIX in the pool for 90, 180, 365 days. By staking in this pool, they will get vFINIX tokens in exchange and they will get the right to vote for the direction and privileges when using Rebalancing Farms and other investment tools on the platform.
  • User-generated crypto fund management: The system will allow professional traders to create their own crypto funds and become fund managers. People can come to invest in their funds and they can earn by charging management fees.

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3. What is FINIX token and how could we use it on your platform?

Natavudh Pungcharoenpong: FINIX token is an ecosystem token for Definix. By staking FINIX token in the long-term staking pool that we will launch soon, the user will get vFINIX and he or she can use vFINIX for the following activities :

  • Vote for the direction and the platform distribution rate of liquidity fees. The user will get a part of liquidity fees as a reward.
  • Get fee discounts for investing in a Rebalancing farm.
  • Get privileges from a partner’s services.

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4. What is the Rebalancing Farm product’s most important feature to make it outstanding?

Natavudh Pungcharoenpong: The most important thing is that Rebalancing Farm is easy to use for everyone. For decades, the rebalancing strategy has been used by a lot of professional traders to make them profitable and survive in the market. You can apply the same strategy with them just by depositing your coins in the Rebalancing Farm. This creates a chance for average people to be profitable and have less risk in the long run.

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5. Who are your partners? In what ways have they helped shape your project and how do they contribute to it?

Vachara Aemavat: At this moment, we have a lot of supportive partners.The one that supports us a lot is Klaytn, the blockchain network developed by GroundX, the subsidiary of Kakao, a top internet company in South Korea. We’re Klaytn’s official partner and work closely with them in order to expand our services to the global level. We’re a partner of Ozys, the company which developed Belt Finance, the global DeFi platform.

In the South Korean market, we’re also supported by FSN, our parent company which is a top-notch digital company in South Korea. The support helped us attract a lot of Korean investors to invest in Definix.

In Thailand, we have Ookbee U, the company working on user-generated content, co-invested by Tencent as a partner to help us explore opportunities in the creative industry.

For the user level, we also have a partner like Lorem Board, the DeFi dashboard that helps our investors monitor their portfolio easily. D’CENT, the popular hardware wallet is one of our partners too.

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6. We’ve heard that your company has another cryptocurrency, please tell us a bit about it.

Natavudh Pungcharoenpong:Sure. Before Definix, our company released a cryptocurrency called “SIX”. SIX is just like a mother coin of our company’s product. The concept of SIX is “creation”. For example, for the first time of issuing FINIX tokens at the launch of Definix, people had to bring SIX to stake to get the first lot of FINIX. Now SIX is listed on top crypto exchanges in Thailand and South Korea. In the future, SIX will be used with other company’s products too.

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7. What Future Development and Plannings do you have?

Vachara Aemavat: We think now it’s just the early days of Definix. First, we want to help people who are interested in crypto investment to invest conveniently. At the same time, we help professional traders make more money by having their own managed funds. After that, our ambition is to become “Fidelity” in the crypto world. We plan to explore the opportunities beyond our current services such as NFT assets, crypto index investment products, crypto-assets loans, insurance as well as expand our current services to multiple countries around the world.

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8. Definix has been spotted on CerTik security scoreboard as the top project with the highest safety score so many times, even higher than the biggest player like PancakeSwap sometimes. Could you tell us about your secret sauce?

Natavudh Pungcharoenpong: Our first priority is security. Since investors believe in us and bring their money to invest in our platform, we’ve tried our best to protect their assets. Definix smart contracts have been audited by CerTik, the well-known smart contract auditor. We keep improving our codes and pushing the level of our security higher. More than that, we’re also using CerTik Skynet, the intelligence engine that keeps monitoring and providing 24/7 security analysis for our smart contracts. Everything we’ve done is for protecting your valuable assets. We think these might be the reasons behind our high score.

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9. We’ve seen a double increase in your total value of assets locked on the platform (TVL) recently. Could you tell us what happened?

Natavudh Pungcharoenpong: The cause of the double increase in TVL is the positive feedback from investors after we officially announced the utilities of FINIX to the public for the first time in Thai and Korean AMA events. We think the huge spike of TVL reflects that the investors love the utilities of the FINIX such as long-term staking, voting, and other privileges. And this is the sign to tell us what we’ve done is right. Big thanks to the investors who believe and invest in Definix. Without them, we couldn’t be here.

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10. Where to start if interested in joining Definix?

Vachara Aemavat: We suggest you try depositing in Rebalancing Farms on Klaytn-based Definix (https://klaytn.definix.com/rebalancing). If you’re on Binance Smart Chain, you can enjoy fruitful APR in our yield farming on BSC-based Definix (https://bsc.definix.com/farm). Some of you might be very new to crypto and don’t know where to start. No worries, you can visit SIX Network international community on Telegram (https://t.me/SIXnetwork). People and admins, there are very friendly and you can discuss with them. You also can follow Definix Twitter (https://twitter.com/DefinixOfficial) and Medium (https://copywriter-sixnetwork.medium.com/) too.

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Second Break Wechat Questions Answering

1. The concept of NFT is very hot. At present, NFT is slowly becoming the hottest item in the currency circle. Is Definix planning to enter NFT?

Yes NFT is on the horizon… it will probably launch NFT related project within the next 6 months. We have a lot of users in this area in our markets also

2. What links does Definix currently support and which wallets can it use? Definix

Now, in BSC we can use Matamask. In Klaytn, we can use Kaikas or D’Cent wallet. Metamask can link with Hardware wallets like Ledger and Trezor. D’Cent can link to hardware wallet which is D’Cent one.

3. Definix What advantages do we have in competing products of the same kind to win the market?

We are the first mover of this Fund Management protocol on BSC and Klaytn. There are many more advanced features coming in the next few months. We hope our product will be considered useful for our users and help grow the market, SIX Network ( the mother company of Definix with the crypto called SIX) has been around for so many years and have a lot of local users as well. I'm sure we will keep delivering the best product for our community.

4. How do you generate revenue to sustain the project? What are your goals by the end of 2021 and beyond?

Projects generate various ways of revenue. This is included management fees, swap fees, bridge fees, and many others related to the platform.

5. Where is the current market target for Definix? And what are the future deployments and expectations?

At this stage, we’d launched the rebalance fund on Klaytn. The next step is to launch it on BSC and more chains as well as eventually open the platform for everyone to launch their own fund in the future.

6. How about the product going? do you have any promotion plan in the coming months?

We promote products thru our partners and community. Not only focusing on Korea and Thailand but Chinese (like this time). We have partners in Vietnam, Indonesia, and Malaysia to help us.

7. APY for 90, 180, and 360 days staking?

For vFINIX for staking on 90, 180, and 365 days. Our reward is 1x, 2x, and 4x times. You can see longer stake will receive the biggest reward. But to achieve this level, investors shall have at least 30,000 FINIX for the minimum requirement.

8. Now that there are many similar products in the market for cryptocurrency, what is unique about Definix, and what is its core competitiveness?

Our rebalanced fund is unique in the way that we develop it from the ground up and not using AMM like others. It performs better for our investors and provides much flexibility for the Fund designer. IN the future we will open this fund creation for everyone so all the people who want to be fund managers and earn fees from managing funds for others can open their own fun on our platform which is quite innovative in a way I think.

Move forward with us!

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.