AMA Recap 404 Daily Crypto with SIX Network

Hello 404 Daily Crypto Community

On 23 April 2021, SIX Network conducted an AMA in the 404 Daily Crypto. Our guest is SIX Network Team.

Lots of questions as usual from the Community about SIX Network progress. The SIX Network team took part in a very interesting AMA session which included Project introduction, Questions from Twitter and a live AMA session with the 404 Daily Crypto community. If you missed the AMA in person, read this recap for a deeper insight into SIX Network.

Let’s take a look at the most interesting points of our conversation.

📍Session 1 » Project Introduction

Can you introduce yourself and your team please? We want get to know you and your team. What you did before crypto, and how you got into crypto?

Vachara Aemavat: Here is Vachara, Co-CEO of SIX Network. We have Moo, Co-CEO of SIX Network as well. We also have Be, BD Manager and Myra Community Manager.

I, myself, run a deep tech startup over 10 years named Computerlogy. Computerlogy raised Series A from Intouch, venture arm in Thailand. Later Computerlogy join Future Stream Network (FSN), the listed company in Korea.

So, we start this project by partner up between Computerlogy, FSN and Ookbee U. We finished the ICO 2 years ago with $SIX listed in Bitkub, Bittrex, Coinone, Tokenomy and Liquid.

Now we launched Definix platform (https://definix.com), the decentralized mutual-fund management platform on Binance Smart Chain and we are developing one for Klaytn blockchain.

Moo: Hi I’m Moo. Co -CEO at SIX Network. I’m a tech entrepreneur with over 18 years experience in founding, funding and managing tech companies.

Moo is a Founder and CEO of OOKBEE, one of SEA’s biggest UGC communities which include books, Novel, Comics, Music etc. Ookbee raised over 50M USD from various investors including Tencent and Intouch holdings in the past 4 years.

Besides Ookbee, he’s also a venture partners at 500 startups managing 500 TukTuks I and II, $30M USD micro-funds focused on promising Thai and SEA startups.The fund portfolio includes Omise, Pomelo and over 70 other startups in the region in the past 3 years.

Can you briefly introduce SIX Network to our community? And how is the story behind the SIX Network creation?

Vachara Aemavat: What is SIX Network (SIX)? SIX Network project focused on reinventing the digital economy by utilizing blockchain and smart contract to establish decentralized financial services while improving Wallet-to-Wallet interactions.

SIX pursuits transparent, fair, secure, and efficient ecosystem for all stakeholders in the digital creative economy by providing these solutions, SIX Digital Asset Wallet, Decentralized Financial Services, Wallet-to-Wallet (W2W) Decentralized Commerce.

In 2021 SIX Network launched “ Definix” , a decentralized finance (DeFi) project aims to facilitate automated trading of DeFi tokens and decentralize traditional asset management by lowering the barriers of entry for asset management, opening access to more average consumers. Inside Definix are decentralized exchange (DEX), on-chain crypto asset management and staking platforms.

Our ambition is to be make a Definix User Generated Fund (UGF) platform that excels in a variety of areas including: transparency, usability, cost cutting, security, and accessibility.

In the past, it’s very difficult for general public to create asset management funds. It can take years to file documents. Creating these funds also usually requires substantial capital and legal consultation fee. SIX aims to create an alternative system. Creating fund on Definix is cheap and simple. It gives individuals the ability to setup and manage an investment fund completely on blockchain, without any intermediaries, putting power into the hands of anyone with a small amount of capital and the knowledge to do so.

All investment fund on Definix are defined by a set of rules or parameters, that are enforced by smart contracts, ensuring that a fund manager cannot deviate from their initial strategy and vision for the fund, as they are programmed directly into the contracts. With Definix, users can invest in funds and portfolios launched by other users, and other users can invest in their creations. The Definix protocol uses the SIX cryptocurrency to execute various operations on the platform.

What is so exciting about SIX Network, which might make SIX Network different from all other projects out there?

Moo: We are probably one of few projects in SEA that have experience buiding UGC communities with over 10M MAU. We are using that experience in our project Definix to create UGF.

User-generated fund where we allow anyone to show their trading performance and people can choose to join those fund.

Vachara Aemavat: We also have the fund for trader who pass our criteria. They could managed the fund and earn the performance fee. This phase of definix is just start with the DEX. We are working on revamp UX/UI to attract crypto investor and launch investment part within couple months.

Working on our development phase. Within next month, Definix will launch in Klaytn blockchain, one of the most famous blockchain in Korea. Integrate the platform with KLIP, crypto wallet in Kakao talk, user can invest in Definix platform easier.

Please provide some information about your Roadmap, How SIX Network is progressing so far? And what SIX Network is currently focused on?

Vachara Aemavat: Since Definix launched 3 weeks, we currently have $27M TVL. We are about to launch Klaytn version. Then, investment platform later in Q2-Q3. The investment part will come with performance tracking module, it’s kind like the page that you could see how your money is going from the investment in your contract address. Along with performance tracking, we set up the criteria to screen best investor and encourage them to be fund manager.

Moo: Currently Definix runs on BSC tho. A big chunk of our userss are in Thailand and Korea since we have local offices in these countries.

Vachara Aemavat: The criteria is just like FTMO, you may need to be active trader at least 10 days in 30 days, no draw down below 30% of the fund and gain more than 20% based on top 20 crypto performance.

If you pass the criteria, you could create your own fund, setup a fund schema like trading on BUSD, BTC, ETH and so forth. Fund performance fee 20% and fund management fee 2%, for example.

We give you $5,000 equivalent in $FINIX. You could use this as a initial setup for your fund. This function shall be launch in couple months as mentions. That’s is what we are focusing on.

Those shall be launch late Q2 or early Q3. But during this time, we will add on new farm and more function almost every weeks.

Please tell us more about $SIX & $FINIX token! What utilities does the token have, and what benefits will tokens holders get?

Vachara Aemavat: Definix always and from the beginning stands firm on the position of being a foremost venture for interesting investors to advance their crypto assets with us. We do not want to make the platform seems as a “flash farming” or just “another swap protocol”. We values diversity of utilizing multiple chains by conducting each and every importance details for the best experience on DeFi investment. Final, our mutual fund management, that’s going to be out in the Q2, will eventually form the ecosystem to a perfect gateway of the digital era.

$FINIX can be use for fund investment, apply to be fund manager and use to purchase investment products, such insurance, inside Definix platform.

Moo: for SIX, https://echo.work/snappage is an app to provide the world the best cost-effective, fast and secure inspection platform using the most advanced blockchain and capture-locked image technologies from ECHO by SIX Network.

https://sixnetwork.gitbook.io/docs/echo/

And for IP management for all creators in our ecosystem

Vachara Aemavat: In nomal mutual-fund or investment trading, you may familiar with basis points (BPS). Holding FINIX could help to reduce BPS as well.

What are some achievement that SIX Network has achieved so far? And what are SIX Network upcoming plans, Especially in 2021?

Vachara Aemavat: We launched ECHO last year with over $2M contents inside our platform. As I mentioned before launched definix.com last 3 weeks with good TVL, we are continue developing definix enhancing to create a mutual-fund management platform.

We aim to create decentralized crypto trader community. Encourage good trader to be fund manager. With the goals of creating this community in definix, we want everyone who have been trade well, create their own fund and allow anyone to join them.

Moo: We are quite confident that our users dont have to wait long to use these new features!! 🙂

Session 2 » Question from Twitter

— Question from Twitter @mylhe
Can you tell us some of the remarkable ways to earn in Six Network? Who are your potential target market? How will you welcome non-crypto investors in your platform?

Moo: If you have SIX the easiest way now is to yield farm in Definix. As soon as Definix Phase 2 launch in the next 1–2 months you can earn more by creating funds or invest in other UGF funds in the platform.

Vachara Aemavat: Our potential market is everyone who trading crypto or do yield farming anywhere in the world. But we focus more and bring non-crypto investors, we initial specific two countries Korea and Thailand. We will integrate with local wallet like KLIP in Kakao talk or licensed wallet in Thailand.

Moo: Create the simply way to invest in crypto fund directly from their wallet. Allow them to invest crypto with DCA (Dollar-Cost Averaging) to our crated fund. We are also working with partners to add more wallet integration for expansion to more regions.

— Question from Twitter @Niloy37474210
How does project team sees Defi potential for long-term run for the business And what is the feature That will provide for the DeFi space in long run?

Moo: We think Defi will be one of the fastest adoption in these spaces. thats why we launch Definix, In the longer term, after UGF fund-management things we will add more robust featurs such as DCA, Index fund and more to come in the next 6–12 months.

Vachara Aemavat: We intial this project because we strongly believe on decentralized metaphors. With the old traditianal of financial system. Mutual-fund is one of the important vehicle in our financial system.

— Question from Twitter @Niqabna
Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to Your platform and keep them long term?

Moo: We things here: Selecting good infrastructues and projects to partner with are the first step. delivering useful and scalable solutions for problems we are trying to solve are definily the most essential thing to get users hooked and eventually with moure usage we hope it will reflect in our price and hopefulle that will also bring more users and investors in our project. pnline marketing etc to let people know us is also important but have to be together with all above since we want to deliver results.

Vachara Aemavat: We also making partnership with many good projects in blockchain industry like Klaytn and Ozys. We believe that long-term partnership will drive the ecosystem getting bigger together.

By the way, you are running good blockchain project, we are happy to talk to you, just ping us for the partnership 🙂

— Question from Twitter @sum43883950
What is difference with other DEX? and Why the investors should choose your project?

Vachara Aemavat: Definix always and from the beginning stands firm on the position of being a foremost venture for interesting investors to advance their crypto assets with us. We do not want to make the platform seems as a “flash farming” or just “another swap protocol”. We values diversity of utilizing multiple chains by conducting each and every importance details for the best experience on DeFi investment. Final, our mutual fund management, that’s going to be out in the Q2, will eventually form the ecosystem to a perfect gateway of the digital era.

As mentioned above, our platform is not only the DEX and yield farming. Even currently, definix has a good yield right now :D. We are working more on utilized the ecosystem token ($FINIX) on our platform.

— Question from Twitter @JODAsf
In addition to making a profit when investing in any business, we users also expect our investment to be secure, so can you tell us how secure and reliable SIX NETWORK is and what methods and tools you employ to maintain security?

Vachara Aemavat: Our top priority is security, it would be nearly impossible to know whether an external smart contract or function is secure enough to call without risking assets and information stored on the blockchain. Our smart contract have been audited by couple good smart contract audit firms. The team have been through the recommendation thoroughly in resolving the matters of reported issues to maintain, stabilized, and secure terminal for investors. With strong fundamental of world-class blockchain as well as Binance Smart Chain and Klaytn Blockchain.

The main contract also under timelock, any change on the parameters need to go thru timelock before deploy. Within this week, we will share smart contract audit reports from two firms.

📍 Session 3 » Community Questions (Live AMA)

Telegram User @Uamos
I read that SIX Wallet stands out for its simplicity and security, so I wonder, comparing it to Trust Wallet and Metamask, what makes Six Wallet unique? Is it accessible for dapps?

Myra N. Unchi: tSIX Wallet isn’t accesible for Dapps by now, but we are implementing plans for the further usage. For sure we will never stop reinventing what we have for another advance step fowards.

Telegram User @atmflas
I’ve been a Iong-time hoIder and I’m very concerned with rewarding hoIders. My Question: Can I get a reward when I hoId your tokens for a Iong time?

Vachara Aemavat: Yes, yeild farming in definix will give you reward continueously when you stay in the farm.

Telegram User @Karoceh
About SIX fund manager feature, how can someone become a fund manager? could you please state the requirements? and what percentage does the fund manager gain from user subscription?

Thanakorn Jiravettaworn: you need to pass the FINIX challenge first. After your performance is review you will be able to be a fund manager. The fund manager can freely set management fee for their fund

Telegram User @andramanm
“STAKING” is one of the STRATEGIES to ATTRACT USERS and HOLD USERSDoes your GREAT PLATFORM have plan about Staking?

Thanakorn Jiravettaworn: we already havre staking features

Telegram User @Sephad
Southeast Asia is a very vibrant market and many many Projects developed overthere. So, What you think about Southeast Asia and Do you have any plan to develop in there?

Myra N. Unchi: We are based in Asia our parent company FSN is from Korea SIX Network headquarter is in Thailand and Singapore. Klaytn is our partner located in South Korea as well. By all means right now we are in Asia and is expanding world wide.

Telegram User @SanntaCruzia
Will you also focus more on Asian market as it arbors a very strong based for crypto currency projects?

Vachara Aemavat: We are focus on Asian market for local implementation. But global plan is also working with various partners.

Telegram User @madarakq
A Iot of bIockchain projects are on paper onIy and no product or product has no practicaI meaning. PIease teII us which products are currentIy focused on?

Vachara Aemavat: You can access live version at definix.com

Telegram User @cob_ba_ba
In your roadmap, will you create a BURN TOKEN to increase the token value for the benefit of customers?

Thanakorn Jiravettaworn: We already have halving and buy back and burn to manage inflation rate

Telegram User @Jaegerrumbling
does the SIX network really need a blockchain to organize and manage investment funds?

Moo: Since Its user-generated funds. Transparency is the most important thing. Utilizing blockchain let investors know every single trade and performance of these funds. Users can also deposit and withdraw anytime without using any centralized party

Telegram User @pottosh
Right now issuing a token is a rather simple process. However, building the system and ecosystem is the most difficult part. My question is, How will your token use within the ecosystem?

Vachara Aemavat: $FINIX tokens can use in our platform to engage with our financial services.

Telegram User @nikolas1819
I am one of the users who has watched Six Network for the past few years.

I’ve seen the milestones shown in SIX NETWORK well and I think it’s working well.
I sincerely wish you the success of the Definix Project.

Let me ask you a question.

I think Defi’s success depends on TVL.
I think successful marketing plays a part in the rise of TVL.

Please reply to me about what kind of marketing you are currently doing on Six Network and what kind of marketing you will do in the future.

Myra N. Unchit: We do have marketing plan but it seams that we are not marketing enough? People are skeptical and questioning the impossibilites, but we show them the possibilites so I guess action speaks louder than a word.

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📍 More information on Six Network:
❇️ Website: https://six.network
❇️ Twitter: https://twitter.com/theSIXnetwork
❇️ Telegram: https://t.me/SIXnetwork
❇️ Github: https://github.com/thesixnetwork
❇️ Facebook: https://www.facebook.com/thesixnetwork/
❇️ Reddit: https://www.reddit.com/r/sixnetwork/
❇️ Bitcointalk: https://bitcointalk.org/index.php?topic=3222272
❇️ Medium: https://medium.com/six-network?&
❇️ Kakaotalk: https://open.kakao.com/o/gQNRT5K

404 Daily Crypto is a Community of Cryptocurrency enthusiasts. We provide interesting information and news about cryptocurrencies.