Six Token

SIX Network focuses on creating a new digital economy by using blockchain and smart contracts.

What is SIX Network? 

  • SIX originated from one of the largest digital media startup groups in Korea and Thailand, OOKBEE U Company Limited +Yello Digital Marketing Global PTE LTD, and Computerlogy co.,ltd.
  • SIX coins are listed in Thailand, South Korea and US exchange boards which can be directly exchanged both within and across platforms without any intermediaries allowing users to pay lower transaction fees.
  • On 27th March9 2018, they announced to the public about the SIX.network project and their collaboration.
  • SIX coin is suitable for an amateur investor as there are experts who help supervise and give suggestions on the funds. Thus, experienced investors can strengthen the confidence in their investments while retail investors can invest with lower risk than investing by themselves with a lack of understanding of the market.

Key Metrics

TickerSIX
Token NameSIX Network
Token Type/ProtocolKlaytn blockchain network
Total Token Supply999,999,970 SIX
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation Date2018
Can it be mined?No

Who is behind the SIX network?

SIX Network was established and registered in 2018 by Mr Nuttawut Puengcharoenpong, the founder of Ookbee group and the 500 Tuk Tuk fund manager, and Mr Watchara Emwat, the founder of Computerlogy.

These two founders collaboratively established SIX Network together, aiming to revolutionize the digital creative industry in Thailand in order to create a decentralized services platform. This platform provides the best liquidity and benefit-sharing for all creators and users.

What is the purpose of SIX Network?

SIX Network focuses on creating a new digital economy by using blockchain and smart contracts to provide non-intermediary financial services. SIX Network connects between wallets and has three main structures which are Six digital asset wallets, decentralized financial services and wallet to wallet decentralized commerce.

Insights:

There are five products on the SIX platform:

  1. Definix Platform: SIX has developed a DeFi platform running on the Klaytn blockchain network which is a South Korean blockchain. There are outstanding features that are enabled for users as follows:
  • SWAP is a cryptocurrency exchange where users can swiftly trade their crypto without an intermediary.
  • Liquidity Pool or Liquidity Mining allows users to deposit crypto coins to increase the liquidity of the system and receive LP coins as compensation.
  • Investment Platform is a Decentralized Multi-chain Fund Management (Definix) which is taken care of by the crypto experts handpicked by the team and has a lower transaction fee than those market leaders. The Definix fund arrangement service allows investors to buy funds that they are interested in. Besides trading for profit, users can also create their own fund and investment plans for other users to invest as well. 
  1. The SIX Bridge connects all the utilities of the SIX token. Bridge allows users to convert SIX coins from one network to another with a ratio of 1:1. Therefore, SIX token holders do not need to sell SIX coins to buy coins on the destination network. The servicing networks cover the Stellar Lumen Network, Klaytn Network and Binance Smart Chain Network.
  1. Snap is an application that helps with photography verification. The main purpose of the application is to verify whether the photo is correct as the details provided from users for the verification or not. This application helps businesses and individuals reduce their risk in terms of photo editing and reduce the cost and time of work on applying photos for information in any transaction.
  2. Echo is a blockchain technology which protects the copyrights of digital creators’ works from piracy. Echo stores asset identities and ownership history which is kept in the form of digital token and smart contract.
  1. SIX Wallet is a digital wallet supporting various cryptocurrencies. Transactions on the wallet require at least two codes to access the application which are the codes from the application side and the server side. It is not possible for hackers to access the wallet without encryption from both sides. SIXR is a digital wallet with financial and lifestyle features that facilitate users in several aspects. SIXR can also be used across multiple partner platforms where users can compete in games to earn SIXR and convert it to SIX tokens for trading in the marketplace. SIXR can also be transferred through the chat feature as well.

Risks:

  • Market segment of SIX Network primarily focuses on users in the creative digital industry, thus the token may not be very popular. However, the company has launched the DeFi platform expecting to increase its popularity in the future.
  • The value of SIX tokens may not be very high compared to other projects due to the penetration strategy into the niche market. Therefore, SIX tokens are still not popular among investors.

News and Update:

  • Definix has offered an airdrop of a bundle reward of KLAY tokens for users on BSC. Users will be rewarded with KLAY on the farm as an extra bonus bundle with FINIX as a fundamental interest.
  • Definix got the certification from Soteria which is one of the DeFi protocols providing insurance for smart contracts. The insurance basically intends to insure the damage caused by smart contracts being hacked and to build trust and confidence for investors.
  • Visa together with its partners are planning to have a digital wallet and trading website so that visa card holders can trade, withdraw and convert cryptocurrency to Fiat currency for making transactions. 
  •  Mastercard is planning to offer cryptocurrency transactions to Mastercard holders and has registered a patent of many related cryptocurrencies.

Community & Whitepaper Links:

Disclaimer: 

All investment is speculative and involves substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.  

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