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The DeFi ecosystem has grown faster than anyone can keep up with recently. Billions of dollars are invested in digital assets, despite all the problems facing current services. Faulty code, security vulnerabilities, and shady anonymous developers are just some of the problems that can make the DeFi space too risky right now. Fortunately, everything is about to change as xSigma is releasing a new DeFi DEX protocol, in a first-time entry into the field of a project backed by a NASDAQ listed company.
xSigma ushers in a new era of DeFi DEX
ZK International Group Co., Ltd. (Nasdaq: ZKIN) revealed on Monday November 23 that it is providing funding to its wholly owned subsidiary, xSigma, to enter the decentralized finance space by focusing on decentralized exchanges. The significance of this move for the DeFi ecosystem cannot be overstated as this is the first time ever a publicly traded company has supported a development in the field.
The xSigma DeFi protocol will power a DEX that will be as rewarding to liquidity providers as the industry is known to, while minimizing risk for all users. The developers have created an intuitive interface that will make it easy for newcomers to trade on a sophisticated engine that supports ERC20 asset pooling without the risk of temporary losses.
XSigma DeFi will offer a single point of entry to the ecosystem, suitable for all users, which can act as a decentralized “bank account” to earn interest on deposited funds. It will feature a controlled and sustainable token issuance and will not have complex governance: dividends distributed via token burn. The xSigma researchers explain that they have tackled the underlying problems of AMMs from scratch and have reached a breakthrough in non-custodial trading that eliminates risks for token holders whose assets are bundled.
A team you can trust
ZK International is a China-based company that focuses on supplying steel piping for the large gas and water industries. He has worked on over 2,000 projects, including the Beijing National Airport, the “Water Cube” and the “Bird’s Nest”, which hosted the 2008 Beijing Olympics. The Nasdaq-listed company launched xSigma as a research laboratory and development in 2018 to solve real-world infrastructure challenges and explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions.
The xSigma team includes world-class developers with previous work experience for Google, Facebook, Ripple Labs, 1inch, and other successful tech companies. The developers of the DeFi protocol will come from the cutting edge of blockchain research that intersects decentralized finance, supply chain management, IoT and infrastructure. The team’s identities and skills will be posted on the lab’s website, bringing a level of trust and transparency that is very much needed in the DeFi space these days.
XSigma DeFi will launch as a DEX stablecoin, powered by native governance, and support for lending and lending services will be added later. The xSigma DeFi token will yield a number of benefits beyond governance, including funneling a portion of all DEX fees to token holders. To align the incentives between the xSigma team and its community, the token team and LP have pledged to mature gradually over the course of two years.
To learn more about xSigma, its world-class team and the new DeFi protocol, visit the lab’s website now at xSigma.com and follow its Twitter and LinkedIn pages for updates.
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