xSigma Introduces DeFi Project
WENZHOU, China, Nov. 30, 2020 /PRNewswire/ -- ZK International Group and its wholly-owned subsidiary, xSigma Corporation, are pleased to announce the official launch of their decentralized finance (DeFi) project. ZK International (Nasdaq: ZKIN) founded xSigma in 2018 as a blockchain research and development lab tasked with solving real-world infrastructure challenges. Its mandate has expanded to all facets of the DeFi ecosystem, including stablecoins, custodial trading, wallet services and cross-chain lending. XSigma plans to become the first blockchain company to launch a unified DeFi ecosystem to promote mass adoption.
xSigma is entering the DeFi market during a period of tremendous growth for decentralized exchanges and lending services. Despite its massive growth potential, DeFi faces several challenges that could limit adoption in the long term. A poor user experience, stuck transactions, impermanent loss and inexperienced teams are just some of the major pain points weighing down this nascent industry.
To combat these challenges, xSigma is excited to announce the launch of its new DeFi project, beginning first with its decentralized stablecoin exchange. The xSigma DEX is designed to capture the true value of decentralized finance without the user experience issues that plague existing protocols. xSigma's DeFi ecosystem will begin with the launch of its decentralized stablecoin exchange, offering fair farming terms for liquidity providers and an intuitive user interface for users.
The company's DeFi protocol features a simple user interface built on top of a sophisticated engine that supports pooling with reduced impermanent loss. It's the product of several years of research and development by xSigma.
Following the successful launch of its decentralized exchange, xSigma will pursue a highly ambitious roadmap culminating in 2022 with the launch of its own stablecoin.
XSigma's cutting edge product development is backed by some of the blockchain industry's most talented and recognizable names. The team brings a new level of legitimacy and transparency to a DeFi ecosystem that has lacked both during its infancy. As the first blockchain research lab to be backed by a publicly-traded NASDAQ company, xSigma is led by:
- Alex Lebed, a software engineer formerly of Facebook, Amazon and 1Inch, and is also the prizewinner of ethNY (awards from Binance labs, Wyre, Matic), ethBoston and ethDenver hackathons.
- Kamal Obbad, a Harvard graduate and former Google engineer who was featured in Forbes 30 Under 30 in healthcare.
- Daniel Garay, a product manager who used to work at Ripple and Google.
XSigma is aiming to revolutionize the DeFi ecosystem by offering pragmatic solutions to the world of open finance. The combination of outstanding technology, an experienced team and public backing give xSigma a competitive edge and a reputational advantage over today's competitors.
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 33 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, including the Beijing National Airport, the "Water Cube", and "Bird's Nest", which were venues for the 2008 Beijing Olympics. Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water not only to the China market but also to international markets such as Europe, East Asia, and Southeast Asia.
For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.
About xSigma Corporation
XSigma Corporation, is a wholly-owned subsidiary of ZK International Group Co., Ltd. Together with ZK International, has launched xSigma as a research and development lab back in 2018 to solve real-world infrastructure challenges. Its mandate was to explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions.
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SOURCE ZK International Group Co., Ltd.
Released November 30, 2020