ZK International Subsidiary xSigma Launches DeFi Project Roadmap
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As a subsidiary of ZK International Group (NASDAQ:ZKIN), xSigma Corporation was established in 2018 as a research and development lab to explore the utility of blockchain technology in solving real-world challenges. After a substantive R&D cycle, xSigma today announces the launch of its decentralized finance (DeFi) project.
Decentralized finance has emerged as a leading vertical in the blockchain ecosystem, with more than $13 billion locked into DeFi projects as of mid-November.
Despite this tremendous growth, existing DeFI protocols suffer from a range of issues, such as a faulty user experience, smart contract vulnerability and impermanent loss. xSigma DeFi has been designed to address the myriad issues that have cast a negative light on this emerging market.
As the first publicly-backed DeFi project, xSigma is building an entire ecosystem of decentralized tools and products, beginning with the launch of a decentralized stablecoin exchange that tackles all of the underlying problems associated with automated market makers, or AMMs.
The DEX offers fair farming terms for liquidity providers and an intuitive user experience for traders — without the complex governance that belies existing DeFi protocols. The DEX has been built with the end-user in mind by providing guaranteed transparency, clean and intuitive UI, and a truly decentralized “bank account” for earning interest on deposit funds.
The forthcoming DEX will be powered by a native governance token that will give holders a direct say in how the protocol is run. The xSigma DeFi token will also yield many other benefits, including funneling a portion of all DEX fees to token holders.
xSigma’s decentralized exchange marks only the beginning of a multi-year product lifecycle that includes offering custodial trading and wallet services, a derivatives platform for futures trading, cross-chain lending pools, and a fully licensed stablecoin. With the backing of a multinational NASDAQ-listed company in ZK International, xSigma is in a strong position to carry out its objectives. In doing so, xSigma seeks to capture the true value of decentralized finance.
The merits of the xSigma DeFi project are exemplified in one of the blockchain industry’s most experienced and accomplished teams. xSigma’s product team is led by Alex Lebed, a software engineer with career stops at Facebook, Amazon and 1Inch. Alex is also the founder of Stableunit.org and prizewinner of several hackathons, including ethNY (awards from Binance labs, Wyre, Matic), ethBoston and ethDenver.
The team also features Harvard graduate and former Google engineer Kamal Obbad, and Daniel Garay, a project manager formerly of Ripple Labs and Google. Combined, xSigma’s team of engineers, advisors and software developers are bringing a new level of transparency to the DeFi ecosystem.
XSigma Corporation is building a DeFi ecosystem that can usher the new era of blockchain adoption. The soon-to-be-launched DEX is just the first of many important steps towards that goal.
