After years of research and development, xSigma http://xSigma.com/ announced Wednesday that it is launching a decentralized finance (DeFi) protocol. In doing so, xSigma became the first publicly traded enterprise to enter the rapidly growing DeFi arena (NASDAQ:ZKIN).
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. On the one side (maker), it is the system that utilizes users’ cryptocurrencies and earns them a reward from the exchange’s trading fees. On the other side (taker), it provides liquidity to those wanting access to DeFi markets. It has an intuitive interface, and simple easy to use platform, offering decentralized exchange for stablecoins.
A DeFi Milestone
DeFi is the hottest trend in the blockchain industry, with more than $12.86 billion locked into the ecosystem as of the end of November. Decentralized financial systems allow users to participate in blockchain markets and other alternative markets that have been developed on blockchain based networks. Also it enables cross-border payments, as blockchain markets have no borders. As with any blockchain technology, there is ultimate privacy and security when used properly.
Many believe DeFi to be the new paradigm in global finance—one that is backed by foundational open-source networks unfettered by centralization and intermediaries.
Despite its rapid growth, DeFi has generally been the domain of niche technology startups backed by unproven teams. xSigma, the other hand, is a subsidiary of ZK International (NASDAQ:ZKIN), a publicly-traded manufacturing and engineering firm specializing in miscellaneous fabricated metal products.
ZK International 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. xSigma has since pivoted to decentralized finance, focusing on decentralized exchanges, stablecoins and lending protocols. The research lab is now actively working on its ecosystem of products beginning with its DeFi protocol. The ultimate objective is to build a range of financial tools and products for the flourishing decentralized finance industry.
Announced in November, xSigma’s DeFi protocol will serve as an independent financial tool that provides a new level of transparency and legitimacy to financial contracts. Until the main net launch, users who want to be the first to participate in the DeFi protocol have a limited time to register for the whitelist, where they will be the first to receive updates on project developments. Additional details about the new project will be released in the coming weeks.
xSigma’s World-Class Developers
ZK International has recruited the brightest minds from the blockchain arena to its xSigma research lab. The lab is being run by a world-class team of developers who previously worked for Facebook, Amazon, Google, Ripple Labs, 1inch, and other leading companies.
The xSigma team is on the leading edge of blockchain research and development that intersects decentralized finance, supply chain management, IoT, and infrastructure. The DeFi protocol is one of many decentralized finance projects xSigma plans to launch over the next 12 months. It will feed into a growing network of DeFi products for enterprise and consumer markets.
xSigma’s DeFi protocol is launching at an opportune time in the blockchain arena. In addition to the $10 billion currently locked in DeFi, the cryptocurrency market has added $130 billion to its combined market cap over the past 12 months. Outlets like Forbes, Bloomberg, and Asia Times have all declared that we are in the early stages of the next cryptocurrency bull market.
For the latest updates on xSigma’s research initiatives, including its upcoming DeFi protocol, follow xSigma’s Twitter and LinkedIn pages, or visit http://xSigma.com/
Media contact
Company name: xSigma
Contact person: Alex Lebed
City, Country: Wenzhou, China
E-mail: pr@xSigma.fi
Website: http://xSigma.com/
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