ZK International Subsidiary, xSigma Corporation, Announces its DeFi Protocol Launch Date
On February 17, 2021, ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, will launch a DeFi Protocol on February 24, 2021. This protocol is a stablecoin decentralized exchange (DEX) and liquidity mining platform, generating significant interest, including from investors like NBA champion Dwight Howard. The platform's smart contracts have been audited by Hacken, scoring as 'well-secured.' With over $40 billion in the DeFi space, xSigma aims to establish itself as a key player, leveraging a team of experienced engineers from leading tech companies.
- xSigma's DeFi Protocol launch scheduled for February 24, 2021, generating high anticipation.
- Partnership with Dwight Howard as an early liquidity provider enhances market visibility.
- Smart contracts audited by Hacken with a 'well-secured' score, indicating robust security.
- xSigma positioned as one of the first publicly backed DeFi projects, adding credibility.
- None.
WENZHOU, China, Feb. 17, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, is pleased to announce that xSigma Corporation, a subsidiary of the Company and a blockchain R&D lab, is announcing that the launch of its DeFi Protocol is scheduled for 24th of February, 2021. The exact time will be announced on xSigma's website (https://xsigma.fi) and in its social networks.
xSigma's DeFi Protocol is a stablecoin DEX and liquidity mining platform. The highly anticipated project has gathered attention from a community of thousands of people, as well as attention of thousands of liquidity providers (LPs) on its waitlist. Part of this excitement has also gained the attention of Dwight Howard, a professional basketball player and NBA champion, who has committed to joining the xSigma Protocol as an early LP.
The Company and xSigma have always taken the approach that they will conduct themselves as best in class, and part of this commitment, xSigma's smart contracts of the platform have been audited by Hacken, a leading European security firm specialized in blockchain, and after several months of auditing, the protocol has successfully passed a check with a "well-secured" score.
xSigma's DeFi Protocol is one of the first projects in the DeFi space backed by a public company. xSigma's team includes former engineers of Facebook, Google, Ripple, and Amazon. The DeFi industry keeps growing and now has over
Mr. Jiancong Huang, Chairman and Chief Executive Officer of ZK International, stated, "xSigma has been a highly anticipated project since the first announcement. The industry has grown more than twice since we introduced our first project, the xSigma DeFi, which is a great sign. We look forward to the successful launch of the DEX and to launching more fintech and blockchain products in the future."
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 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to capitalize on the
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. 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. The xSigma team that are being assembled are 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. Any blockchain protocol is subject to a degree of risk; xSigma's DeFi protocol has implemented tamper-resistant programming, but is still subject to potential hacks.For further information about xSigma, please visit its website at www.xsigma." www.xsigma.com and www.xsigma.fi
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company's filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
View original content:http://www.prnewswire.com/news-releases/zk-international-subsidiary-xsigma-corporation-announces-its-defi-protocol-launch-date-301229789.html
SOURCE ZK International Group Co., Ltd.
FAQ
What is ZK International's upcoming DeFi Protocol launch date?
Who is supporting xSigma's DeFi Protocol?
What security measures has xSigma taken for its DeFi Protocol?
How much funds are currently locked in the DeFi space?
What is the focus of xSigma Corporation?
