ZK's International Subsidiary, xSigma Corporation, Hits the Top 25 of the Industry's Biggest DeFi Projects and Achieves $115 Million of Value Locked on Opening Day
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, launched its DeFi protocol, achieving over $115 million in liquidity within the first 24 hours, ranking it among the Top-25 DeFi projects. The liquidity pool includes $49 million in USDT, $40 million in USDC, and $27 million in DAI. The launch has garnered significant media attention and community involvement, including endorsements from notable figures. CEO Jiancong Huang expressed excitement about future blockchain product launches.
- xSigma Corporation's DeFi protocol achieved over $115 million in liquidity within the first 24 hours.
- Ranked among the Top-25 DeFi projects by Total Value Locked.
- The liquidity pool contains $49 million in USDT, $40 million in USDC, and $27 million in DAI.
- Strong community engagement and media attention surrounding the launch.
- Potential risks associated with the DeFi protocol, including susceptibility to hacks.
WENZHOU, China, Feb. 25, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to announce that xSigma Corporation, a subsidiary of the Company and a blockchain R&D lab, has successfully launched its DeFi protocol, getting over
The Company launched its decentralized stablecoin exchange and started the liquidity mining program, where Liquidity Providers ("LPs") can earn rewards in SIG token using stablecoins. So far, xSigma has
Being featured by numerous news outlets, xSigma has successfully built a community with a population of thousands of people and has garnered attention for its DeFi protocol. xSigma attracted key individuals and institutional LPs; it has also been endorsed by Dwight Howard, a professional basketball player and NBA Champion, which all helped with the Company building its exposure.
Mr. Jiancong Huang, Chairman and Chief Executive Officer of ZK International, stated, "We are excited about the launch of our highly anticipated DeFi protocol. Hundreds of LPs joined in the first hours, as the protocol got a lot of attention, locking crypto worth millions. We look forward to launching more 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.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:SOURCE ZK International Group Co., Ltd.
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