The DeFi ecosystem has been growing faster than anyone can keep up with recently. Billions of dollars in digital assets are invested, despite all the problems the current services suffer from. Buggy code, security vulnerabilities and shady anonymous developers are just some of the issues that can make the DeFi space too risky right now. Luckily this is all about to change as xSigma is releasing a new DeFi DEX protocol, in a first entry into the field of a project backed by a NASDAQ-listed company.
xSigma to Usher In A New Age of DeFi DEX
ZK International Group Co., Ltd. (Nasdaq: ZKIN) has revealed on Monday, Nov. 23, that it is providing funding for its wholly-owned subsidiary, xSigma, to enter the decentralized finance space, focusing on decentralized exchanges. The significance of this move for the DeFi ecosystem can not be overstated as this is the first time ever a publicly listed company has backed a development in the field.
The xSigma DeFi protocol will power a DEX that will be as rewarding for liquidity providers as the field is known for, while also minimizing risk for all users. The developers have created an intuitive interface that will make it easy for newcomers to trade on top of a sophisticated engine that supports the pooling of ERC20 assets without the risk of impermanent loss.
The xSigma DeFi will offer a single entry point for the ecosystem, suitable for all users, that can serve as a decentralized “bank account” for earning interest on deposited funds. It will feature controlled and sustainable token emission and have no complex governance – dividends distributed through token burn. The researchers at xSigma explain that they tackled the underlying problems of AMMs from the ground up and achieved a breakthrough in non-custodial trading that eliminates risk for token-holders whose assets are pooled.
A Team You Can Trust
ZK International is a China-based company that is focused on supplying steel piping for the massive Gas and Water sectors. It worked on over 2,000 projects, including the Beijing National Airport, the “Water Cube”, and “Bird’s Nest”, which were venues for the 2008 Beijing Olympics. The Nasdaq listed company launched xSigma as a research and development lab back in 2018 to solve real-world infrastructure challenges and explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions.
The xSigma team includes world-class developers with previous experience working for Google, Facebook, Ripple Labs, 1inch and other successful technology companies. The developers of the DeFi protocol will come from the leading edge of blockchain research that intersects decentralized finance, supply chain management, IoT, and infrastructure. The identities and expertise of the team will be published on the lab’s website, bringing a level of trust and transparency that is much needed in the DeFi space these days.
The xSigma DeFi will launch as a stablecoin DEX, powered by a native governance, and support for lending and borrowing services will be added later on. The xSigma DeFi token will yield a number of benefits beyond governance, including funneling a portion of all DEX fees to token holders. To align incentives between the xSigma team and its community, team and LP tokens have committed to vest gradually over the course of two years.
To learn more about xSigma, its world-class team and new DeFi protocol visit the lab’s website at xSigma.com right now, and follow its Twitter and LinkedIn pages for updates.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
The post xSigma DeFi Is a Game Changing Protocol Backed by a NASDAQ Listed Company appeared first on Bitcoin News.
https://news.bitcoin.com/xsigma-defi-is-a-game-changing-protocol-backed-by-a-nasdaq-listed-company/
