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ZK International's Subsidiary, xSigma Corporation, Launches its Blockchain DeFi Protocol
WENZHOU, China, Nov. 25, 2020 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), a designer,
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, Nov. 25, 2020 /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, today announced that its wholly-owned subsidiary, xSigma Corporation, (\"xSigma\") www.xsigma.com is launching a Decentralized Finance (\"DeFi\") protocol which aims to provide a new level of transparency and legitimacy to decentralized financial blockchain-based smart contracts. In doing so, the Company with its investment in xSigma will become one of the first publicly traded enterprise to invest and enter the growing DeFi arena.\nxSigma'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 providers side who provide crypto for exchanges, it is the system that utilizes users' cryptocurrencies and earns them a potential reward from the exchange's trading fees. On the customer's side who execute the exchanges, it provides liquidity to those wanting access to DeFi markets. The protocol being developed is expected to have an intuitive interface, and easy-to-use platform, offering decentralized exchange for stablecoins.\nA DeFi Milestone\nWhat is DeFi? DeFi is the hottest trend in the blockchain industry, with more than $9 billion locked into the ecosystem as of the end of September.[1] 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 transparency and security, when used properly.\nxSigma's DeFi protocol is launching at an opportune time in the blockchain arena. In addition to the $9 billion currently locked in DeFi [1], the cryptocurrency market keeps growing and has added billions of dollars in market cap over the past 12 months as indicated in publications like Forbes, Bloomberg, and Asia Times, which have all declared that we are in the early stages of the next cryptocurrency bull market.\nMany believe DeFi to be the new paradigm in glo...