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ZK International's Subsidiary, xSigma, Published its Roadmap and Announced Ethereum Layer 2 Plans As its DeFi Project Maintains $110 Million of Locked Value
WENZHOU, China, March 10, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, March 10, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) (\"ZKIN\", \"ZK International\" or the \"Company\"), is pleased to announce that after one week since the launch of xSigma DEX, xSigma Corporation, a subsidiary of the Company and a blockchain R&D lab, is pleased to reveal its roadmap for the coming months. \nAs of the time of this press release, the xSigma DeFi Protocol has $110 Million in Locked Value, our stablecoin DEX has surpassed $6 Million of trading volume. Currently there are over $40 billion worth of total funds locked in the major DeFi protocols, according to defipulse.com.\nAs our DeFi protocol continues to grow, and the price of Bitcoin trades above $54,000, we have outlined the roadmap for the future development of the xSigma DEX post-launch as follows:\n1. Marketing\nAny project will falter without new users learning about it and onboarding. Therefore, we will focus initially on engaging with as many users as possible within xSigma's target market framework outlined in its WhitePaper. We will conduct various marketing activities and promotions, including presenting at online conferences, reaching out to well-known influencers for feedback, presenting on various podcasts, and partnering with prominent players in the DeFi field.\n2. Technical Improvements\nWith any new project there are growing pains, of which there are still some improvements left to be done by our top management team.\nMore specifically, our plan includes:\nDeploying a second stablecoin pool, by April 2021 Adding a SIG-lock pool to the Rewards smart-contract — you will be able to stake SIG to earn additional rewards, by March 2021 Launching the gas cashback program, by April 20213. Fulfilling promises by March 2021\nAs a means of establishing a long-term trust within the xSigma community, we will burn the extra unminted tokens from the Rewards fund to date. We will also burn the same amounts proportionally from the Dev Fund and Growth Fund (30% and 10% accordingly).\n4. DAO Upgrade by April 2021\nWe will roll out a two-stage plan to fully decentralize xSigma. After we finish some preparation on keeping pools running and steady, we will transfer full control of them to the community.\nFirst, we will set up an off-chain DAO where SIG holders will be able to vote proportionally to their stake, but without ...