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 $115 Million worth of liquidity within the first
24 hours (total value locked). This puts xSigma on the list of The
Top-25 DeFi projects by Total Value Locked, according to
https://defipulse.com. The link to the project's website is:
https://xsigma.fi
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 $49,030,694 in USDT,
$40,706,054 in USDC and $26,688,599 in DAI locked in the pool.
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 $850 Billion commitment made by
the Chinese Government to improve the quality of water, which in
its current supply state is 70% unfit for human contact. ZK
International is Quality Management System Certified (ISO9001),
Environmental Management System Certified (ISO1401), and a National
Industrial Stainless Steel Production Licensee that is focused on
supplying steel piping for the multi-billion dollar industries of
Gas and Water sectors. ZK has supplied stainless steel
pipelines for over 2,000 projects, which include the Beijing
National Airport, the "Water Cube" and "Bird's Nest", which were
venues for the 2008 Beijing Olympics. Emphasizing superior
properties and durability of its steel piping, ZK International is
providing a solution for the delivery of high quality, highly
sustainable, environmentally sound drinkable water to not only to
the China market but to international markets such
as Europe, East Asia and Southeast Asia.
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
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SOURCE ZK International Group Co., Ltd.