WENZHOU, China, June 10, 2021 /PRNewswire/ -- ZK International
Group Co., Ltd. (Nasdaq: ZKIN)
("ZKIN", "ZK International" or the "Company"), is pleased to
announce that xSigma DEX, a DeFi project by ZK International's
subsidiary, xSigma Corporation, surpassed $1
billion of total volume. xSigma DEX allows users to swap
stablecoins, such as USDT, USDC and DAI. So far, the project
processed over $400 million for
stablecoin exchange transactions and over $600 million for liquidity provider
transactions.
xSigma is also pleased to announce that it is currently working
on major upgrades for the DeFi project, such upgrades will
include:
1) A bridge for transferring its governance token (SIG) to
the Binance Smart Chain (BSC) network;
2) Upgraded pools that will enable a buyback of the SIG
tokens; and
3) Time locks for liquidity pools.
Also, the CTO of xSigma, Alex
Lebed, shared some insights about the future plans for the
DEX during an interview hosted by Jane
King on the New to the Street show, which was also aired on
Bloomberg TV and Fox.
https://newtothestreet.com/new-to-the-street-interviews-alex-lebed-the-chief-technology-officer-at-zk-international-inc
xSigma's team is working on getting the software ready before it
finally goes live on the BSC network, focusing on security. The
xSigma DEX has proven to be one of the securest decentralized apps
on the market due to the rigorous quality standards it enacts.
These days, security is proving to be a major problem for many
Apps, while xSigma decided to take additional steps to ensure user
safety before its releases any updates.
xSigma DEX will be launching on BSC soon. xSigma is attempting
to provide one of the most secure ways to earn interest to
stablecoins on Binance Smart Chain, with minimal risk and no
impermanent loss. The launch will be accompanied by a marketing
campaign, and special incentives will be offered to early LPs on
the BSC. xSigma DEX's website can be found at:
https://xsigma.fi
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 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 , www.xsigma.fi ,
https://xsigma-trading.com and
https://xsigma-nft.com
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.