Benzinga | Feb 17, 2021 08:46AM EST

ZK Int'l Reports Its xSigma Subsidiary Set Its Launch Date For DeFi Protocol As Feb. 24, 2021

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, is pleased to announce that xSigma Corporation, a subsidiary of the Company and a blockchain R&D lab, is announcing that the launch of its DeFi Protocol is scheduled for 24th of February, 2021. The exact time will be announced on xSigma's website ( https://xsigma.fi) and in its social networks.

xSigma's DeFi Protocol is a stablecoin DEX and liquidity mining platform. The highly anticipated project has gathered attention from a community of thousands of people, as well as attention of thousands of liquidity providers (LPs) on its waitlist. Part of this excitement has also gained the attention of Dwight Howard, a professional basketball player and NBA champion, who has committed to joining the xSigma Protocol as an early LP.

The Company and xSigma have always taken the approach that they will conduct themselves as best in class, and part of this commitment, xSigma's smart contracts of the platform have been audited by Hacken, a leading European security firm specialized in blockchain, and after several months of auditing, the protocol has successfully passed a check with a "well-secured" score.

xSigma's DeFi Protocol is one of the first projects in the DeFi space backed by a public company. xSigma's team includes former engineers of Facebook, Google, Ripple, and Amazon. The DeFi industry keeps growing and now has over $40 billion of funds locked in the major DeFi protocols, according to defipulse.com.

Mr. Jiancong Huang, Chairman and Chief Executive Officer of ZK International, stated, "xSigma has been a highly anticipated project since the first announcement. The industry has grown more than twice since we introduced our first project, the xSigma DeFi, which is a great sign. We look forward to the successful launch of the DEX and to launching more fintech and blockchain products in the future."