NASDAQ –
BACKED – DEFI NEWS -2023
We’re going to talk about xsigma, which is a stable coin exchange, that’s being
released soon, which is aiming to have a better
UI better liquidity provider rewards and better fees for each user.
Keep in mind this site is for educational informational
purposes only. I’m not a registered financial adviser. I don’t know what the price of these coins will do
tomorrow, and neither do you.
That being said, let’s take this time to learn, and let’s,
and I want to start with. Who is this publicly-traded company on the NASDAQ, that’s behind the project,
their name is zk international group, with the public ticker zk in, and they’re
an engineering slash manufacturing company?
Specifically, zk
International Group, 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 actually at the end
of last year announced that its wholly-owned subsidiary, xsigma Corporation, xsigma is launching a decentralized finance
protocol.
So this is a company that was already well established
before deFi now that they’re jumping
in with their own deFi protocol, what problem are they aiming to solve, they’re
aiming to provide a new level of
transparency and legitimacy to decentralized financial blockchain-based smart
contracts.
So in their words, while there’s so much money, so much
value right now being put into deFi people see the potential people see the opportunity that is decentralized finance. At the same time, we are still very
much in the wild wild west of the space, does the code have bugs.
Is it an anonymous development team, many potential barriers
to entry. And to that is sort of the potential opportunity that Zika international
sees in launching their own defi protocol, maybe they can merge traditional
finance like them into the defi world, as they say in their press release xsigma
is public backing into World-Class development team is aiming to bring a new
level of transparency, accountability, and legitimacy to the defi sector,
through Zk international xsigma can help bridge the gap between the
booming crypto defi vertical, and the functionality of more established trade
five platforms trading financial platforms.
The result is a solution that combines the best of both
worlds. The trustless design of defi, coupled with the functionality of
traditional finance and it should be noted that Zika international actually
launched xsigma back in 2018, as a research and development lab to solve
real-world infrastructure challenges, its mandate was to explore new
opportunities in smart contracts, supply chain management, and other blockchains based solutions.
Since then, xsigma
has since pivoted to decentralized finance, focusing on decentralized exchanges
stable coins and lending protocols, the ultimate objective is to build a
range of financial tools and products for the flourishing decentralized finance
industry, so that is zk international
in a nutshell.
Now let’s talk about the team. First off, with their CTO,
Alex Lebed, a former engineer at Facebook,
Amazon and also one inch decentralized exchange, and we can double-check
all this information publicly on LinkedIn.
Alex
what is now Chief Technology Officer at xsigma, one
of his prior jobs? Software Engineer at one inch and his whole pedigree are
listed below. Let’s keep going.
We also have Kemal, who is the head of research at xsigma,
formerly an engineer at Google, as a Harvard Graduate also made it in Forbes
under 30, which is a huge deal. Feel free to check out the website down below
to go deeper on the team. I do want to highlight Jesse brahmer, who is the
former senior engineer at ripple has
left ripple and has now joined the xsigma team.
According to the press release, Jesse Bronner prior to joining xsigma was a senior software engineer at
Ripple Labs, the company behind XRP, where he helped to scale the on demand
liquidity product from proof of concept to a platform, supporting multiple fiats
currencies, and processing $500 million worth of XRP per month.
So obviously, nothing is certain in crypto but teams like
this, with experience with pedigrees. This is what I like to see. So what is xsigma,
which is supposed to be released soon is a stable
coin exchange and a liquidity mining platform, backed by a public NASDAQ company, and how they’re aiming
to differentiate themselves from my understanding is they’re trying to provide
better incentives for liquidity providers as well as cheaper fees cheaper
transactions for customers. So let’s dig deeper on that. Basically, xsigma
has two main elements, swap and staking, which is actually farming. So what is
the xsigma protocol.
xsigma is a decentralized stable coin
exchange aiming to have a clean UI exchange subsidy, and a liquidity mining the program, and it’s going to be built on the Ethereum
blockchain.
So I believe it’s an ERC 20 token and seeing it’s built it’s
playing to function within the ethereum ecosystem. xsigma is
built on top of the curve slash swerve swap mechanism with a view to improve
them. So one, it’s designed with a lower fee structure and also while
traditionally, you know this token swaps require buyers and sellers to create
liquidity xsigma defi protocol creates markets, automatically, and , In summary, the xsigma protocol is aiming to be a more complete version of
other defi platforms, specifically for customers, but also liquidity providers.
So cheaper fees point to 4% for customers of trading, which
goes to impart the liquidity providers. Interesting. how else are they
incentivizing LPs? Well, in their words twice the rewards twice the fun. If you
choose to hop on and become an early LP on xsigma liquidity providers,
get two times the rewards during the first week, and they get 1.5 extra rewards
during the second week, and they’re really aiming to have the best incentives
for those LPs.
So in total, 60% of all SIG their token will be allocated to
liquidity providers, leaving 30% to r&d and then 10% to the growth fund. So
60% is going to those LPs, and then future token issuance will be controlled by
the xsigma dow, the people, the people that hold the token, ensuring
that SIG tokens are used to optimize and expand the ecosystem. Very interesting
stuff. If you’re an LP for other protocols comment below. Give me your thoughts
on this. So check out the white paper.
While most crypto exchanges charge a fee of up to point 3% on transaction
volume xsigma takes point two 4%, so it’s better for the customers to slash
better writers and let’s dig deeper.
What is the token’s utility? Well, it is a governance token,
the xsigma governance token is called SIG, and keep in mind it has no
intrinsic value. It’s only meant to give the community power to help vote on
the governance, another utility of the token is you can claim part of every dex a fee that takes place on the exchange, so holders are in a part of the fees, and
they go on they have a very detailed white paper I’m going to link it down
below in the description. Check it out. Okay, that is xsigma in a
nutshell, give me your thoughts down below.
I guess the biggest risk is, this is a new protocol, there’s
a lot of promise, but we’ll have to see if liquidity providers, come to the
exchange, how much for how long. I’m going to link this down below and give me
your thoughts like oh.
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