xSigma is an upcoming stablecoin DEX protocol developed by the first DeFi project backed by a NASDAQ-listed company. In order to attract liquidity providers to supply their stablecoins to the decentralized exchange, the protocol will feature a lucrative rewards system for liquidity mining. The project recently finalized its smart contract and today released its whitepaper to the public.
Provide Stablecoins, Earn SIG Tokens
DeFi investors have earned some great yields recently, but also fallen victim to scammers, hackers and just awful programmers. For this reason it is good to find a project you can trust with your digital assets before you make the leap. And you can’t find a project more focused on minimizing these risks for liquidity providers than xSigma DeFi. This is a DEX protocol developed by a team full of top-notch software developers and a lab backed by a NASDAQ-listed company.
One of the main goals of xSigma is to make the process as safe, user-friendly and profitable for liquidity providers as possible. All that liquidity providers have to do is to supply stablecoins, which they can withdraw back at any time, and the system will take care of the rest and earn them SIG tokens while they seat back. One might think of it as an “Uber for market-makers,” where instead of every investor working for himself, the technology aggregates the best returns.
Recently xSigma also introduced an enhanced rewards system for early adopters where liquidity providers can expect to earn extra lucrative incentives for the first couple of weeks at the protocol’s launch. Up to twice the rewards for the first week. The developers also work to keep the rewards coming, using a scalable system to incentivize ongoing stablecoin farming. All liquidity providers additionally benefit from better exchange fees on the decentralized exchange.
xSigma Whitepaper Released Today
As mentioned above, xSigma is the first DeFi project backed by a NASDAQ-listed company. The lab is a wholly-owned subsidiary of ZK International Group Co., Ltd. (Nasdaq: ZKIN), a major China-based company that is focused on supplying advanced steel piping. The impressive xSigma team also includes world-class developers with previous experience working for Google, Facebook, Ripple Labs, 1inch and other technology companies.
Each one of these factors would make it stand out from the crowd of DeFi projects by its own right, but having both an incredible backing and an impressive team make xSigma truly remarkable. The SIG token powering the system also has great fundamental factors supporting its value.
The supply of tokens will be tightly controlled, with most of it going to liquidity providers, and SIG will be burned with exchange fees. This will both reduce the supply and, at the same time, increase the demand as more users will need to get SIG to use the platform. Holding SIG will also be needed to vote in the xSigma DAO, which will control future token issuance, thus putting the power of limiting supply mostly in the hands of liquidity providers. Additionally, the xSigma is being marketed very professionally and transparently in contrast to most of the DeFi projects out there which is use to attract more prudent investors.
The xSigma team is hard at work developing the protocol and new developments are happening at a constant pace. December 29, 2020 the team announced the completion of the smart contract which was sent to extensive technology software audits to ensure the safety of funds and integrity of the system. And today, January 12, 2021, the xSigma whitepaper was released. The 17-pages document provides a straightforward introduction to the protocol and what makes xSigma superior to existing DeFi protocols.
To keep up to date to future developments with xSigma, its new DeFi protocol and the lucrative rewards system for liquidity providers visit the lab’s website at xSigma.com anf the project at xsigma.fi. For more join the community on Discord, Twitter and Telegram.
Credit: Bitcoin News