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PRESS RELEASE. 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 tubing products primarily used for water and gas utilities, is pleased to announce its ETF-like decentralized fund and platform This is the second DeFi project in the xSigma ecosystem. The project website: https://xsigma-etf.com.
The announced ETF-like protocol will be a decentralized fund based on the Ethereum blockchain that will diversify between key crypto-related assets related to the DeFi space. In addition, it will provide a platform for others to build indexes on, and it is referred to as xTF by xSigma.
The decentralized smart contract application (DApp) is expected to act like an index of the major DeFi tokens, allowing crypto investors to benefit from the overall growth of a larger share of the DeFi market and potentially reduce risks and transaction costs. xTF from xSigma should also enable others to create ETF-like decentralized funds themselves with just a few clicks. It will enable institutions and individuals to create their own indices, attract capital, and earn trading fees and expense ratios. The fees can be configured and various business models implemented. Eventually, the platform is expected to turn into a marketplace or aggregator of various indices.
Indices are represented in the form of tokens that are issued on the Ethereum blockchain. Users can buy or spend ETF-like tokens with ETH. Spending tokens means growing the fund and adding more assets to the fund. Withdrawing funds from the capital requires burning the appropriate number of tokens. It is crucial that all persons who deal with the DApp maintain control over their crypto assets (e.g. Ethereum) and are able to deposit assets into the DApp and use them at their own discretion with their own crypto Remove asset wallets from the DApp.
The DeFi industry is now worth over $ 21 billion Banned in major logs, according to DeFi Pulse website. xSigma is now targeting the DeFi area with two projects: the DeFi protocol (Stablecoin DEX) and the newly announced ETF-like protocol xTF from xSigma. XSigma’s ultimate goal is to build an ecosystem of products for finance and blockchain.
Mr. Jiancong Huang, Chairman and Chief Executive Officer of ZK Internationalexplained: “We are pleased to announce that xSigma now has two projects in the DeFi area. We look forward to bringing innovations to the blockchain and finance industries with the xSigma team. “
The publication of the xTF by xSigma is planned for the second quarter of 2021. Technical details will be announced shortly. xSigma expects to generate fees from the Fund’s operations in the future. The project will not be a regulated financial product and the xSigma team will not have access to digital assets stored in the DApp.
Some elements of the platform’s protocol will be immutable while others will need to be changed according to the votes of a decentralized autonomous organization (DAO) that governs important decisions related to the protocol. Votes are cast using governance tokens, which are ERC-20 tokens that are automatically issued by the protocol in accordance with the terms of the protocol. As utility tokens, such governance tokens are not registered with a securities regulator or any other regulatory authority. xSigma expressly waives any representations regarding the actual or predicted value of tokens issued in any of its DeFi logs. They don’t have to be of any value at all as this acts as a governance token for a DAO.
The protocol is not an ETF in the traditional sense; It is not registered, licensed, or regulated by any stock exchange or government regulator. Instead, the protocol will be a smart contract that will be published on the Ethereum blockchain and accessible to everyone so they can view and edit it as they see fit. Further details on the protocol will be discussed in a white paper published by xSigma prior to the protocol launch.
over 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 piping systems. The company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to benefit from the Chinese government’s $ 850 billion pledge to improve water quality, 70% of which is 70% unsuitable for human contact in its current state of supply. ZK International is a certified quality management system (ISO9001), certified environmental management system (ISO1401) and a national licensee for the production of industrial stainless steel, which focuses on the supply of steel pipes for the multi-billion dollar gas and water sector. ZK has supplied stainless steel pipelines for over 2,000 projects, including the Beijing National Airport, the “water cube” and the “bird’s nest” were the venues for the 2008 Olympic Games in Beijing. Highlighting the superior properties and durability of its steel pipes, ZK International offers a solution for the delivery of high quality, extremely sustainable and environmentally friendly drinking water not only to the Chinese market, but also to international markets such as Europe, East Asia and Southeast Asia.
For more information, please visit www.ZKInternationalGroup.com. Please follow the company on Twitter, Facebook, Youtube, and Weibo. More information about the company SEC Please visit submissions www.sec.gov.
over XSigma Corporation
XSigma Corporationis a wholly owned subsidiary of ZK International Group Co., Ltd. Along with ZK International, started xSigma in 2018 as a research and development laboratory to solve real infrastructure problems. The mandate was to explore new opportunities for smart contracts, supply chain management and other blockchain-based solutions. XSigma has since turned to decentralized finance, focusing on decentralized exchanges, stable coins, and credit protocols. The research laboratory is now actively working on its ecosystem of products, starting with the DeFi protocol. The ultimate goal is to develop a range of financial instruments and products for the thriving decentralized financial industry. The xSigma team that is being assembled is a leader in blockchain research and development, which connects decentralized finance, supply chain management, IoT and infrastructure. The DeFi protocol is one of many decentralized finance projects that xSigma would like to start in the next 12 months. It will feed into a growing network of DeFi products for corporate and consumer markets. Every blockchain protocol is subject to some risk. XSigma’s DeFi protocol has implemented tamper-proof programming but is still exposed to potential hacking actions. For more information on xSigma, see the website at www.xsigma.com and www.xsigma.fi.
Safe Harbor Statement
This press 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 defined US Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “might,” “estimate,” or “may” “Continue” or the negative or other deviations therefrom or comparable terminology are intended to identify forward-looking statements. In addition, all statements that relate 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 our control ZK International. Actual results may vary due to risks and uncertainties as well as other risk factors disclosed in the company’s filings with the US Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, one of the assumptions could prove to be inaccurate and therefore no guarantee can be given that the results contained in any forward-looking statements will be implemented. In view of the significant uncertainties associated with the forward-looking information contained herein, inclusion of such information should not be considered a representation of ZK International or any other person whose goals or plans are being achieved. ZK International assumes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date of this document or the occurrence of unexpected events.
Sherry Zheng Weitian Group LLC
Email: [email protected]
Phone: +1 718-213-7386
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