PRESS RELEASE. ZK International Group Co., Ltd. (Nasdaq: ZKIN) (“ZKIN“,”ZK InternationalOr the ‘Company’), a designer, engineer, manufacturer and supplier of patented high quality stainless steel and carbon steel pipe products mainly used for water and gas supply, is pleased to announce its ETF-like decentralized fund and platform, it is 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 Ethereum blockchain, which will diversify between major crypto assets related to the DeFi space. In addition, it provides a platform for others to create indexes and it will be branded and known as xTF by xSigma.
The decentralized smart contract application (DApp) is expected to act as an index of the major DeFi tokens, allowing crypto investors to take advantage of the overall growth of a greater portion of the DeFi market and potentially reduce risk and transaction costs. XTF by xSigma is also expected to enable others to create their own ETF-like decentralized funds in a few clicks. It allows institutions and individuals to create their own indexes, raise capital and earn from trading fees and expense ratios. The benefits can be configured and different business models can be implemented. Finally, the platform is expected to become a marketplace or aggregator of various indices.
Indexes are presented in the form of tokens issued on Ethereum blockchain. Users can buy or spend ETF-like tokens with ETH. Issuing tokens means increasing the size of the fund and requires more assets to the fund. To get money from the capital, the number of tokens must be burned. It is critical that all people dealing with the DApp maintain control of their crypto assets (e.g. Ethereum) and be able to deposit assets into the DApp as they see fit and withdraw them from the DApp using their own crypto asset portfolios.
The DeFi industry now has crypto more than worth it $ 21 billion locked in important protocols, according to the DeFi Pulse website. xSigma is now targeting the DeFi space with two projects: DeFi protocol (stablecoin DEX) and xSigma’s newly announced ETF-like protocol xTF. The ultimate goal of xSigma is to build an ecosystem of finance and blockchain products.
Mr. Jiancong Huang, Chairman and CEO of ZK International, stated, “We are pleased to announce that xSigma now has two projects in the DeFi space. We look forward to bringing innovation to the blockchain and financial industry with the xSigma team. “
The release of the xTF by xSigma is scheduled for the second quarter in 2021 and technical details will be revealed shortly. xSigma expects to generate fees from the operation of the fund in the future. The project will not be a regulated financial product and the xSigma team will not have access to digital assets deposited in the DApp.
Some elements of the platform’s protocol will be immutable, while others will be changed according to the votes of a decentralized autonomous organization (DAO) that will determine important decisions regarding the protocol. Votes will be cast using governance tokens automatically issued by the protocol ERC-20 tokens, according to the terms of the protocol. As a utility token, such governance tokens will not be registered with a securities regulator or other regulatory body. xSigma expressly disclaims all representations regarding the actual or expected value of tokens issued on any of its DeFi Protocols; they don’t have to have any value at all because it serves as the governance token for a DAO.
The protocol is not an ETF, in the conventional sense of the word; it is not registered, licensed, or regulated by any exchange or government regulatory body. Instead, the protocol will be a smart contract published on the Ethereum blockchain and open for anyone to inspect and join as they please. Further details regarding the protocol will be discussed in a white paper to be published by xSigma prior to the protocol’s launch.
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of proprietary high-quality stainless steel and carbon steel pipe products requiring advanced 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 take advantage of the Chinese government’s $ 850 billion pledge to improve the quality of its water, which is 70% unsuitable for human contact in its current state. ZK International is certified for quality management system (ISO9001), certified for environmental management system (ISO1401) and a national industrial stainless steel manufacturing licensee focusing on providing steel pipes for the multi-billion dollar industries of the gas and water sector. ZK has supplied stainless steel pipelines for more than 2,000 projects, including the Beijing National Airport, the “Water Cube” and “Bird’s Nest”, where the 2008 Beijing Olympics took place. By emphasizing the superior properties and durability of the steel pipes, ZK International offers a solution for the supply of high quality, highly sustainable, environmentally friendly drinking water not only to the Chinese market, but also to international markets such as Europe, East Asia and Southeast Asia.
Visit for more information www.ZKInternationalGroup.com. In addition, monitor the company Twitter, Facebook, YouTube, and Weibo. For more information about the company SEC you can visit submissions www.sec.gov.
About XSigma Corporation
XSigma Corporation, is a wholly owned subsidiary of ZK International Group Co., Ltd. Together with ZK International, launched xSigma in 2018 as a research and development laboratory to solve real infrastructure challenges. The mandate was to explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions. XSigma has since focused on decentralized financing, with an emphasis on decentralized exchanges, stablecoins and credit protocols. The research lab 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 being assembled is at the forefront of blockchain research and development that traverses decentralized finance, supply chain management, IoT and infrastructure. The DeFi Protocol is one of many decentralized financing projects that xSigma plans to launch in the next 12 months. It will contribute to a growing network of DeFi products for enterprise and consumer markets. Every blockchain protocol is subject to some risk; XSigma’s DeFi protocol has implemented tamper-resistant programming, but is still subject to potential hacks. For more information about xSigma, visit 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 as defined in the U.S Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as’ can ‘,’ will ‘,’ expect ‘,’ believe ‘,’ anticipate ‘,’ intend ‘,’ may ‘,’ estimate “or” continue “or its negative or other variations or similar terminology are intended to identify forward-looking statements. In addition, all statements that refer to expectations, projections or other characterizations of future events or conditions 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, many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements because of risks and uncertainties, as well as other risk factors included in the company’s filings with the company. United States Securities and Exchange Commission. While ZK International believes that the assumptions underlying forward-looking statements are reasonable, all assumptions may prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be achieved. In light of the significant uncertainties inherent in the forward-looking information contained herein, the inclusion of such information should not be construed as a representation by ZK International or any other person that their goals or plans will be achieved. ZK International does not undertake any obligation to update the forward-looking statements in this document to reflect events or conditions after their date or to reflect the occurrence of unexpected events.
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