PRESS RELEASE. February 24, 2021 â€“ xSigma, a decentralized exchange for stablecoin swaps, has announced details of its launch program. The DEX, which supports liquid swaps between stablecoin pairs, will go live on February 24, having passed a third-party security audit.
Blockchain security company Hacken audited the xSigma smart contracts and found no critical errors in the code, green-lighting the Ethereum-based exchange to launch as scheduled. A second security audit is underway to give the xSigma community additional confidence in the code powering the AMM.
Backed by a NASDAQ-listed company, and developed by an experienced team that includes former Google engineers, xSigma has secured the support of several high profile backers. These include NBA star Dwight Howard, who has committed to participating in the xSigma launch as an early liquidity provider (LP).
LPs will earn double rewards for the first fortnight to incentivize adoption and ensure a liquid environment for executing stablecoin swaps with minimal slippage. Ahead of its launch, xSigma has created a detailed guide for liquidity providers, walking them through the process of LPâ€™ing and staking their pool share tokens to earn SIG, the protocolâ€™s native governance token.
In addition to providing LP rewards for pooled USDT, USDC, and DAI, xSigma will incentivize a Uniswap liquidity pool for ETH/SIG. The xSigma DEX is scheduled to launch on February 24 at 13:00 EST (18:00 UTC), ushering in a new era for efficient stablecoin swaps.
xSigma is a stablecoin DEX powered by a governance token that gives holders the right to determine how the protocol should be managed. Token-holders receive a percentage of all DEX fees, with team and LP tokens vested gradually for two years to align incentives between the platform and its community. xSigma is backed by its parent company ZK International Group, a NASDAQ-listed corporation.