Fun

xSigma DEX Launch: More Than $100M in Liquidity Pooled on First Day

News Feed - 2021-03-03 06:03:01

xSigma DEX Launch: More Than $100M in Liquidity Pooled on First Day press release


PRESS RELEASE. xSigma, a decentralized exchange for stablecoin swaps, has successfully launched on the Ethereum network on February 24, 2021.


The integrated DEX and liquidity mining platform xSigma, which is backed by a NASDAQ-listed company, has seen great interest in its stablecoin liquidity pools which enable assets to be swapped seamlessly and with minimal slippage. Within the xSigma ecosystem, liquidity providers (LPs) earn SIG tokens, with a 2x bonus to bootstrap liquidity in place for the next fortnight. SIG is the platform’s native utility token with built-in voting and value accrual mechanisms.


$150 million of liquidity has been pooled in xSigma DEX (as of February 28) and almost $10m of SIG has been allocated to LPs. Pool 1 and 2 continue to offer some of the highest yields in the defi space, at 125% and 2700% respectively. DEX volume has surpassed $700k per day.


$20m worth of SIG tokens were traded on launch day and there is over $100 million of stablecoins pooled, comprising USDC ($40m), USDT ($40m) and DAI ($23m), as of 1st March. The SIG token has also been listed on major aggregators such as CMCand CoinGecko. xSigma recently integrated into 1inch.exchange, the leading DEX aggregator.


 


About XSigma


xSigmais 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.


 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Tezos Ties-Up with Wolfram Blockchain Labs to Simplify Smart Contract Deployment ALTCOINS | 2 hours ago An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash TECHNOLOGY | 5 hours ago Tags in this story DEX, Liquidity Pool, xSigma


Image Credits: Shutterstock, Pixabay, Wiki Commons Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here.

News Feed

Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower as Commodity Prices Hit New Highs
Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower as Commodity Prices Hit New Highs Cryptocurrencies were once again trading lower on Tuesday, as markets were mainly focu
New Paper: Ripple Network Doesn’t Meet Criteria To Reach Consensus
New Paper: Ripple Network Doesn"t Meet Criteria To Reach Consensus A brand-new paper which analyzes the Ripple network concluded that the network does not reach
Is Bitcoin Price Doomed For $93K? Technical Indicators Paint A Bearish Image
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Ontario Regulator Lets Security Token Startup Test Secondary Trading
The Ontario Securities Commission (OSC) is allowing a tokenization startup to facilitate secondary-market trading of its tokens by giving the firm regulatory relief for a short time.
‘Solana Season Is About To Return’ As Price Turns Key Resistance Into Support – Analyst
Este artículo también está disponible en español. Solana has captured the spotlight this week with its volatile price action, demonstrating resilience amidst market uncer
Investment Adviser Warns It’s a Mistake to Ignore Crypto Assets, Predicts Cryptocurrencies Will Outperform Equities
Investment Adviser Warns It"s a Mistake to Ignore Crypto Assets, Predicts Cryptocurrencies Will Outperform Equities Blueprint Capital Advisors CEO Jacob Walthour says it’s a
Coinbase Blacklists Over 25,000 Crypto Addresses Tied to Russian Individuals and Entities
Coinbase Blacklists Over 25,000 Crypto Addresses Tied to Russian Individuals and Entities The cryptocurrency exchange Coinbase has addressed the company’s procedures toward
Devcon Shows Ethereum’s ‘World Computer’ Is a Movement, Not a Product
If there’s anywhere in the world where it feels right to believe in magic, it’s Devcon 5 in Osaka, Japan. The ethereum community faces a daunting task: scale its block
African Fintech Startups Raised $1.45 Billion in 2022 — Sector’s Share of the Continent’s Total Funding Drops
African Fintech Startups Raised $1.45 Billion in 2022 — Sector"s Share of the Continent"s Total Funding Drops Despite seeing their share of Africa’s startup funding drop fr
Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships
Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the fina
Arijit Sarkar14 hours agoRobert Kiyosaki recommends Bitcoin, gold, silver investments ‘before it’s too late’The average person who tries to save money is a “loser,” said Kiyosaki while recommending investments
Tom Blackstone11 hours agoLedger announces U.S. PayPal integration, lets users buy crypto from within appThrough the new integration, verified PayPal users in the United States will be able to buy BTC, ETH, BCH, and LTC