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xSigma DEX launch: More than $100M in liquidity pooled on first day

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Source: xSigma

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

Close to $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.

About $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 CMC and CoinGecko. xSigma recently integrated into 1inch.exchange, the leading DEX aggregator.

About XSigma

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.

Disclaimer: This aricle is a paid post and must not be considered as news/advice.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.

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