Version 2 of xSigma DEX, a DeFi project by xSigma Labs (subsidiary of Nasdaq: ZKIN) will soon launch on BSC first and later on ETH. xSigma is a stablecoin and liquidity mining platform that’s paid $30m worth of rewards to its liquidity providers (LPs) to date.
The new update will make xSigma available on Binance Smart Chain (BSC), alongside Ethereum. BSC is a fast growing blockchain ecosystem with over $22 billion in total value locked today. Its transaction fees are significantly lower than Ethereum’s, which have helped spur its massive trade volumes.
The protocol upgrades provided by xSigma version 2 include:
— Gas cashback: Cashback logic will be stored in a separate contract, allowing for a more flexible fund distribution system compared to version 1’s suspended program
— Fee Exchange for SIG on Dutch Auction: A small number of stablecoins are held as a fee with each swap. The fees are later collected into an auction contract, in which users can purchase them for SIG. The SIG are burned later.
— MasterChef parameters tweak: Fixed the SIG minting formula.
— Cross-chain sync: With SIG tokens mint speeds synced across BSC and Ethereum, cross-chain SIG tokens are now supported.
— Pools in Binance Smart Chain: 20% of SIG minted will be allocated to LPs in the stablecoin pool on BSC.
To become a liquidity provider for xSigma, you’ll need either an Ethereum web3 compatible wallet such as Metamask (alongside some Ether to pay gas fees) or a BSC wallet with some BNB holdings. Then you’ll need the stablecoins you wish to pool, such as USDT, USDC, DAI or BUSD for BSC.
After depositing your stablecoins at the xSigma Liquidity page, you will receive SIG-LP tokens representing your share of the pool. You will be rewarded with SIG tokens by staking your SIG-LP pool share tokens.
Do not miss your opportunity to become one of xSigma’s LPs! Follow our social media for the updates about the upcoming launch.
About xSigma DEX
xSigma DEX is a stablecoin DEX optimized for user experience, which other popular DeFi platforms fail to deliver. It allows for user-friendly stablecoin swapping, farming, governance, and account management. It’s paid nearly $30m worth of rewards to its liquidity providers, and processed over $1 billion in trading volume with 0 security issues. It’s native governance SIG token has been listed on Bittrex exchange.
xSigma DeFi is built by ZK International, a trusted and visible publicly traded company, setting it apart from non-transparent and anonymously created Defi platforms. The team includes developers from top-tier software companies including Amazon, Facebook and Ripple.