ZK International Group Co, Ltd. (NASDAQ: ZKIN) revealed that its unit xSigma Corporation has successfully passed the inspection of Hacken. Hacken has assessed the smart contract of its DeFi protocol. xSigma Corporation has scored well in the audit and Hacken has found no evidence of high gravity problems.
The firm has disclosed that the unveiling of DeFi Protocol of xSigma is anticipated to take place on the 24th of February 2021. The firm has not yet revealed the exact time and will soon inform the customers through its websites and social media accounts.
Shares of ZK International Group Co, Ltd. (NASDAQ: ZKIN) rocketed 16.99% during the trading session of Thursday. In the past 52-weeks of trading, this firm's share grew from a low point around $0.65 to quickly over $6.99. Its shares went up 1076.65% and 9.59% from its 52-week low and its 52-week high, respectively.
xSigma is intending to execute more analysis of DeFi Protocol with other auditors in the Q2 of 2021. The corporation is planning for the best-in-class protocol and maintains the security of the protocol for the community. xSigma’s protocol has fulfilled all the requirements of Hacken which is a prominent European security firm expert in blockchain. The customers of Hacken include some of the biggest blockchain firms such as Bithumb, 1Inch, gate.io, FTX, VeChain, and many more.
"Today the security issue has intensified in a decentralized app environment and we wanted to reduce risks by completing the audit, to check the safety of the DeFi Protocol before the platform goes live, said Mr. Jiancong Huang, CEO of ZK International. “We are pleased to end the protocol's first inspection and intend to continue to have a stable protocol by performing the second inspection in the next few months,“ CEO added.