What is xSigma? xSigma is an Ethereum-based decentralized stablecoin exchange backed by a public company. In this article, you can access answers to questions such as what xSigma is, what it offers, what is SIG coin, what is it for, how to get it. As Kriptokoin.com, we have prepared it for our readers. Let’s examine this DEX together.
What is xSigma?
xSigma is a decentralized stablecoin exchange built on the Ethereum Blockchain. It is also a public company. This decentralized exchange (DEX) allows for secure and simple trading of various stablecoins. Anyone with a crypto wallet can transact between 3 stablecoin projects on xSigma. However, since the project is built on Ethereum, the wallet must be Web3 and ETH compatible.
What does xSigma offer?
Within xSigma, users can trade stablecoins. Currently, the project supports DAI, USDT and USDC stablecoins. In addition, users can also earn rewards by providing liquidity to the decentralized exchange (DEX). Users who deposit DAI, USDT or USDC assets in DEX enjoy the best reward rates. So it is possible to earn token rewards by staking stablecoins.
Seeing the weakness in the stablecoin space in DeFi, xSigma aims to close this gap. The fact that the project is a decentralized application (dApp) built on Ethereum benefits its adoption. In addition, DEX is managed in a completely decentralized way. Users have a say in the management of the platform. Users can vote on decisions such as changing reward rates or listing new stablecoins in the platform’s DAO.
What is SIG coin? What does it do?
SIG coin is the native token of the xSigma platform. This token was created on Ethereum with the ERC-20 smart contract. SIG has many use cases within the xSigma exchange and the DeFi platform. Participation in the DAO is foremost among these. SIG holders participate in the DAO through their tokens and have a say in the management of the platform. This includes voting, bidding and taking advantage of the decisions taken.
However, SIG coin uses it to reward people who stake stablecoins on the platform. Users provide liquidity to the platform by depositing their stablecoins into xSigma. In return, they get SIG coin rewards. They also get a certain share of the gas fees that users pay when they trade on the DEX. On some platforms other than xSigma, SIG coin also provides an advantage. Some of the gas fees paid by SIG holders on these platforms are refunded.
What is xSigma? How to get SIG coin?
There are some platforms where users interested in the xSigma project can own SIG coins. These platforms are PancakeSwap and UniSwap decentralized exchanges. To purchase SIG coins, they must access one of these exchanges, become a member and verify their account. After completing these transactions, a purchase order can be issued for SIG coin by depositing money into the wallet.
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