Decentralized Finance (DeFi) Aggregators 1 foot According to its co-founder Sergej Kunz, Network has revealed plans to expand in the Asian market.
Kunz told Cointelegraph at Korea Blockchain Week (KBW) 2022 on Aug. 8 that although the DeFi market is relatively small in South Korea and Asia, 1inch is looking to partner with a number of Web3 companies in Asia.
However, Kunz also added that the biggest barrier to entry appears to be a lack of understanding of DeFi and how to use crypto wallets:
“As long as people understand that they can [yield] Farms, they can exchange, they can exchange and easily access cryptocurrencies on Ethereum through some simple EVM compatible network, the market will grow a lot. “
However, Kunz also added that the popularity of blockchain-based games in Asia could bring more individuals into the DeFi market.
“Here, there are a lot of people who like games and a lot of that stuff, so I think the DeFi market can grow a lot in Korea.”
1Inch’s plans to enter the Asian market come as they told Cointelegraph at KBW that they are currently forming a partnership with Klaytn, a Metaverse-focused blockchain.
This 1 foot The primary use case for the network is a decentralized exchange (DEX) aggregator, which scans DEXs to find pools with the most liquidity, the lowest slippage, and the cheapest cryptocurrency exchange rates. 1Inch also provides users with a mobile wallet that can be used for DeFi purposes.
Transactions on the network are powered by 1INCH tokens at a price of $0.83 at the time of writing.