1 Inch Network, a decentralized finance aggregator, plans to expand within the Asian market. Sergej Kunz, the co-founder, said the DeFi market in Korea and Asia is relatively small, but this hasn’t deterred 1 Inch Network from wanting to collaborate with an Asia-based Web3 company. He believes the biggest barrier is the lack of understanding about DeFi and how to use crypto wallets.
Kunz says that as people understand that they can yield farm, they can swap and they can exchange, and get easy access to cryptocurrencies on Ethereum with a few simple EVM-compatible networks, the market will grow a lot. The popularity of blockchain-based gaming in Asia could pull more individuals into the DeFi market. Kunz pointed out that there are a lot of people who like gaming, and the DeFi market in South Korea could ride high on this.
1 Inch Network is keen to expand into the Asian market, and as such is working on a partnership with metaverse-focused blockchain Klaytn. The company’s main use case is a decentralized exchange aggregator which scans DEX’s to find pools with the largest liquidity, lowest slippage, and cheapest cryptocurrency exchange rates. It provides users with a mobile wallet that can be used for DeFi purposes. Moreover, transactions on the network are powered by the 1INCH token.