{"id":32858,"date":"2022-08-08T04:18:37","date_gmt":"2022-08-08T08:18:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=32858"},"modified":"2022-08-08T04:18:40","modified_gmt":"2022-08-08T08:18:40","slug":"koreas-defi-market-offers-room-for-expansion-1inch-co-founder","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/koreas-defi-market-offers-room-for-expansion-1inch-co-founder\/","title":{"rendered":"Korea’s DeFi market offers room for expansion: 1inch co-founder"},"content":{"rendered":"\n
1inch wants to enter the largely new Asian market, but widespread DeFi adoption is being hindered by a lack of understanding.<\/h5>\n\n\n\n
\"Korea's
Korea's DeFi market offers room for expansion: 1inch co-founder<\/figcaption><\/figure>\n\n\n\n

Oneinch Network, a decentralized-finance (DeFi) aggregator, has disclosed plans to broaden its presence in Asia.<\/p>\n\n\n\n

On August 8, co-founder Sergej Kunz stated that 1inch is hoping to cooperate with several Asia-based Web3 firms despite the relatively tiny DeFi market in Korea<\/a> and Asia. This was said during Korean Blockchain Week (KBW) 2022.<\/p>\n\n\n\n

The main entry-level obstacle, according to Kunz's additional comment, appears to be a lack of knowledge of Decentralized Finance and how to use cryptocurrency wallets:<\/p>\n\n\n\n

\u201cAs soon as people understand that they can [yield] farm, they can swap, they can exchange and get easy access to cryptocurrencies on Ethereum with a few simple EVM-compatible networks, the market will grow a lot.\u201d<\/p><\/blockquote>\n\n\n\n

Kunz further said that more people might enter the DeFi sector\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> as a result of the popularity of blockchain-based games in Asia.<\/p>\n\n\n\n

\u201cHere, there are a lot of people who like gaming <\/a>and a lot of things like that, so I think the DeFi market can grow a lot in South Korea.\u201d<\/p><\/blockquote>\n\n\n\n

1inch intends to grow in the Asian market, and they are now negotiating cooperation with the blockchain Klaytn, which focuses on the metaverse.<\/p>\n\n\n\n

The primary use case for the 1inch Network is a decentralized exchange (DEX) aggregator that searches DEXs to identify pools with the highest liquidity, the least amount of slippage, and the lowest exchange rates for cryptocurrencies. Additionally, 1inch offers consumers a mobile wallet that may be used for DeFi.<\/a><\/p>\n\n\n\n

The 1INCH token, valued at $0.83 as of this writing, powers network transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"

1inch wants to enter the largely new Asian market, but widespread DeFi adoption is being hindered by a lack of understanding. Oneinch Network, a decentralized-finance (DeFi) aggregator, has disclosed plans to broaden its presence in Asia. On August 8, co-founder Sergej Kunz stated that 1inch is hoping to cooperate with several Asia-based Web3 firms despite […]<\/p>\n","protected":false},"author":38,"featured_media":32867,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-32858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/article_what-is-defi.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=32858"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32858\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/32867"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=32858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=32858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=32858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}