1 inch plugs into Klaytn as Asia continues to climb on board
The 1inch network has integrated its aggregation and limit order protocols into the burgeoning Klaytn blockchain mainnet.
New
Klaytn, South Korea's most popular metaverse blockchain, is set to benefit from greater liquidity and improved token exchanges thanks to a new partnership with decentralized finance (DeFi) protocol 1inch Network.
Klaytn has seen success in South Korea as the country continues to see prolific use of non-fungible tokens (NFTs) and GameFi. Klaytn is a product of tech giant Kakao, which controls a user base of approximately 52 million people who use its flagship KakaoTalk app and suite of software products.
Klaytn derived its proprietary blockchain technology from the Ethereum virtual machine and powers various play-to-earn and AAA games, NFT marketplaces, and metaverses. As its user base continues to grow, the platform seeks to improve its scalability, efficiency, and affordability.
Klaytn already has more than 50 enterprise-level decentralized finance (DeFi) and decentralized exchange (DEX) service providers, and the addition of 1 inch unlocks 257 additional sources of liquidity. Klaytn's boasts the ability to process 4,000 transactions per second and is in the process of implementing a dynamic gas fee mechanism. This is in response to previous exploits of its low fixed gas prices.
Ongoing integration of layer 2 service chains should improve token management and oracle services on the metaverse blockchain. Klaytn reported $2.5 billion in total value locked on its protocol in March 2022 and the ongoing merger of various DeFi platforms is creating further interoperability between different protocols.
Related: DeFi Market Has Room for Growth in Korea: 1inch Co-Founder - KBW 2022
1inch's integration with Klaytn allows both user bases access to the 1inch v2 Limited Command Protocol, KokonutSwap, KlaySwap, Klap and ClaimSwap.
Klaytn has connected to the wider NFT ecosystem through a
The 1inch network has integrated its aggregation and limit order protocols into the burgeoning Klaytn blockchain mainnet.
New
Klaytn, South Korea's most popular metaverse blockchain, is set to benefit from greater liquidity and improved token exchanges thanks to a new partnership with decentralized finance (DeFi) protocol 1inch Network.
Klaytn has seen success in South Korea as the country continues to see prolific use of non-fungible tokens (NFTs) and GameFi. Klaytn is a product of tech giant Kakao, which controls a user base of approximately 52 million people who use its flagship KakaoTalk app and suite of software products.
Klaytn derived its proprietary blockchain technology from the Ethereum virtual machine and powers various play-to-earn and AAA games, NFT marketplaces, and metaverses. As its user base continues to grow, the platform seeks to improve its scalability, efficiency, and affordability.
Klaytn already has more than 50 enterprise-level decentralized finance (DeFi) and decentralized exchange (DEX) service providers, and the addition of 1 inch unlocks 257 additional sources of liquidity. Klaytn's boasts the ability to process 4,000 transactions per second and is in the process of implementing a dynamic gas fee mechanism. This is in response to previous exploits of its low fixed gas prices.
Ongoing integration of layer 2 service chains should improve token management and oracle services on the metaverse blockchain. Klaytn reported $2.5 billion in total value locked on its protocol in March 2022 and the ongoing merger of various DeFi platforms is creating further interoperability between different protocols.
Related: DeFi Market Has Room for Growth in Korea: 1inch Co-Founder - KBW 2022
1inch's integration with Klaytn allows both user bases access to the 1inch v2 Limited Command Protocol, KokonutSwap, KlaySwap, Klap and ClaimSwap.
Klaytn has connected to the wider NFT ecosystem through a
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