Korea Blockchain Week brought the digital asset industry to Seoul, one of the most active markets in the world for crypto and blockchain adoption. DWF Labs was on the ground hosting, speaking and connecting. This recap covers where our team showed up, and what we heard.
For our full market insights from the week, read our conference notes here (opens in a new tab).
DWF Labs Haus
On September 28 2026, we hosted the Seoul edition of DWF Labs Haus, co-hosted with Falcon Finance (opens in a new tab). Seoul’s density of active market participation meant a great number of current partners and future partners were already in one place. Those conversations feed the partnerships, deals, and research that take shape in the weeks that follow.
Haus also marked the first anniversary of Falcon Finance (opens in a new tab), the pioneering universal collateralization infrastructure behind on-chain liquidity and yield. As Falcon’s incubator, we were glad to celebrate this milestone alongside the partners and community members who have backed the project throughout its first year.
Cointelegraph Connect
At Cointelegraph Connect in Seoul (September 29), Andrei Grachev, Managing Partner, spoke about on-chain markets in Asia.
Perp DEXs. Andrei said the number of perp DEXs has grown far faster than the demand to support them. Only platforms that reach escape velocity early will keep growing. The rest will stay flat.
Decentralization. For most users, he said, decentralization is not the deciding factor when choosing a trading venue. Even venues described as decentralized often keep centralized components. Users care about self-custody, control of their own keys, and privacy.
DEXs and CEXs. Andrei noted the gap is narrowing. DEXs once shipped faster than their centralized counterparts, but CEXs now move quickly, with equities the clearest example.
Crypto and AI. He described agentic trading terminals as still early. If everyone runs the same tools, he asked, where does the edge come from? His answer: not from models built specifically for trading.
Market conditions. This cycle has lower volatility than previous ones, Andrei said, and 24/7 trading removes time zones as a barrier to participation. In Asia, he said, the fastest path to regional users is through a local partner, not a solo launch.
Kicking Off Conference Season
Korea Blockchain Week set the tone for the autumn conference season, as several themes emerged as topics throughout KBW:
The number of venues of perp DEXs has grown, but trading volume is concentrated within a small group of platforms. Those that reached higher liquidity early on gathered the most users, which increased volumes and resulted in a further lead in user acquisition. Early builders are typically the platforms that win, with perp DEX venues proving a timely and relevant example.
Another topic was the gap between how the industry talks about decentralization and what users actually prioritize. Traders value two practical aspects - self-custody and privacy - over decentralization as a label. Platforms that deliver legitimate protections for traders are more likely to see increased adoption.
The third recurring topic was marketing to crypto communities in Asia. The key lesson: Asia isn’t a single market, and teams that focus on local and regional users see better growth and adoption. Understanding local users, regulations, and requirements matters more than broad campaigns aimed at a general audience.