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1/24
3 pain points DeFi UX should take care.
Disclaimer: Suggested solutions must not be taken as fully practicable, any dApp should invest time in user research and usability tests to validate assumptions.
3 pain points DeFi UX should take care.
Disclaimer: Suggested solutions must not be taken as fully practicable, any dApp should invest time in user research and usability tests to validate assumptions.
1/24
In 2020 we have seen DeFi usage explode…
So much so, that app developers seem to have forgotten that dApps are fundamentally different from traditional web apps and require a steep learning curve from normal users
Here are 3 main pain points noticed in most dApps:
In 2020 we have seen DeFi usage explode…
So much so, that app developers seem to have forgotten that dApps are fundamentally different from traditional web apps and require a steep learning curve from normal users
Here are 3 main pain points noticed in most dApps:
2/24
Wallet delays in balance updating
Accepting mainstream users means DeFi can no longer hide behind excuses like:
- DeFi is for power users only
- Code is law
- Users must deal with inefficiencies in name of decentralisation
Wallet delays in balance updatingAccepting mainstream users means DeFi can no longer hide behind excuses like:
- DeFi is for power users only
- Code is law
- Users must deal with inefficiencies in name of decentralisation
3/24
Mainstream users are used to smooth experiences, fast loadings, help chats, ability to recover from any issue thanks to centralised systems and mostly they aren’t nerds and won’t spend their time checking wiki guides and solving problems themselves.
Mainstream users are used to smooth experiences, fast loadings, help chats, ability to recover from any issue thanks to centralised systems and mostly they aren’t nerds and won’t spend their time checking wiki guides and solving problems themselves.
4/24
The problem stems from the fact that user funds are dispersed in a variety of smart contracts (lending, liquidity pools etc.)
dApps need to query the Blockchain to show users their balances but this takes more time than querying a centralized database
The problem stems from the fact that user funds are dispersed in a variety of smart contracts (lending, liquidity pools etc.)
dApps need to query the Blockchain to show users their balances but this takes more time than querying a centralized database
5/24
For newcomers, these delays are hard to understand and quite scary
Imagine going into your portfolio tracking app and seeing your displayed balance dropping from $20k to $5k because of a loading error.
Possible solutions: http://gph.is/2oaSVQw
For newcomers, these delays are hard to understand and quite scary
Imagine going into your portfolio tracking app and seeing your displayed balance dropping from $20k to $5k because of a loading error.
Possible solutions: http://gph.is/2oaSVQw
6/24
- Speed: @graphprotocol and @covalent are working hard to make UI’s load data faster
- Pay attention to UI: inform about slowdowns, which protocol isn't communicating, provide time estimation for updated balance. User needs buffer before worrying. https://ibb.co/ZBQKJ5s
- Speed: @graphprotocol and @covalent are working hard to make UI’s load data faster
- Pay attention to UI: inform about slowdowns, which protocol isn't communicating, provide time estimation for updated balance. User needs buffer before worrying. https://ibb.co/ZBQKJ5s
7/27
- Notifications: @epnsproject aims to provide decentralised notifications.
Receiving a notification when a loan nears liquidation or a hack has happened will increase user confidence in dapps https://bit.ly/3aPm5gT
- Notifications: @epnsproject aims to provide decentralised notifications.
Receiving a notification when a loan nears liquidation or a hack has happened will increase user confidence in dapps https://bit.ly/3aPm5gT
8/27
Longtail token search
DEXs are powerful. They allow the permissionless trading & listing of 1000’s of tokens
However, not all tokens are supported in the search bar by default. https://gph.is/g/4ARmR6G
Longtail token searchDEXs are powerful. They allow the permissionless trading & listing of 1000’s of tokens
However, not all tokens are supported in the search bar by default. https://gph.is/g/4ARmR6G
9/27
Doing so would be impossible as new tokens appear on a daily basis.
Moreover, some tokens are outright scams and listing them on a dApp UI could look like an endorsement for newcomers!
Doing so would be impossible as new tokens appear on a daily basis.
Moreover, some tokens are outright scams and listing them on a dApp UI could look like an endorsement for newcomers!
10/27
Uniswap, tries to solve this issue with a token lists.
Any entity can create a token list which it curates. Famous token lists are from @coingecko @defiprime etc.
Users can decide which entity they trust with keeping the list up to date http://shorturl.at/brBEU
Uniswap, tries to solve this issue with a token lists.
Any entity can create a token list which it curates. Famous token lists are from @coingecko @defiprime etc.
Users can decide which entity they trust with keeping the list up to date http://shorturl.at/brBEU
11/27
Experienced users know this issue is avoidable by looking up the token contract address and pasting it into the DEX UI but who wants to deal with this?
Afterall, we want DeFi to reach the mainstream!!
Experienced users know this issue is avoidable by looking up the token contract address and pasting it into the DEX UI but who wants to deal with this?
Afterall, we want DeFi to reach the mainstream!!
12/27
Wallets like @zerion, @argent or @rainbow take a different approach: they add tokens manually but users can make requests for the teams to add new tokens
User looking for the latest token pool
http://gph.is/1kfWeez
Wallets like @zerion, @argent or @rainbow take a different approach: they add tokens manually but users can make requests for the teams to add new tokens
User looking for the latest token pool
http://gph.is/1kfWeez
13/27
What would be cool is if tokens would have @ensdomains to provide human readable addresses for tokens.
Would be 10x easier to type in xyz.eth instead of a long hexadecimal address. Domains are unique and avoid misuses.
Other possible prevention comes from UX architecture
What would be cool is if tokens would have @ensdomains to provide human readable addresses for tokens.
Would be 10x easier to type in xyz.eth instead of a long hexadecimal address. Domains are unique and avoid misuses.
Other possible prevention comes from UX architecture
14/27
What if DEX provides a top chart for new tokens by last 24h/48h?
Many times highest trading volume are recorded first days from launch. Providing featured token list, means more trust, volume and liquidity are good KPIs to bring out new tokens. https://ibb.co/VTR8QQH
What if DEX provides a top chart for new tokens by last 24h/48h?
Many times highest trading volume are recorded first days from launch. Providing featured token list, means more trust, volume and liquidity are good KPIs to bring out new tokens. https://ibb.co/VTR8QQH
15/27
Other suggestions come from Web2. Think about Netflixation of DEX UX.
What if, once a wallet is connected, dapp reads from users balance and generates tailored content based on wallet activity: recommended pools, favorite tokens, farming etc. https://ibb.co/fkKxScr
Other suggestions come from Web2. Think about Netflixation of DEX UX.
What if, once a wallet is connected, dapp reads from users balance and generates tailored content based on wallet activity: recommended pools, favorite tokens, farming etc. https://ibb.co/fkKxScr
16/27
KYD Know your dApps
One of the most repetitive tasks in DeFi is connecting your wallet to a dApp
the flow usually takes 3 steps:
1) clicking on the ‘connect wallet’ button
2) choosing a wallet from list
3) typing password.
KYD Know your dAppsOne of the most repetitive tasks in DeFi is connecting your wallet to a dApp
the flow usually takes 3 steps:
1) clicking on the ‘connect wallet’ button
2) choosing a wallet from list
3) typing password.
17/27
Most users have no idea what this step entails and what they’re allowing.
The same problem persists for signing transactions.
Most users have no idea what this step entails and what they’re allowing.
The same problem persists for signing transactions.
DeFi user connecting wallet to new protocol http://gph.is/1O2X4gu
http://gph.is/1O2X4gu
18/27
Here, possible improvements.
- UI side: keep the user informed of what the system is doing.
- Work on UX writing with simple messages aimed to keep the user in the loop.
- This is also critical when user is signing transactions, educate user on what is he signing.
Here, possible improvements.
- UI side: keep the user informed of what the system is doing.
- Work on UX writing with simple messages aimed to keep the user in the loop.
- This is also critical when user is signing transactions, educate user on what is he signing.
19/27
- Empower user, choosing what access give to dApp. Imagine a control panel with multiple toggle buttons. This settings must be stored avoiding recursive setup and consistency must be ensured reminding allowed actions due to chosen options. https://ibb.co/HPZj7W5
- Empower user, choosing what access give to dApp. Imagine a control panel with multiple toggle buttons. This settings must be stored avoiding recursive setup and consistency must be ensured reminding allowed actions due to chosen options. https://ibb.co/HPZj7W5
20/27
- Design experiences avoiding wallet connection. This is a growing trend especially for LP monitoring tools. You can avoid wallet connection, pasting your public key allowing you to check funds or liquidity performance without giving any authorization.
- Design experiences avoiding wallet connection. This is a growing trend especially for LP monitoring tools. You can avoid wallet connection, pasting your public key allowing you to check funds or liquidity performance without giving any authorization.
21/27
Final thoughts
Highlighted points could be minor challenges for builders. Being an active DeFi user and UI/UX designer at the same time, I noticed that the entry barriers to DeFi are still too high
You need to be proficient in tech & finance to feel confident using DeFi
Final thoughts
Highlighted points could be minor challenges for builders. Being an active DeFi user and UI/UX designer at the same time, I noticed that the entry barriers to DeFi are still too high
You need to be proficient in tech & finance to feel confident using DeFi
22/27
A quote I like to mention, comes from Steve Krug’s popular book “Don’t make me think”. He affirms that even power users will appreciate a self-explaining UI.
A quote I like to mention, comes from Steve Krug’s popular book “Don’t make me think”. He affirms that even power users will appreciate a self-explaining UI.
23/27
I have to praise many dApps pushing very hard to improve DeFi UX. The ecosystem did enormous steps forward in the last 18 months.
Thanks for your precious time, I’d be very happy to read your feedback and discuss it together.
I have to praise many dApps pushing very hard to improve DeFi UX. The ecosystem did enormous steps forward in the last 18 months.
Thanks for your precious time, I’d be very happy to read your feedback and discuss it together.
