Yield Farming WebApp V1

Case study

June - 2021

This is a crypto startup that was ready to create a new DeFi (Decentralized Finance) platform from scratch. My role as a first UX / UI designer was to create a cohesive, intuitive, and visually striking interface and lead the end to end process, from research to launch.

Pitch video GOGO coin. Future version of the product.

The challenge

The goals for this initial version of the product focused on developing a yield farming platform with a twist. The founders aimed to make it stand out by offering something unique and innovative. Given the abundance of similar DeFi products, we knew ours had to bring something fresh to the table. For the initial MVP, the team chose to target experienced users of DeFi products.
The crypto world was unfamiliar to me, and I had to learn all the concepts and jargon from level one. Thanks to the team and their involvement, I managed to grasp the basics and proceed with the project.

Research and planning

My initial thought was that given the "innovation" requirement, I could introduce something unprecedented: a new interface for staking crypto that is both user-friendly and functional. To start, I examined interfaces used by competitors and noticed a common pattern among most of them. This led me to consider our users, who are highly experienced with these platforms and thus very familiar with their interfaces. Before proceeding with my idea, I needed to confirm that our users would feel comfortable with a completely new type of interface.

I conducted an initial set of user interviews to gain a better understanding of their needs, pain points, and any potential opportunities beneficial for our project. For these initial interviews, I prepared two low-fidelity prototypes: one demonstrating an innovative interface for staking crypto on the platform and another featuring a more conventional approach. During the sessions, users were asked to perform basic tasks with both prototypes and see the one they feel more comfortable with.

Relevant interviews findings

After the interviews we managed to get to know our users better and get some useful information about their preferences and pain points like the jargon in the industry and the complexity of the blockchain technology. These are some of the most relevant insights:

Advanced users want better tools to keep track of their investments and visualize their possible rewards.

DeFi platforms tend to be very poor on data visualization and they leave all the job of calculating gains and losses to the users.

Features like auto compound are highly appreciated by users but more options like setting up notifications or setting a selling value are missing.

Despite the usability test of the interfaces did not reveal any issues with the users, they stated a preference for the conventional one when asked.

Solutions

Dashboard

Besides insights regarding security or the complexity of blockchain technology, we observed a significant user demand for a comprehensive dashboard displaying relevant information. It's noteworthy that at the time, many DeFi platforms were relatively new and lacked robust data visualization capabilities. To address this need, we leveraged insights from interviews and conducted card sorting sessions with both the team and real users to gain a deeper understanding of the pertinent information and prioritize it effectively.

Innovation

Following the interviews, approximately 90% of users expressed a preference for the conventional interface due to their familiarity with it. It became evident that a prevailing mental model influenced their choice. Consequently, we decided against implementing the innovative interface. Instead, we aimed to innovate by addressing other prevalent UX issues identified in the research, such as the complexity of blockchain technology and the extensive research required by users.

The approach was to provide users with a warm onboarding and inform them of the option to personalize their onboarding experience. In this initial version, we were unable to go deeply into their preferences, but we were able to accommodate a couple of customization options. Based on their preferences the platform would provide relevant advice like tutorials or tooltips during their learning path.

Conclusion

Through in-depth analysis and user feedback, GOGO coin has launched in the decentralized finance space. By offering customizable onboarding experiences, and advanced learning paths, the platform aims to empower every type of user focusing on expert users. GOGO's goal is to redefine the future of decentralized finance and empower users to navigate the complexities of the DeFi landscape with confidence and success.