Fessburn

Web3 Defi Design

Description :

Euler is a non-custodial DeFi protocol on Ethereum that allows users to lend and borrow almost any crypto asset.

Client :

Founded in 2020, Euler is a noncustodial protocol comprised of a set of smart contracts based on the Ethereum blockchain. Its platform allows users to lend and borrow most cryptocurrencies via risk-based asset tiers. With the aim of “democratizing the assets people can lend and borrow,” the platform attempts to shield users from sudden decreases in an asset’s price, as well as subsequent liquidations that fail to adequately repay a borrower’s debt. This makes it a very useful tool for DeFi users across all levels and experience.

Category :

Web3

Share :

For the Euler Platform. I used the Design thinking approach, deliberately seeking the user’s direct opinion on the platform as a whole and on specific aspects of the platform. I did this by creating micro interactions using prototyped wireframes to simulate the function of a fully fledged system. This of course came after collecting quantitative and qualitative data from the user via surveys and one-on-one interviews.

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The current User flow of the platform is didfficult to understand for new users and leads to poor experience and customer drop off from the platform.

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Gaaga Process Img 3

To conduct the user research, I used a two-pronged approach. My strategy was to collect both Quantitative and Qualitative feedback from users. I selected Quantitative feedback so that I can be able to collect as much feedback as possible from a wide range of users with diverse experience using DeFi Protocol.

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To simplify the user experience for both retailers and venture capitalists. This requires comprehensive user research and testing as well as redesign of the platform based on feedback from research and competitive audits.

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Prototype Play

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Working on the defi app was a very interesting challenge and revealed an insight into the mind of the average DEGEN. As most members in the space were purely opportunistic driven, it was a bit difficult to get accurate data in the initial stages. As I transitioned from the quantitative to the qualitative research, the data began to firm up and I started noticing repeatable patterns in the results of the interviews I held. And from this, I was able to arrive at two main conclusions: • Most users in the (retail) space are not interested in the complex jargon that accompanies sophisticated DeFi protocol, They want to know what to do to earn from the platform and would do so if appropriately guided. The Ul and UX need to be in sync for the most seamless experience possible for this to happen. • Feedback is essential. Users need to receive feedback from the platform as they interact with it to ensure a good experience, It reduces the margin of error and helps to build the confidence of the user especially if they are using the platform for the first time.
Lessons Learned
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