A Beginner-First
DeFi Experience
Web3 investing historically suffered from a high barrier to entry, with user interviews revealing significant friction throughout the onboarding and investment journey. By identifying key pain points in the existing flow, we redesigned the experience into a simplified three-step investment process.
The redesign drove a 100%+ increase in user conversion rates and contributed significantly to the platform reaching nearly $1B in Total Value Locked (TVL) across investment assets.
01 · Research
Identifying
friction points
Conducted interviews with eight novice users to understand their experience with the existing investment flow, uncovering three key friction points.
01
Users found the "Earn on Your Own" entry point unengaging, citing limited motivation to proceed.
02
Users were unsure which protocols to select for investment, indicating a lack of clarity and guidance during the decision-making process.
03
The journey was step-heavy, requiring users to complete seven separate steps before successfully making an investment.
01
Users found the "Earn on Your Own" entry point unengaging, citing limited motivation to proceed.
02
Users were unsure which protocols to select for investment, indicating a lack of clarity and guidance during the decision-making process.
03
The journey was step-heavy, requiring users to complete seven separate steps before successfully making an investment.
Simplify protocol selection, highlight earning recommendations, and reduce friction in the investment journey.
Testing beginner-first design concepts
01
Option 1 is a three step investment process, where the protocol has already been selected for the users based on the total value locked of assets and its security score.
02
Option 2 presents users with a list of available protocols to choose from, while placing greater visual emphasis on the protocols we recommend.
Crafting
our studies
01
Scenario
Participants were told that DeFi Earn allows users to earn rewards by putting idle tokens to work. They were then asked to open the OKX Wallet and explore the Earn section for the first time, with the tasks of identifying a relevant investment opportunity and depositing tokens to begin earning rewards.
02
Participants
We recruited 10 participants with little to no Web3 knowledge and minimal or no token holdings.
03
Metrics
1. Misclick 2. Completion rate 3. Ave time spent 4. Preference test
A definitive
standout
We recruited 10 participants to evaluate both concepts. Option 1 emerged as the preferred solution, with most participants stating that they appreciated not having to decide which protocol to select, making the investment process feel simpler and more approachable.
Option 1
90%
Completion
32%
Misclick
55s
avg time spent
80%
Preferred option
Option 2
70%
Completion
55%
Misclick
105s
avg time spent
20%
Preferred option
Data-driven
iterations
User testing revealed two key usability issues. First, users struggled to understand the concept of DeFi protocols. Second, many didn't realise they could view the APY history chart by tapping the info icon. The interaction was also confusing, as the touch target of the info icon overlapped with the clickable list item.
Before
After
03 · Solution
Our proposed
solution
01
Highlight key information, including available assets, to create stronger incentives for users to continue.
02
Simplify protocol selection by pre-selecting a trusted option based on TVL and security, reducing user uncertainty.
03
Simplify the process by reducing the number of steps from seven to three.
Moving
forward
01
Beyond treating this as an isolated flow, I'd like to step back and consider the broader ecosystem, including the CeDeFi binding flow, which plays a high-impact role in onboarding users into Web3.
02
Beyond the investment flow, I'd also like to take a closer look at the redemption flow, which is a critical part of the user's investment journey.
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Send. Pay. Receive. Effortlessly.
Where AI Gets Things Done.
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Where AI Gets Things Done.