FINANCE
To the moon!
ABOUT PRODUCT
Meet RFX, the revolutionary crypto trading platform that's changing the game. Cryptocurrency trading can be daunting for newcomers and experienced traders alike. The market moves fast, and keeping up with the latest trends and prices can be overwhelming. RFX aims to simplify the trading process and provide users with a seamless experience.
100M+
Trading Volume
100k+
Alpha Users
DURATION
Jul 2023 - Sep 2023
MY ROLE
Responsible for UI design, discovery & ideation,
user research, interaction design and prototype
TEAM
Nik, Head of product design
Aakash (Me), Product Designer
Anish, Creative Lead
Sartaj, 3D Generalist
Rama, Motion Graphics
VIEW PRODUCT
PROBLEM STATEMENT
One common pain point for crypto traders is the lack of options for creating investment pools. Existing platforms often have complicated processes or limited features, making it difficult for users to create and manage pools effectively.
SOLUTION
Create a user-friendly platform that allows crypto traders to easily and securely create and manage investment pools, while offering a high degree of customization and automation.
SECONDARY RESEARCH
To learn more about user behavior, I conducted secondary research specific products with high traffics. The issues that surfaced were mostly that User gets easily frustrated due to complicated processes , Secondly it becomes tougher to capitalize on market trends and lastly it definitely impacts the market share of that particular brand.
PRIMARY RESEARCH
To understand the needs of crypto traders, we conducted in-depth interviews with 25 active crypto traders and sent out surveys to a broader audience of 200 traders. Our key findings were:
Complexity of Existing Platforms: 80% of respondents mentioned that they found the process of creating and managing investment pools on existing platforms too complicated.
Limited Customization: 65% expressed dissatisfaction with the lack of customizable options, such as setting different entry points for participants or the ability to automate rebalancing.
Security Concerns: 70% of users were concerned about the security of their investments in these pools, with many feeling that existing platforms did not provide sufficient transparency or safeguards.
User Experience Issues: 60% found the user interfaces of current platforms cluttered and non-intuitive, leading to frustration during the pool creation process.
CREATING PERSONAS
Based on the interviews/user research, I created personas. Each persona is a category for our target audience, it highlights their needs, concerns, and personality traits. I often referred to them throughout the entire product development process to make sure I prioritise the users in my design decisions.
Since the target audience is focused on very specific niche of people, hence we will be building limited set of personas. Mainly to categorise people in different 'creative' brackets ranging from a crypto novice to a crypto expert.
CREATING Lo-FI WIREFRAMES
We started with Lo-fidelity wireframes to quickly iterate on the layout and structure of the platform. Key features included:
Simplified Onboarding: A step-by-step guide with visual aids to help users get started quickly.
Risk Indicator : As you select exotic pairs, we indicate before hand if there are high chances of losing money.
Customizable Dashboards: A dashboard where users could add or remove widgets to track the metrics that mattered most to them.
Security Enhancements: Integration of multi-factor authentication and transparent reporting of security measures.
TAKING USER FEEDBACK ON WIREFRAMES
We conducted usability testing with 15 crypto traders who represented our target personas. The testing revealed:
Increased Efficiency: 90% of users were able to create an investment pool in under 5 minutes, compared to the 12 minutes it typically took on other platforms.
Improved Satisfaction: Users rated their experience at 4.7 out of 5, with many praising the simplicity and intuitive design.
Security Reassurance: 85% of users felt more confident about the security of their investments on RFX compared to other platforms.
CHECKING OUR CONTRACTS SECURITY
We wanted to make sure that our contracts are secure and there is no major vulnerability in them, so we got them checked with one of the most trusted organization for security audits in web3.
Halborn assigned two full-time security engineers to review the security of the smart contracts. The engineers were blockchain and smart contract security experts with advanced penetration testing and smart contract hacking skills, and deep knowledge of multiple blockchain protocols.
The purpose of the assessment is to:
Identify potential security issues within the smart contracts.
Ensure that smart contract functionality operates as intended.
Following were the Findings from the security audit.
Critical Issues
High Level Issues
Medium Level Issues
Low Level Issues
We handed over this findings to our internal back-end team and got all these issues fixed in time, making our platform secure.
#5 FINAL DESIGNS
The final design of RFX focused on three core pillars:
User-Centric Design: Simplified processes with clear instructions and an intuitive interface that catered to both novices and experts.
Customization & Automation: Flexible options for creating and managing investment pools, allowing users to tailor their strategies and automate routine tasks.
Security & Transparency: Robust security features and transparent reporting to build user trust and confidence.
As soon as a person lands on the pools page they see a bunch of existing pools along with an option to create a new pool.
The user sees option to select the token pairs he wants to make a pool of. Other platforms try to flood information on this page which leds to high cognitive load in the first step itself.
Analysis of the selected pair takes place and a proper risk rating is assigned which enables user to make a conscious decision of whether to make a new pool for the selected pair or not.
The analysis is rated into three categories- High/Medium/Low. Based on the risk rating we tell the user whether RFX can help provide liquidity from existing pool or the user would have to individually provide liquidity.
Once you are fine with the analysis, then just give a custom name and provide liquidity to your pool.
Confirm your pool info and you are all set!
Adding trending memes here to lighten up the mood a bit. Helps in making the platform more user friendly.
All your orders and position for that pool are shown as a drill down. Making it easier for users to see all the necessary details in one go.
WALKTHROUGH VIDEO
Ending note
Thank you for reading it till the end. This was just one of the many problems that I solved. There might be a more optimized solution other than the ones that I highlighted here. I am open to feedbacks, if you have a better solution.
Our app can be seen live on https://app.rfx.exchange/
Intrigued by my approach to product design? Let’s start a conversation!