DeFcor Finance Re-staking Product
Overview
DeFcor Finance is a innovative platform in the decentralized finance (DeFi) space, offering advanced solutions for cryptocurrency holders. As a Product Designer with 4 years of experience in fintech and B2B data, I led the design of DeFcor's latest product: a Re-staking feature for Liquid Staking Token (LST) holders. This project aimed to provide users with a way to maximize their yields while maintaining the benefits of liquidity.
Problem statement
As the DeFi ecosystem evolves, LST holders face a common challenge: how to maximize the potential of their staked assets beyond basic staking rewards. Our research identified several key user needs:
Increase overall yield beyond standard staking rewards
Enhance the security of staked assets
Maintain the liquidity benefits of LSTs
Diversify staking strategies to optimize risk and reward
Participate more actively in the broader Ethereum ecosystem
Simplify the management of multiple types of LSTs
Access advanced staking strategies without deep technical knowledge
Users needed a solution that would allow them to easily re-stake their LSTs, offering higher rewards and increased security while preserving liquidity. The challenge was to design a user interface that made this complex process accessible and intuitive.
User Research and Insights
Our target audience consisted of LST holders, ranging from DeFi enthusiasts to more traditional investors looking to maximize their crypto assets. Key insights from our research included:
Users were overwhelmed by the complexity of existing re-staking solutions
There was a strong desire for transparency in risk and reward potential
Users wanted flexibility in choosing strategies and tokens
The ability to easily monitor and manage re-staked assets was crucial
Design Goals
Based on our research, we established the following design goals:
Simplify the re-staking process for users of all experience levels
Provide clear information on strategies, risks, and potential rewards
Offer flexibility in token selection and re-staking options
Create a seamless experience from wallet connection to reward claiming
Design an intuitive interface for monitoring and managing re-staked assets
Design process
Information architecture
We structured the application flow to guide users logically through the process:
Wireframing & Early prototype
[Content to be added]
UI Design and Design System
The final design, as seen in the provided screenshots, features
A clean, intuitive dashboard
Clear presentation of re-staking options and token selection
Explore Strategy page offering key data points at a glance
Detailed strategy information for informed decision-making
Transaction History feature providing a comprehensive overview of past activities
Key Features
Wallet Connection: One-click process to connect and view balances
Clear LST Display: Users can easily see available tokens and amounts
Strategy Selection: Detailed information on each strategy, including APY and risk scores
Flexible Re-staking Options: Users can choose tokens and amounts freely
Reward Tracking: Clear display of earned rewards and claiming options
Withdrawal Functionality: Easy process to unstake and withdraw tokens
Design Decisions
Consistent Navigation: A sidebar menu ensures users can easily move between different sections of the platform.
Color Scheme: Color Scheme: Our design incorporates both light and dark themes, complemented by purple accents. This combination creates a professional aesthetic while offering users the flexibility to customize their experience.
Information Hierarchy: Critical information like APY and risk scores are prominently displayed to aid decision-making.
Progressive Disclosure: Complex information is revealed gradually to avoid overwhelming users.
Lessons Learned and Future Improvements
Through this project, we gained valuable insights into designing for complex DeFi processes. Future improvements could include:
Implementing more advanced analytics for users to track their re-staking performance
Integrating crucial data points to help users understand different strategies.
Exploring options for automated re-staking based on user-defined parameters.
This project showcases how thoughtful UX design can make complex financial products accessible to a broader audience, potentially increasing participation in the DeFi ecosystem.