Ultim Studio partnered with DFX in order to understand more about their users and help them redesign their Ethereum DEX. During the design sprint, our team worked closely with the full DFX team, gathering insights and turning their vision into reality through a fully functional prototype.
Goal
DFX is a decentralized exchange built on Ethereum, designed to facilitate FIAT-backed stablecoins pegged to foreign currencies. Our mission was to understand the current pain points that users were facing and redesign the platform with this in mind.
Challenge
The main challenge was guiding the user through the process of adding liquidity, staking, unstaking, and removing liquidity. We had to come up with an intuitive solution that would facilitate that.
Solution
After getting the assumptions from the DFX team, Ultim Studio performed a one-week research effort that allowed our team to familiarize themselves with the current needs of users. This was followed by a 3-week design sprint that culminated in a fully functional and iterated prototype, ready for development.
Among many things, our team discovered that:
Users didn’t understand when a pool was healthy or not, hence not knowing if they should add liquidity or not.
It wasn’t clear for them how much liquidity they had contributed to a pool.
Adding liquidity and staking was very fragmented and a lot of users were very confused by the process.
We solved these by:
Showing the amount of underlying tokens for each pool and offered a label with a tooltip, indicating if the pool was healthy or not.
Adding the value that the liquidity provider has contributed to the pool, on the specific position.
Offering a step-by-step process that guides the user from adding liquidity, to staking, unstaking, and then removing liquidity.
Results
The DFX TVL increased 5x from $9M to $50M, after the design was live
Offered the team a better understanding on how users were interacting with the dapp
Offered a clean and powerful design that solved users pain points
Increased revenue from platform usage
Delighted users through a strong UI
Gave the team a sense of ownership in the final outcome
Earned users' loyalty by listening and implementing direct feedback
Created a base for expanding the product through a solid design system
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Result driven
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