Ultim Studio partnered with Nexus Mutual in order to help them understand their user pain points and redesign their dapp. During four different design sprints, we listened to every need the team had, delivered a full redesign of every user experience, and designed a strong UI base for upcoming features.
Goal
Nexus Mutual is a decentralized insurance platform built on Ethereum. Users are able to buy insurance on DeFi products while stakers are rewarded for supplying capital to support those insurance covers. Our mission was to understand how Nexus Mutual users are currently interacting with the platform and come up with a design prototype for every key feature of the product. We broke this up in 4 different design sprints starting with Cover Buying, Membership Application, Staking, Pool Managing and finishing with Governance and Claims.
Challenge
The main challenge was translating this blockchain-powered model into something that any user could easily grasp. The solution had to be something easy to understand for all user types: cover buyers, stakers, and pool managers.
Solution
During the 4 design sprints, we gathered valuable feedback from the team, the users of the platform, and also other potential new users. Based on this, we designed a fully functional prototype for every part of the dapp that was later tested out with current and new users of the platform.
Among many things, our team discovered that:
The most important thing for retail users was seeing the yearly cost of the cover, based on the cover period and the amount, something the current design was not focused on.
From the current interface, it’s not easy for stakers to understand what the bonus for staking long term is.
Before purchasing a cover, new users felt unsure if they should KYC or not because they didn’t know how long this would take.
We solved these by:
Highlighting the cover amount and cover period on the buy cover page in order to address the needs of retail users, at the same time we made sure to address the needs of individual users by including detailed tooltips on each part of the flow.
Making it clear what the current bonus is for long-term staking through the staking modal.
Showing all the steps of the KYC process and how long each takes before the user initiates it.
Results
The team managed to 2x’d their TVL to $373M after the design was implemented
Offered them a better understanding on how users were interacting with the dapp
Strong UX
Refreshed UI
Increased revenue from platform usage
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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