Early in 2020, Shayne Coplan, the founder of Polymarket, contacted us because he had a revolutionary idea. He wanted to create the first prediction market that would attract a massive user base. In a short amount of time, our team managed to help him come up with a design that would solve his requirements and went on to become the foundation of Polymarket v1.
Goal
Our mission was to understand how users are currently interacting with prediction markets and come up with a design that would solve their needs and differentiate itself from what was out there at the time.
Challenge
The main challenge was simplifying the requirements of a prediction market and make it easily digestible for everyone. At the time there were a couple other prediction markets which were slowly gaining popularity, but none of them offered the simplicity needed for massive user adoption. We knew that the solution had to be very easy for people to understand.
Solution
After a couple of calls with Shayne, we started researching current solutions, trying to understand the needs and potential features that would position ourselves differently than the competition. The output of the sprint was a simple UX design flow showcasing some of the most important parts of Polymarket.
Important design choices that were made:
We clearly stated users' position on the market page alongside average price, current price, and position value.
Added tooltips throughout the product to explain difficult terms to non-crypto users.
Created a feature that would add/remove liquidity for a market.
After working together, the Polymarket team managed to:
Secure a $4M Series A round of financing.
Increased platform usage.
Delighted users through a simple UX.
