Ultim Studio partnered with Spectral in order to help imagine a world where borrowing and lending is done based on an on-chain credit score. During the three different design sprints we were heavily focused on understanding requirements from the team, and translating that into an intuitively designed and user tested experience.
Goal
Spectral Finance helps build onchain credit infrastructure. They mainly focus on the Spectral MACRO Score, an onchain credit score associated to each blockchain address, helping lenders assess borrower risk. Our mission was to design a platform that would showcase the power of this technology, allowing users to borrow, lend and use their MACRO score as an NFT on other DeFi platforms.
Challenge
The main challenge was communicating what the MACRO score is and how users can improve it. The solution had to revolve around the score, offering a learn more section where users can inform themselves on how to improve this.
Solution
During the three different design sprints, our team listened to the requirements of the Spectral team, designed prototypes and battle tested them with users in order to provide a friendly and intuitive experience that checked every goal.
Among many things, our team discovered that:
Borrowers wanted to see actions they can take in order to boost up the MACRO score
Borrowers wanted to see a timeline of how their MACRO score performed over time, including events that contributed to their score
For lenders it wasn’t very clear how the loss was calculated in case a borrower defaults
We solved these by:
Including an “Actions you can take” section where users were instructed on what they can do in order to boost their MACRO Score
Creating a graph detailing how their MACRO Score performed over time
Offering tooltips throughout the dapp, also focusing on information such as how the loss was calculated in case a borrower defaults
Results
After working together, Spectral went on and raised $23M
One week after the launch more than 200k users tested to see their MACRO scores
Delighted users through a beautiful UI experience
Earned users loyalty by listening and implementing direct feedback
Created a base for expanding the product through a solid design system
