Flint: Solving adoption of the swap feature: Design case study
Hello everyone! I am Harshvardhan, a product and design enthusiast.
This case study is my capstone project for 10kdesigners UI/UX masterclass.(C5)
Problem Statement
Drive the adoption of Swap:
Flint has decided to revamp their entire product and bring in a host of new features including
- Earn: Get steady interest on your crypto coins
- Swap: Swap any two cryptocurrencies instantly
- P2P: Send crypto to your family and friends without any fees
However, before the user can use any of the above-mentioned products, he/she should first add money to their Flint wallet. Your problem statement is to solve the adoption of the swap feature. So, if an investor has $1000 kept in his wallet, how can you incentive the user to use the money to swap cryptocurrencies?
Flint- Website link
My Role
Individual Product Designer
My goal
To come up with solutions for the problem with structured process and create the visual style for the app explaining the solution.
Let’s talk about how I started working on this.
Research
I started my research to understand what swapping crypto coins mean. I came across various things such decentralised exchange, centralised exchange, on-chain transaction, off-chain transactions, different blockchain networks in the ecosystem, different types of wallet etc.
First let’s talk about what is swap? Swap is a feature to exchange two cryptocurrencies.
I checked how swap works in a centralised and decentralised exchange.
Binance is a centralised crypto exchange that provide swap feature with a small fee of 0.1500% on most pairs.
In a decentralised exchange info such as wallet address and blockchain network is very important. Anything wrong can lead to forever loss funds here.
Insights: -
- Cryptocurrencies transactions happens either off-chain or on-chain.
- If you want to transfer your crypto coins from one wallet to another wallet, it happens on a blockchain network i.e on-chain.
- Centralised exchange such as Binance does a lot of transaction off-chain such as trading and swap.
- Decentralised exchange works entirely on blockchain network.
- Swap helps reduce your cost to switch over to another cryptocurrency.[1]
Why users want swap feature?
- User wants a different cryptocurrency.
- Saves trading fee due to only one transaction instead
of two during trading through fiat. - High returns on a different cryptocurrency can lead the user to swap crypto.
- User wants to have more stable cryptocurrencies.
How I solved the problem
There are many things that can be done to drive the adoption of the swap feature. I have classified them into two: -
- Inside the app(solutions)
- Outside the app(solutions)
Let’s talk about outside the app solutions first.
Outside the app
- We can email our users a youtube video and a guide on how to swap cryptocurrencies on flint.
- We can send users a push notification saying “Learn how to swap cryptocurrencies on flint”
- We can promote swap feature through advertisement across various platforms.
- We can send users a push notification about our reward such as scratch cards.
Inside the app
Lets talk about the visual style of the app first.
Visual style
I have used some more shades of the colors present above. I have made the above style guide brief intentionally for the case study. Lets talk about the solutions.
In the app, I worked on the discoverability of the swap feature and also thought about incentives for the users. Here are some of the solutions I thought about.
- Discoverability of the swap feature in the home page
This is the ideal state of the home screen where the user is already using the app from a long time and have some cryptocurrencies in his account. All the cryptocurrencies will be valued in usd and the total balance will be shown in the home screen.
- The card in the home screen informs the users about the swap feature and how they can benefit from it.
- The illustration in the card and the overall clean design helps the users digest the inform much faster.
- Guide on how to swap cryptocurrencies can be in the form of youtube video or a walk around of screenshots or both. It helps the users to understand how the flow works.
- Checked for opportunities in earn flow
In the earn flow, I think there is an opportunity to promote swap feature at the deposit confirmed screen.
The card and the illustration here shows very specific info related to the transaction and thus it will make sense to the user and will lead the user to use swap feature.
- Checked for opportunities in P2P flow
In the P2P flow, I think we can promote swap on the ‘select coin’ screen.
If the user wants to send any other coin P2P, then he can directly enter the swap flow from this screen. The card heading will grab the user’s attention as it is specific to the situation in the screen.
- Incentivising the users in the swap flow
The swap flow: -
The swap flow was designed with the assumption that the swap transaction is happening off-chain. We will incentivise the users using following features:-
- First 5 swap transactions are free, so that more no. of users will use swap feature.
- After every swap transaction, user will get a scratch card as a reward. We can either provide them the amount flint has charged them as swap fee or we can provide some vouchers of other app. Alternatively we can also provide some NFT as a reward in scratch card.
User can see the available unit of the selected coin in the swap screen.
The swap button in the bottom overlay is in the bottom as it is more accessible for the user. Also the scratch card banner cum button is placed thoughtfully as it is under the thumb area and the user can touch it easily.
Wallet screen
I have also designed the wallet screen for the app. Here you can check the cryptocurrencies you have in your wallet and also invest other cryptocurrencies. Users can check the current APY, total avg APY, and also the value of crypto they own. Send, Swap, and Receive feature can be used directly from under the specific crypto’s box in the wallet screen.
Metrics
To check the impact of the above solutions, we can track the event “number of swap transactions completed by all users” over a period of time. Ideally we should compare no. of swap transaction per month before introducing the solution to the no. of swap transactions per month after introducing the solution. We can also track the funnel of the swap flow to find reason for major drop off if there is any.
Prototype
Learnings
- Thinking about the problem in detail and trying to solve it structurally leads to better solutions than directly jumping to solutions.
- I have learned so much about the web3 and blockchain infrastructure while doing research for this problem statement.
What would I do different next time?
- I would use gamification much more.
- Since this is crypto app, we can have mini games in the app that would lead to users to owning some exclusive NFTs as a reward.
If you have read so far, here is something for you: -
Thank you so much for reading
I would love to hear your feedback and suggestions. Feel free to connect on LinkedIn and Twitter.
