Final Design. Select to see more.
As a UX exercise, I was asked to design a new User experience for decentralized finance margin trading.
1) Build a Defi Margin trading platform feature:
- Add Margin Trading in a “trust-less” manner.
- Anyone can jump in and use up to 100X margin.
- Note: Currently, the max trust-less margin is 5x.
2) Exchange between ETH and AAVE (X x Y = K).
- When the user purchases more of one token, you get less of the other.
- Smaller trade does not push the price too much, allows the buyer to use more leverage.
- Larger transactions, plus a large margin, can affect the price too much.
- Adjust balance (with a slider?)
- Intermediary token is the market maker token.
3) Uniswap.org. The protocol will hold some money which will lend to you.
- The riskier the trade, the less a user can borrow. Some ways to measure risk:
A) Run a credit check
B) Consider a counter-party ranking system based on traders’ past trading experience.
C) Depending on how much this trade impacts the market, it will affect the amount of risk accepted by the system.
4) User is a Non-savvy trader.
- Make it look simple for purchasing with margin.
- Complex exchanges like Binance are NOT desirable.
- Go long or short for any asset?
- Specify how much leverage I want.
I researched the functional requirements, competition, trading language, and the current overall app flow. I evaluated blockchain and traditional finance competition and quickly moved to a rapid prototype of a mobile web version.
I approached this as a functional design exercise with the following in mind:
1) Color: Choose some colors from the Solana logo for buttons.
2) Font: Roboto for web browser and web mobile, a standard font with a monospaced family.
Stakeholders accepted the first round of design in less than a week. The work demonstrated how rapid design and prototyping solve immediate usability problems in fast-paced development environments.