Blockchain technology has completely decentralized, trust-less, and permission-less applications known as DeFi (Decentralized Finance) apps that have changed the financial and banking technology field.
DeFi apps enable users to freely send and receive digital currencies without the need for an intermediary such as a bank or exchange. As a result, users may simply swap digital cash and assets without the need for a middleman, enabling ‘trust-less’ transactions.
The terminology and operations employed in conventional DeFi apps may be confusing to an ordinary user. To realize the full potential of these apps and get acceptance from a broad range of users, an intuitive, safe, and enjoyable user experience is essential.
This article discusses five recommendations for UX and UI designers to create a pleasant and unthreatening user experience for their DeFi apps.
Compare regular financial transactions.
Financial interactions between users or companies are always included in all DeFi apps. Transactions might involve the transfer of money and assets, the purchase of insurance and loans, and the deposit of money. All of this is accomplished through the use of blockchain-secured decentralized ledgers. Although the results are the same, the backend transactional operations differ significantly from the traditional financial process.
The graphic below depicts the normal currency exchange process in a standard banking app vs a DeFi app.
The flow is similar in both circumstances, as shown in the diagram. Designers may examine and adapt UX design trends in traditional banking apps to create intuitive processes in DeFi Apps.
Adopt a youthful and fashionable user mentality
The bulk of people who use blockchain technology and DeFi apps are millennials and Generation Z. They are used to programs with trendy designs and simple user interfaces. Applications with complicated operations and poorly designed UX/UI will inevitably disinterest and distract them. When designing for a youthful audience, consider the following UX/UI patterns:
- Gamification : Gen Z despises reading and lengthy instructions; they want to learn by doing. In order to deal with and transact with money in DeFi applications, precise requirements must be followed. In this case, UX designers may use gamification concepts to turn instructions into ‘goals’ or ‘missions.’ This will increase user engagement and minimize the need to follow tedious written instructions.
- Attention span : Users in this group have an attention span of only 8 seconds, according to Forbes, and they explore many screens at the same time. As a result, the DeFi app should have an engaging UX design with exactly the right amount of information to convey the desired message.
- Multiple devices : Gen Z is obsessed with electronics and owns and uses a variety of them. They expect the same quality of app experience across all of their devices. UX/UI designers must maintain a consistent user experience across several device types, as well as strong application responsiveness and simplicity of use.
- Organized and trendy : The workflow pieces in a DeFi application should be positioned and ordered according to the sequence in which they will be used. To achieve optimum user retention, cryptocurrency trading applications should organize the list of available crypto currencies, exchange rates, and call to actions with fashionable UI aesthetics. If consumers can’t discover the correct information and action in seconds, their attention will soon wander and they will eventually switch to better designed and easier to use applications.
Make use of patterns and tones that convey safety and security
Web3 is a new technology, and people are concerned about their financial and personal security when using DeFi apps. Consumers should feel safe and comfortable while using the UX/UI, thus allowing them to trust the program.
UX/UI designers should employ UI components that convey security and trust with caution. The use of UI components such as ‘lock icons,’ ‘shield icons,’ and ‘security messages’ creates a sense of safety and security inside the programme.
Furthermore, the UX design should feature a user-friendly password management procedure that eliminates the need for the user to remember long and difficult passwords.
For user authentication, randomly generated sentences or words in a certain order, or a series of pictures, can be employed.
Avoid complex financial jargon and messaging.
First-time users may be intimidated by the new terms associated with the DeFi ecosystem. For a more seamless user experience, use clear microcopy and, where possible, replace financial terms and jargon with illustrations and animations.
Tooltips can be used to assist users in making just-in-time decisions. They are convenient because they eliminate the need to read through an instruction set before beginning a transactional workflow. The more users learn about the DeFi space through an app, the more likely it is that they will stick with the same app. It generates cognitive psychology, indicating that the app is simple to use.
Use helpful and friendly error messaging
Because Crypto apps are still relatively recent additions to the financial world, users are likely to make mistakes. UX designers must ensure that errors serve as a learning opportunity for the user. When an error occurs, the user should be able to understand why it occurred and be guided on how to correct the error.
The priorities and challenges of a DeFi app design differ from those of a traditional financial application. A UI/UX design agency can help improve the user experience in DeFi apps. UX designers should consider the following tips to improve the user experience of DeFi apps.
- Create UX workflows that are similar to those found in traditional financial applications.
- With GenZ in mind, create trendy and engaging patterns and flows.
- Through UI elements, instill the psychology of security and trust.
- Avoid complex jargon and encourage learning in novel ways.
- Help users learn from their mistakes.