Web3
App
Website
Product Manager
UIUX
Content Writer
Building A $45M
Multi-chain LSD Product
Multi-chain LSD Product
[ StaFi is a decentralized cross-chain staking derivatives protocol that unlocks the liquidity of staked assets, which can be traded, borrowed against, or used to earn interest. StaFi is compatible with a variety of PoS blockchains, including Ethereum, Polygon, Cosmos, Solana, and Polkadot. Currently StaFi product have 12 LSD tokens, with a total value of $45 million]
My Role
Project Manager
UIUX Designer
Business Developer
Methods
Project Management
Product Design
Growth Strategy
Business Analysis
Pitch & Sales Skill
Duration
From 2022.06
Tools
Figma & Sketch
Figma & Sketch
Principle & Nomad 3D
Notion & Keynote
Outcomes
StaFi Referral Program
from 0 to 1 Designing a complex Financial product system
Context
Internal problems and external threats
When I joined company, it had already been running for 2 years. The LSD track was slowly gaining traction thanks to the Ethereum POS upgrade. However, the company had a number of internal and external issues at that time, such as poor UI/UX, incomplete user flow, and a lack of marketing strategies. These issues made it difficult for the company to grow quickly. Additionally, as a multi-chain POS provider except for the EVM ecosystem, the situation was even more complex...
Learning by Building from Scratch
I was a newbie cryptocurrency enthusiast when I joined the company. I was excited but also a bit nervous, as I knew there was a lot to learn about blockchain technology and financial markets. I was quite stressed at that time, but I worked harder than ever to learn everything I could. I studied the project in my spare time and abstracted every new knowledge I could. To my surprise, I soon became quite handy in my work and was able to help the team make important product and strategic decisions.
[ StaFi System Map]
Challenge
Product Challenges
1. Incomplete and Confusing User Flow
2. No Product Flow Management
3. Lack of VI and Brand Communication
4. Potential Product Risks
2. No Product Flow Management
3. Lack of VI and Brand Communication
4. Potential Product Risks
Market Challenges
1. Lack of Marketing Strategy
2. Lack of Market Awareness
3.Heated Competition and Fast-Moving Industry
2. Lack of Market Awareness
3.Heated Competition and Fast-Moving Industry
Tokenomics Challenges
1. Incomplete DeFi Ecosystem
2. Lack of Incentives for both users and validators
2. Lack of Incentives for both users and validators
Findings
For the Product side, Decentralization, Security, and Usability are three key parameters that drive product growth and massive adoption.
How Might We
Let more users know about StaFi so that they can easily use LSD and play LSDFi DeFi Lego without knowledge or channel barriers or security concerns.
Product Strategy
Product design is a complex process that requires careful consideration of many factors. After analyzing the current state of the product, conducting competitive analysis, and conducting user research, I narrowed the goals down to user growth and TVL growth. (DeFi projects are different from other projects in that TVL is the most important North Star metric . User growth is focused on channels and user onboarding, as well as UX aspects. TVL growth is focused on DeFi integrations and business models.
Product Roadmap
a Design process of creating solutions that are user-centered, innovative, and sustainable.
Design Flow
Before diving into the real design, I spent a considerable amount of time analyzing user on-chain and off-chain behavior, as well as our competitors. I then dove into our own product flow, redesigning the product and designing new product features. The whole process was iterative and some procedures were repeated multiple times. I made two major product iterations and designed multiple products from scratch, including the Data Analysis Platform, the Validator Platform (toB), and the POS withdraw Product Flow.
Design Highlights
Complex Product
Even on the user side alone, there are more than 10 product features in 4 different ecosystems, including stake, unstake, withdraw, swap, bridge, profile management, pool activities, mint activities, integration lists, gas station, and more.
Solutions
V1:
· Improve UIUX, Add status notifications, loading & abnormal conditions’ UX
· Add FAQ Sections & Wiki Docs
V2:
· Product Architecture Redesign
· Educational Videos & Tutorials
· Improve UIUX, Add status notifications, loading & abnormal conditions’ UX
· Add FAQ Sections & Wiki Docs
V2:
· Product Architecture Redesign
· Educational Videos & Tutorials
Not User-Centered
Previously, the product was too focused on adding features, rather than making it easy to use. All of those functions are isolated from each other, with few connections between them. There is no clear user flow, which confuses users.
Solutions
V2:
· Product Architecture Redesign: Improve UIUX and improve user flow.
· Simplify Tabs and Functions, Change Product Flow according to user flow.
· Product Architecture Redesign: Improve UIUX and improve user flow.
· Simplify Tabs and Functions, Change Product Flow according to user flow.
Lack Of Brand
The product's lack of visual identity and brand made people question its legitimacy. Additionally, the lack of a brand guide and marketing materials made it difficult for users to distinguish StaFi from other brands, and the Twitter page looked cluttered.
Solutions
V2:
· Build the brand suit and VI system from 0 to 1;
· Build marketing material mockups and guidance for 10+ Mods (Mods, Ambassadors and Rangers );
· Build the brand suit and VI system from 0 to 1;
· Build marketing material mockups and guidance for 10+ Mods (Mods, Ambassadors and Rangers );
Incomplete product flow
Previously, the staking app, gas station app, bridge app, and DEX app were all separated. Additionally, there were four different ecosystems sharing two frontends.
Solutions
V1:
· Integrate four ecosystems into a single frontend, with links to the corresponding apps for further actions.
· Add DeFi integrations to the product, so that users can participate in DeFi activities using rTokens and complete DeFi loop.
· Integrate four ecosystems into a single frontend, with links to the corresponding apps for further actions.
· Add DeFi integrations to the product, so that users can participate in DeFi activities using rTokens and complete DeFi loop.
Product final Solutions, Putting Things Together
01
Home Page
02
LSD Detail Page
03
Profile Page
04
Mint & LP Page
Partnership Sustainability and Vision
BD
Campaigns
Took part in dozens of online AMAs, activities and offline activities (Token2049).
AMA Host & Guest
Community Call Host
Brand Suit and Marketing Mockups
Tokenomics
Solutions
1740% ROI
Solutions
1740% ROI
DeFi Activity Budget Calculation
I am responsible for calculating Pool budget and ROI with founder, and I planed the majority of StaFi mint-drop and liquid-farm activities, attracted overall 13.23M new mint, (suppose FIS = $0.3. cost 0.719M in total)，ROI 1740%
LET'S CONNECT