The cross-chain bridge is designed to facilitate two types of transactions: inbound transactions, which allow users to transfer funds into their Sovryn portfolio (seats on the rootstock chain), and outbound transactions, which enable users to transfer funds out to other chains.
Overview
At the end of 2022, Sovryn went through a rebranding process. As part of the rebranding, Sovryn decided to create a product that offers 0% interest loans for bitcoin holders using bitcoin as collateral.
Research
In order to understand what caused users to inadvertently sent funds to the wrong networks, we engaged in conversations with users based on the help requests we received for our users. Based on those conversation we identified two primary contributors to this issue:
In order to understand what caused users to inadvertently sent funds to the wrong networks, we engaged in conversations with users based on the help requests we received for our users. Based on those conversation we identified two primary contributors to this issue:
The terminology used on our portfolio page ("Deposit" and "Withdraw") created a false impression that the portfolio page acted as a standalone wallet, separate from the user's wallet. This resulted in users attempting to deposit funds into their Sovryn portfolio or withdraw funds to their browser wallet, leading to the loss of their funds.
Market Research
Conducting market research, I examined the terminology employed by various products in both the crypto market and traditional banking sectors. This investigation aimed to discern prevalent industry practices and inform strategic decisions for our product's terminology, ensuring alignment with user expectations and established norms.
Ideation
To overcome these challenges, I worked on coming up with ideas, collaborating closely with the product team. The process involved crafting an initial draft of new terminology and design and subjecting it to an A/B testing.
Bridge In/Out Version
Send/Receive Version
Simplified Terminology
We changed the words on the portfolio page to "Send" and "Receive," and added helpful tooltips. This tweak aimed to clear up any confusion and give users a clear idea of what each page does.
Guidance and Design
step-by-step instructions during the Send/Receive process and a redesigned layout were introduces to helped users focus on the most important information and prevent accidentally sending funds to the wrong place, making the experience better for users.
giladrfg@gmail.com