Canada’s first regulated Crypto exchange
Wealthsimple is Canada’s first regulated crypto exchange. In October 2022, we launched our most requested feature, staking, making us the first in Canada to offer this service.
But wait, what is staking? To put it very (very) simply, staking is a method of using crypto to earn more crypto. Users can stake their coins with just a couple of taps, and the rewards are automatically deposited into their account.
Client: Wealthsimple
Role: Product design lead
Timeline: January - May 2023
Opportunities based on client's feedback
After three months of releasing our beta, interviewing 20 users, and analyzing more than 800 survey responses, we identified three key themes to improve the feature:
Make it intuitive
Simplify the feature by enhancing entry points, refining flows, and ensuring logical progression.
Build trust
Boost confidence in crypto by providing clear and timely information.
Bring delight
Create an exciting experience for users, celebrating their loyalty despite crypto lock-in periods.
Staking 2.0:
More coins, new pages and auto-staking
We launched Cardano and Polkadot staking, and implemented auto-staking for all our staking coins. Additionally, we redesigned each coin's dedicated page, highlighting the most relevant details for our users. We ensured that these pages were equipped with scalable design patterns, contributing to our enhanced brand presence.
Bringing clarity and delight through a rewards center
We launched a centralized hub for users to view and track the total amount of staking rewards they have earned across various coins. In addition to seeing their lifetime rewards, users can also stake directly from this page. If they do not own a specific coin, they are redirected to the purchase flow first and then to the staking flow.
Results
Specific numbers and percentages can't be shared publicly, but the staking flow updates, the addition of auto-staking, and the incorporation of the two new coins, Cardano and Polkadot, have been a big success.
Credits
Product design: Ainara Sainz
Product management: Varun Jain
Content: Sam Avishay
Development: Kit Armstrong, Amelia Kang & Gabe Wright.
A big thank you to everyone else who has collaborated on this feature since launch!
Made with 🤑 by Wealthsimple.