Desig Wallet - A digital asset management solution
Product design
Case study
4 min read
Desig Wallet is designed to transform the trader's digital asset management experience, which uses a Multi-signature (Multi-sig) mechanism to execute a transaction, enhancing the security of the user assets.
The team
Harvey Huynh - Product Design Lead
Dong Bui - Product Designer
Thao Le - Graphic Designer
My role
User research, analysis, user flow,
information architecture, wireframing, prototyping, usability testing
Timeline
6 months (2023)
Led an end-to-end product design process
We noticed that Web3 ecosystems are becoming more vulnerable to attacks, so we decided to design a secure platform to store digital assets using a Multi-sig wallet approach. This enhances security as 2 or more people are required to approve a transaction, making it more secure than individual wallets.
I faced difficulties building a new product. However, by leading an end-to-end product design process, I resolved the crucial problems and created a seamless experience for the product that achieved The Best Overall 1st place: $50,000 at The Global Hackathon.
Lost around $172 million related to private key in 2022
Probably more losses that have not been recorded.
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The Recovery Phrase represented a private key that was used to recover the wallet or transfer it to a new device.
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The phrase was a long and difficult-to-remember cluster of characters.
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Users tend to forget or misplace the keys, or unfortunately, they might get stolen.
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A transaction process will be more complicated when many people are involved.
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The users missed out on transactions without opening the app.
Proposed a user survey with over 500 responses to gather user needs and pain points
Research goals
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Validate our assumptions about user problems in recovering the wallet.
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Gather user needs and pain points during transactions on a Multi-sig wallet.
Preparation
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Budget: $500
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Collaborated with the Marketing team to distribute surveys to user groups on various social media platforms such as Twitter, Telegram, Discord, etc.
Key insights
62.6%
of responses indicated that Wallet Recovery was a feature to consider trying a Multi-sig wallet.
37.7%
of the reasons for not using a Multi-sig wallet was that the way to execute transactions was more complicated than usual.
Which platform do you prefer to use this wallet?
Web Extension
30.4%
Desktop application
20.9%
Mobile
48.7%
The user faced difficulties during the wallet recovery process
In the Web3 ecosystem, many existing crypto wallets provide a key with complex and challenging-to-recall characters. As a result, traders may face difficulties during the wallet recovery process, which can lead to the loss of their wallet. Moreover, users often miss transactions, which causes a disruptive experience with the product.
How might we?
1. How might we (HMW) help traders keep their keys safe and easily recover their wallets?​
2. How might we create a seamless experience for trade execution?
Collaborated with Developers to find solutions
HMW #1
HMW #2
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Firstly, use the Recovery Phrase as a Key.
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Try to simplify the wallet recovery process.
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But it's still complicated and hard to remember.
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Finally, decided to use Google, Apple... as the Key storage solution.
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These social platforms were more user-friendly and highly secure.
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Proposed a transaction unlimited time solution.
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Members can interact at any time without transaction expiration.
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However, cryptocurrency transactions must be executed quickly to take advantage of market fluctuations.
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Finally, decided to develop a real-time notification system for the mobile application.
Prioritized main features (Send, Receive, and Swap) on the mobile screen space
Information architecture
Translated ideas into Wireflows to present to stakeholders
Flow 1: Social recovery
Users can import an existing wallet to new devices or recover a wallet when necessary.
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Flow 2: Transaction notification
Users will receive notifications from the phone lock screen and can participate in transactions when are proposed by other wallet members.
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Designed user interface following a modern and simple style
The user could not complete a task when creating a new wallet
I proposed post-launch usability testing to identify any issues with user flows, layout, and content. Based on the results, 3 out of 4 participants chose the wrong chain when creating their first wallet.
Issue #1
Missed information about the selected chain, leading to confusion during the user's wallet creation process.
I added a chain selection step during the wallet creation process, resulting in a 100% task completion rate.
Issue #2
The icons of the Send and Receive functions were confusing, leading to 50% of participants not being able to complete task number 2 within the estimated time.
I changed the icons to better show what the function means and provided additional extended card states with sub-labels, resulting in a task completion time of under 1 minute 30 seconds.
Contributed to the successful launch of the product on iOS, Android, and Browser Extension
The product has been released to a small group of users for testing. In just 6 months, over 10,000 wallets were created, providing traders with a secure option to store their assets. The positive feedback from users has motivated my team and provided us with valuable insights.
However, we received negative feedback from users, which has helped us identify areas for improvement.
Worked closely with the Founder helped me a lot
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He helped me gain insights into product development strategies, which is to break down the product into separate components and develop them at different stages. This approach ensures that the product meets market demand while still making the best use of business resources.
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I discovered that many traders are accustomed to using personal wallets, and guiding them to use the multi-signature wallet presents a significant challenge.
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For the next iteration, I will focus on improving the wallet backup and recovery process to make it more user-friendly for Web3 users.
Still interested? Check out more of my work!
