FinTech case study
Running a startup Retearn from scratch
Product Designer | 2022 – May 2023 | B2C | FinTech | Pre-seed $200k
Retearn was a savings product built for people who wanted a simpler, more approachable way into DeFi.
My role
Ideation. As the sole Product Designer at Retearn, I worked closely with founders and led the initiative to design the entire app experience. I conducted user interviews, mapped user journeys, and designed small, progressive quick wins so that we could iteratively enhance the user experience.
In addition, I created three different tones of voice for crypto-native, non-crypto, and intermediate users.
Validation. I designed prototypes to validate ideas and assumptions through usability testing and to support decision-making during stakeholder meetings.
Design Execution. I created user journeys, wireframes, prototypes, design specs, and all assets needed for development, working alongside front-end and back-end developers.
The Challenges
Users
The challenge was to design a flow for people with no knowledge of DeFi while providing enough information for experienced users.
In addition, we did not know our target audience in the first month. The choice was between crypto, non-crypto, and middle audiences.
External
Changed the blockchain twice during development due to sudden changes in the market.
Terra > Solana > TON
Internal
As I was the only person working full time, I held all the product context. The rest of the team was distributed and plugged into the project as needed.
High world inflation
The rise in inflation was causing people to panic as they saw their savings rapidly disappearing. Escalating prices of goods and services created anxiety.
The desire for stability and financial security encouraged people to seek new financial strategies and explore alternative ways of saving and investing.
High entry threshold for DeFi investments
Most DeFi investment products in 2022 were not adapted for users encountering cryptocurrency for the first time.
TrueFi and Compound protocols offered high profitability, but required an advanced level of experience and a large amount of money invested over a long period of time. This left the opportunity to use these tools mostly to people deep in the industry.
Design approach
I moved through user problem identification, multiple solution directions, technical constraints, and finalising the user journey.
Identifying the user problem
Before committing to a flow, I checked how first-time users understood the product promise, what made DeFi feel risky, and where the experience needed more guidance.
Exploring multiple solutions
Exploring technical constraints
Finalising the user journey
Crypto winter
External challenges and two pivots | Terra > Solana > TON
June 2022. We originally planned to develop our project on the TerraUSD stablecoin. However, two weeks after our launch, Terra crashed dramatically and we had to change our plans and priorities.
November 2022. Our second plan was to build the system using a Solana or ETH crypto wallet and smart contract. However, after the unpredictable crash of FTX, we decided to step aside from this idea.
December 2022. Finally, we chose TON Blockchain because it had a lot of investment and infrastructure, looked like a supernova, and also offered the opportunity to win a grant.
