A summary of design & development activity and KPIs for the OpCo product team in April 2024.
The V3 UI is nearing a beta testable phase. If you are interested in testing our new UI please reach out to gareth@balancer.finance.
Development
We didn’t quite achieve our target of releasing beta access in April but we have set a preliminary date of May 15th at which point we will start to invite known users/partners to test out the new UI. In April we focused on internal user testing and smaller improvements throughout the app:
- Native asset add/remove support
- Swap UI deep links
- Pool filtering improvements
- Portfolio onchain balance fetching
- APR tooltip improvements
As a result of internal user testing, we have a lot of improvements planned for the general structure of the pool and pools list pages. These will be implemented in May. In addition, the key area of focus will be on the transaction flows and how they transition from submitted to success states.
We have also continued to maintain v2 and support changes there where required.
Summary of team focus areas:
- Gareth - v3 Swap UI, general v3 design polish, code review, v2 maintenance
- Anastas - v3 Portfolio, APR tooltips
- Alberto - v3 add & remove liquidity flows, error handling & testing, core package upgrades (wagmi v2)
Design
Below is a high-level list of design activity in April:
- User testing
- 2 formal user testing sessions
- Design iterations based on feedback
- Plan to do testing weekly
- UX/UI and copywriting for v3 app:
- Further iterations to the Pool Detail page
- Improved pool filter designs, including ‘min TVL’ filter and multi-select options for networks
- New ‘Addable tokens’ option within the Add Liquidity flow to help users add their max amount of liquidity based on the tokens in their wallet.
- Explorations around Price Impact visualizations in the Add Liquidity flow.
- Transaction receipts to show what happen on a transactions (previously, we’ve only showed quotes and never the final state of a transaction).
- Better sequencing between preview screens and the new receipt screen.
- New tooltip for ‘Potential weekly yields’ which show monetary amounts.
- Improved ‘Steps’ modules for the action steps, to show users their previous approvals.
- Frontend development for v3 app
- Mobile optimizations, especially on the pool detail screen
- Light fade in animation work on page loads
- Assisting with implementation of popular tokens per network
- Other UI optimizations, including on the Pool Transactions chart.
- Marketing
- Created high level content sections for a new landing page which details the key v3 features.
KPIs
= 1 - (‘fatal’ errors / total successful txs)
Where ‘fatal’ is a label applied to errors recorded in a transaction flow, and total successful txs are recorded via analytics events.
Note:
- Ad blockers prevent error recording and analytics.
- Some % errors are user/wallet-controlled errors we haven’t excluded yet.
- Total fatal errors: ~6,184 (prev. 5,893)
- Total successful txs: ~89,112 (prev. 93,470)
This KPI has dropped slightly since last reported in March at 93.7%. We have not completed any work to fix issues in v2 in April so this can only be attributed to changed network or user conditions.
Note that our primary focus is on the v3 app development. When critical errors come up that can be fixed we will do this ASAP. The errors we are seeing that prevent us from reaching 100% error-free rate are often non-trivial to replicate and fix.
Avg. time on site (30d): 1:49 (-0.03s)
Note, that the Average Time on Site metric can be influenced by market conditions. For instance, we observe an increase in time spent on the site when the market is on the rise.
Taken from this article about what makes a good NPS score: “If your NPS is higher than 30, that would indicate that your company is doing great and has far more happy customers than unhappy ones.”.
As can be seen in the general trend chart above, the NPS score has remained fairly constant at around the 50-60 level which is very good. In April we see a sharp increase to 65 from 52 in March. Because the v2 app is effectively in maintenance mode, whilst we build out v3, we can only attribute this to changing market conditions.