A summary of design & development activity and KPIs for the OpCo product team in November 2023.
General Updates
We have moved the balancer.fi domain away from EuroDNS. This is the registrar that failed to protect the domain from a social engineering attack, discussed here. We have also updated the whois information to correctly assign OpCo as the owner of this domain.
Team updates
- Ansaf (Frontend Engineer) is now contracting part-time for OpCo instead of Beets.
- Anastas is on paternity leave until the end of December.
Development
V3 has been announced here! For the past couple of months, we have been transitioning our resources into work on a new V3 application. As of early November, we essentially put the V2 app into maintenance mode and have been focussing almost exclusively on V3.
The V3 app solves a lot of the shortcomings in the V2 app. As described well in the Beets funding proposal, the new Balancer product will be:
- Multi-chain native to allow for quick exploration of liquidity pools across all Balancer supported networks.
- API powered to facilitate fast loading times, overcoming many of the data challenges plaguing the current V2 application.
- Version agnostic to ensure that any liquidity that stays on V2 will benefit from the streamlined UX.
- Designed with a flexible architecture, with the goal to easily support all current and future pool types.
Design
Below is a high-level list of design activities in August.
- UI/UX design working around new V3 frontend for key pages. This includes revised designs for the pool discovery page, pool details page, and key user flows like adding and removing liquidity.
- Creating a new design system for the new UI. This includes selecting base colors, shadows, typography, button styles etc, across light and dark modes.
- Setting up this design system in a Chakra theme file which can be used by other developers.
- Revised nested pool designs for the new V3 pools.
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 that we haven’t excluded yet.
- Total fatal errors: ~6,222 (prev. 4,623)
- Total successful txs: ~109,697 (prev. 103,643)
This KPI has worsened slightly since last reported in September at 95.5%. This can probably be attributed to increased activity alongside our focus shifting to v3. We will continue to monitor and fix failed transaction issues to get this KPI as close to 100% as possible.
Avg. time on site (30d): 2:00 (+10s)
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.”.
This method of measuring NPS was implemented in October so the November result is our first full month of submissions.
Full results:
Lighthouse is reporting a significant improvement in our performance metric, up from 54 in September. We don’t believe this is the result of any significant changes we have made and must be related to a change in how Lighthouse is measuring performance. The performance of the home page is similar or exactly the same as last month.
Note, Lighthouse scores can be relatively unreliable. However, for our purposes, they serve as useful benchmarks by highlighting any significant issues or improvements that may have been introduced.