Interview with Product Manager: Yao Lei
Q1. How does FOTA.com do cryptocurrency user research?
Well, we do user research mainly via WeChat and Telegram communities, checking users’ feedback every day and answering users’ questions in the communities, as you know, we product managers are usually “hiding” in the communities. In addition, we will do some small-scale questionnaires for collecting suggestions and feedback.
Q2. As it is known to all, different people have different ways of thinking. People may have different product requirements, so how do FOTA.com deal with those differences?
Every day we receive many product requirements. To deal with those requirements, The very first thing is to identify the core FOTA requirements, and we have a set of criteria for judging core requirements, which have been found through extensive market research. What is more, we need to make a classification for requirements received, to distinguish which one is the real requirement and which one belongs to the pseudo-requirement. At the same time, we will consider the development cost. Moreover, there is a very effective and important method, that is to bring ourselves into a specific scene and experience it ourselves, and then we will find some essential requirements. This method helped us a lot to find out where to optimize for the Option and Futures.
Q3. How do you identify the priority of requirements?
We will make a list of all the requirements and prioritize them. Coordinate axis should be established to show both the requirements and the expected time to deal with the requirements. Urgent and vital product requirements should be placed first. Nowadays, with the depressed state of the cryptocurrency market, we will put Option requirements to a higher level because the depressed market will not influence options trading.
Q4. FOTA.com has already launched two types of options, which are ATM and OTM options. So, why did FOTA.com choose options?
Firstly, as I just said, options trading will not be influenced by the depressed market, so options are suitable for the current market. Also, it is easy to use and beginner-friendly. FOTA.com has a highly professional quantitative strategy team, and the director had worked on Wall Street for nearly a decade focusing on quantitative modeling, OTC derivative pricing, and also trading. Compared with the other teams, we are confident that we can significantly improve options trading in the space.
Q5. Are there any small designs on FOTA.com which you like best?
The first one is the small animation which will be shown on FOTA.com mobile app when users set prices on “Spot” and “Futures.” The other one is that the practice account amount can be reset anytime you’d like, which means users can always use their practice account to trade even if they lose all the 10,000 tokens. In the future, we will make some improvements of options to make them more attractive, and also add more advanced option types.
Q6. Can you please designate one department who we will interview for our next weekly report?
Front-End Development! In my opinion, our front-end development colleagues are all very creative, and I think they will share some interesting ideas or opinions.