Onboarding the Next 100 Million Users into DeFi

Web3’s next unicorn will be the product that makes DeFi as easy to use as the iPhone.

Remember when you first caught the DeFi bug? Once you realized the potential of yield farming, DEXs, airdrops, and on-chain perps, you probably experienced what most people do:

You got addicted.

Now, imagine a product that could spark that level of addiction within seconds, not weeks.

If that happened, it would unleash a tidal wave of user engagement, bringing millions of new users to the DeFi space.

Don’t believe that can happen? Well, let’s look at the data.

Only 10% of the 500 million centralized exchange users have dabbled in DeFi.

That’s 450 million sidelined users primed to enter the world of DeFi that are being blocked by unfriendly user interfaces and a complex user experience.

Between the labyrinth of challenges across dozens of Layer 1s and Layer 2s (each with their own gas token), managing private keys on several wallet providers, avoiding malicious links, signing endless gibberish transactions — it’s no wonder most stay away.

To unlock mainstream adoption, DeFi has to be so easy to use that your grandma could do it.

The sheer and overwhelming complexity of DeFi today creates a formidable barrier to entry.

While we’ve seen 100x growth since DeFi summer kicked off and almost $100B locked into DeFi protocols, the user onboarding and transaction execution experience has not only not improved, it’s gotten materially worse!

Everyone wants access to DeFi, AI, Gaming, and Meme tokens, perpetuals, and yields unavailable to the average Coinbase or Binance user.

They’re jealous of John bragging by the water cooler about the 6-figure airdrop he got last week — and they want in.

They’re missing out on all the fun that got early DeFi users addicted.

Until now.

Introducing: DeFi.app — a decentralized web2 interface that gives access to everything DeFi has to offer… but is so easy your parents could use it.

Robinhood stripped away the complexities of trading and delivered a global, user-friendly platform as easy to use as an iPhone. That’s why it exploded to 22 million funded accounts.

DeFi.app aims to be the Robinhood of DeFi.

On DeFi.app you’ll be able to safely create infinite EVM, Solana or Bitcoin addresses with socials (easy) or Metamask (advanced), trade digital assets across all chains, engage in yield farms, try your hand at airdrop farming, and so much more… all with a SIMPLE interface and a couple clicks

This isn’t just a dream; it’s the reality DeFi.app is bringing to the forefront.

The goal with DeFi.app is to trigger the “magic moment” of DeFi in seconds, not months.

Here’s how we achieve that:

First, let’s look at the current process a DeFi user has to go through in order to purchase BONK on Solana.

It’s even more complex if they only have funds on ETH and need to bridge!

In order for someone to understand how to do all this, they’d need to understand the “engine” of DeFi deeply. They’d need to be familiar with bridging, L1s/L2s, gas tokens.

Even then, the risk of loss of funds is enormous (sending to the wrong address, losing PK, signing wrong TX, unclear LP tokens) and the user experience is horrendous when compared to that of buying crypto or stocks on Robinhood

It’s overwhelming and based on our focus group research, it takes approximately 3.5 weeks for the average user to somewhat understand, at best. Many involved in DeFi for months still struggle.

With DeFi.app, that entire process happens in just 1-click.

0.7 seconds to reach the “lightbulb moment” instead of a month.

DeFi.app will soon be live and users can use the beta to acquire points.

DeFi.app’s plan for global domination:

1. Onboarding made so easy your grandma could do it: login with your email, SMS, socials, or external wallet (like Metamask) and generate infinite EVM, Bitcoin and Solana addresses.
2. Cross-chain trading without seeing the words chain, gas, or bridge ever again: users will be able to buy BONK on Solana with ETH on Arbitrum in a single click.
3. Native Account Abstraction and Gasless transactions: 100s of assets on dozens of chains usable as gas. For example, instead of using ETH for gas, DeFi.app seamlessly lets you choose nearly ANY asset to use as gas.
4. Session approvals: instead of approving 15 transactions to bridge & swap, users can select to approve once per login session (easy mode) or for each transaction (advanced mode). Risk controls can be set to enable trading below certain $ thresholds without recurring approval requests
5. Fiat on/off-ramping directly integrated: DeFi.app will be fully integrated with third-party fiat on-off ramp providers meaning you can add funds via Credit/debit cards, Apple/Google pay, bank transfer & more. We will never custody your funds.
6. Single-click yield farming: with our parnership with Radiant Capital (read more here,) DeFi.app will allow you to farm across dozens of chains, and dozens of vetted farms — all in a single interface.
7. Perps: at last, a simplified UX will allow users to go long/short various DeFI assets, cross-chain, without needing to onboard themselves onto existing DeFi protocols.

“A DeFi.app user will never hear the words “bridge”, “L1” or “gas tokens” again — you simply fund your account and can immediately buy and sell every token on every chain. Instantly yield farm and trade without the complexity of needing to understand what’s under the DeFi hood.”

-Dan Greer, Chief Design Officer

“This all sounds great, but how do I use it?”

DeFi.app, aka “The Front Page of DeFi”, is slated for private beta in Q2, 2024.

Early users will be able to play in the ecosystem, and give critical feedback before the DAO begins pushing for “mass adoption.”

These users are critical to DeFi.app’s success and will acquire points.

Welcome to DeFi.app — where decentralized finance meets simplicity.

Visit DeFi.app now to sign up for further updates, and follow on Twitter: https://twitter.com/appdefi