Clutch Case Study

Clutch’s first product is a dApp that allows users to discover, navigate and participate in the crypto ecosystem.

I co-founded the business in 2021 — the below case study will focus on my product work relating to our dApp.

Team

James Kouzinas | Co-Founder and CPO

Bec Jones | Co-Founder and CEO

Sheela Vats | Co-Founder and CTO

Metrics

2022

0
Strategic Investors
0
Closed Beta group
USD 0 k
Capital Raised

Beta V1

Our journey into product was scrappy and experimental. With limited resources in team and budget, we leveraged the founding team to get things moving.

Our primary goal was to develop base functionality, test APIs, and historical data accuracy.

Key features included Swap, and Send.

Swap

To begin with, we used Meta Mask contracts, mainly to test the UI, specifically regarding horizontal currency display. Simple charting was also provided in this version.

Send

Leveraging meta mask smart contracts, we gave users the ability to easily send cryptocurrency to another wallet address. We aimed to keep the display simple, offering little functionality.

Beta V2

Beta v2 was a drastic improvement on v1.

We implemented a new navigation panel, updated the UI, added several new features, and worked with our own smart contracts.

New Key features included Receive, Wallets, Address Book, Fiat onramp, Education, and NFTs.

Swap v2

We implemented a vertical UI after receiving feedback that v1 swaps were confusing. This version also saw us provide enhanced functionality through a ‘Settings’ option, as well as show extra information regarding slippage and price impact. We also integrated the following Dex aggregators: HashFlow, ParaSwap, 1inch, and 0xProtocol, allowing users to tap into liquidity from multiple Dexes.

Education

Educational content living within the wallet has been a readily requested feature – to kick things off, we developed two modules, each with 5 blogs, and showcased these within the education tab. Each of the cards leads to inner pages that contain the modules.

Wallets

We made it easy for users to see the various wallets they had connected, and each respective balance. A hover function granted users the ability to delete or copy their wallet address.

Fiat on/off ramp

Through an integration with Fiat Onramp, Ramp, we made it easy for users to purchase crypto with their credit or debit card from directly within the dApp.

NFTs

We displayed user NFTs, allowing them to drill down into important data such as price history and attributes.

Data/Charting

Improved historical data retrieval times on user portfolios.

Beta v3

V3 saw us deliver huge upgrades to our dApp. We expanded our functionality, radically improved the web3 onboarding experience, added social content and deep functionality around transactions, and more.

Onboarding

A major floor of the prominent dApps is the lack of onboarding experience. While this doesn’t impact crypto-native users, it is a strong deterrent for new-to-industry folk, who are often left confused by what features, and functionality exists within the application. To support our multi-experienced users, we built an onboarding stepper that guides a user through the application’s various functionality. Note: We made the stepper optional so experienced crypto users are not restricted.

Navigation

With an improved sidebar menu, and a unique dropdown menu, we’re aiming to make navigation a seamless, and intuitive experience.

Token Exploration

Data organization on individual tokens was a key priority and by placing swap functionality alongside the data, we're able to give users the ability to take action on the information they are consuming. Key token stats, links, and a safety verification list were included to give users comfort, and provide them with a rich experience.

Motion

Using Material 3 guidelines, we added easing to transitions. This work is on-going and will start to feature throughout various points of the dApp.

Testing methodology

To test certain features before they went into production, we used Maze.co

We linked high-fidelity Figma assets to Maze, built various tests, deployed these tests to a controlled group of 15 power users, and collected feedback on everything from feature ideas to onboarding flows.

This research, coupled with our demographic research allowed us to make informed design decisions.

Future testing

Heat mapping tools like Hotjar are currently being explored for use in the dApp, so we can unearth data relating to user gestures. This will become critical as we expand the dApp functionality and look to offer technical features such as staking and pool participation.

Personas

Women interested in Finance

Demographics
This customer segment primarily consists of women aged between 18 and 45 who are interested in finance and have a strong desire to increase their financial literacy and understanding. They are likely to be students, working professionals, entrepreneurs, or homemakers.

 

Education and Income
The majority of women in this segment are likely to have a college education, with many holding degrees in finance, business, or economics. They may also have a background in accounting, mathematics, or statistics. This segment is likely to have a household income of at least $50,000, with many earning significantly more.

 

Occupation and Work Habits
Many women in this segment are employed in finance-related fields, such as banking, accounting, or financial planning. Others may work in non-finance-related fields but have a keen interest in personal finance and investment. They are likely to be highly motivated and organized, with a strong focus on goal setting and achievement. They value stability and security and may be saving for long-term goals such as buying a home or saving for retirement.

 

Interests and Hobbies
Women in this segment are likely to be avid readers and learners, with a strong interest in finance-related topics. They may subscribe to financial magazines, attend seminars and workshops, and regularly participate in online forums and discussion groups related to personal finance. They are also likely to be interested in investment opportunities and are always on the lookout for new ways to increase their wealth and financial security.

 

Buying Behaviors
Women in this segment are likely to be informed and savvy consumers who are looking for high-quality, reliable financial products and services. They may research products thoroughly before making a purchase and are likely to compare prices and features to find the best deal. They are also likely to seek out advice from trusted sources, such as financial advisors, before making investment decisions.

 

Marketing Considerations
Marketing strategies aimed at this segment should focus on education and empowerment. There should be an emphasis on helping the target audience take control of their finances and reach their financial goals. Marketing materials should be clear, concise, and easy to understand, and should offer practical tips and advice on personal finance and investment.

First-time crypto users

Demographics
This customer segment consists of individuals aged between 18 and 45 who are new to the world of cryptocurrency. They may come from a variety of backgrounds, including students, working professionals, entrepreneurs, and homemakers, and may be male or female.

 

Education and Income
First-time crypto users in this segment are likely to have at least a high school education, with many having a college degree. They may have a background in finance, technology, or mathematics, but this is not a requirement for their interest in cryptocurrency. This segment is likely to have a household income of at least $50,000, with many earning significantly more.

 

Occupation and Work Habits
Individuals in this segment may be employed in a variety of fields, but many are likely to be tech-savvy and comfortable with new and emerging technologies. They are likely to be early adopters and interested in exploring new opportunities and investments. They value innovation and are willing to take risks to achieve their financial goals.

 

Interests and Hobbies
First-time crypto users in this segment are likely to be interested in technology and finance and may follow industry news and developments closely. They may also have a strong interest in personal finance and investing and are always looking for new and innovative ways to grow their wealth.

 

Buying Behaviors
First-time crypto users in this segment are likely to be cautious and do their research before making a purchase. They may seek out advice from trusted sources before investing in cryptocurrency. They are likely to compare prices, features, and security measures before making a decision and may be attracted to products and services that are user-friendly and easy to understand.

 

Marketing Considerations
Marketing strategies aimed at this segment should focus on education and simplicity. There should be an emphasis on ease of use and security, and information should be clear and concise.

Unbanked

Demographics
This customer segment consists of individuals who do not have access to traditional banking services, such as a checking or savings account and are instead relying on alternative financial services. They may come from a variety of backgrounds, including low-income households, rural communities, and immigrant populations. They may be of any age, gender, or educational background.

 

Education and Income
Unbanked individuals in this segment are likely to have limited access to formal education, with many having a high school education or less. They are likely to have a household income of less than $50,000 and may work in low-paying, unskilled jobs.

 

Occupation and Work Habits
Individuals in this segment are likely to be employed in low-skilled or manual labor jobs, and may work in industries such as agriculture, construction, or retail. They may also be unemployed or underemployed and struggling to make ends meet. They value stability and security and may have limited access to traditional banking services due to a lack of documentation, low credit scores, or other financial barriers.

 

Interests and Hobbies
Unbanked individuals may have limited leisure time and disposable income, and may prioritize basic needs such as food, clothing, and housing over non-essential purchases. They may be interested in finding ways to increase their financial security and stability, but may not have access to traditional financial services or the knowledge and resources to effectively manage their finances.

 

Buying Behaviors
Unbanked individuals in this segment are likely to be price-sensitive and may prioritize the cost of financial products and services over their features and benefits. They may be attracted to alternative financial services that are affordable and accessible. They may also be open to using digital financial services, such as mobile money, that are convenient and accessible.

 

Marketing Considerations
Marketing strategies aimed at this segment should focus on accessibility and affordability. Brands should emphasize the low cost and ease of use of their products and services, and provide clear and concise information on how to get started with alternative financial services. Marketing materials should be designed to be inclusive and accessible and should be available in multiple languages. Financial education and literacy resources should be made available, such as workshops, to help unbanked individuals gain the knowledge and skills they need to manage their finances effectively.

Clutch is an ongoing project — Stay tuned for more product updates soon!

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