Brothers and sisters of the DAO,
As our team has positioned us well enough to become ready to take on the challenge and maximize on the opportunity - it has come time to place emphasis and our collective abilities on this topic, one that plagues many a DEX with nothing more than the promise when it should be the answer… I feel it to be of great potential benefit to open this topic up in the forum, as many times over our other channels the discussion moves at a very high pace and value is easily left on the table. So without further ado, let’s get into it!
Increasing liquidity is a few steps down the road, and before we can get to that goal I believe it to be useful to examine how we are doing and what we can do to increase our success in the steps prior. Let us break it down for analysis and discussion:
- Firstly, is the matter of marketing and / or strategic communications. The start of the funnel, at its widest point is all fit for the functional subject as such:
- Once arrived and welcomed to Saturn, then follows the matter of UX and Value Offering. It may seem to be quite hefty to bite off entirely, but from a top-down viewpoint it is important that the entire story links from top-to-bottom; as consistency is critical. Many of us know that we are strong in this area, as if you are like myself, one day you found yourself here on the face of Saturn and quickly recognized the value and huge progress behind what you saw and knew there was something to take home. The point of putting this up is to explicitly take these points of strength so they can be released further, farther, and to greater effect. If at the day’s end we just put together a list of key value offerings and unique selling points, it will still have been well worth the effort.
- What caught your attention about Saturn the first time you were here?
- What were your reasons for getting involved?
- Why is Saturn different from all other DEXs, and in what ways will it always be?
- What do you hope to see for Saturn in the future, and how will we get there?
- What do you identify with the community at Saturn? Is there a “DNA” here? If so, what makes it so?
Many of the CEXs have put great lengths into what they call, “the cliffs of user adoption” namely, where the numbers drop significantly in the process towards a fully onboarded member. Some of these may not be applicable to us, but they are worth noting nonetheless:
Cliff A: From being traffic to clicking the sign up button
Cliff B: Confirming an account and providing the email verification
Cliff C: Making the first transaction, namely - “the deposit”
Cliff D: Making the first withdrawal, usually requiring KYC verification
I hope to preface this topic and spark discussion with this post, and I haven’t even gotten into some of the ideas I would like to share and get comments for yet… I just feel that putting some structure into the topic at hand would do us more good in the long run than simply throwing ideas out there. @sam what are your thoughts?
For 2019, to Saturn! Cheers!