COMPANY
CoinDCX
YEAR
2023
Overview
Transformed a fragmented trading experience into a single-screen hub where users could access all relevant data & actions, empowering them to trade with more speed & confidence.
My role
Challenges
We identified the major challenges in the older Futures trading expereience:
Slow trading flow:
In the previous version, multiple screens and excessive taps hindered quick trade execution.
Lacked contextual charts & market data:
Users were not able to view the market’s chart or stats while placing or managing their trades.
Critical details & actions hidden in L2 pages:
Essential trade details (e.g., margin, position size) and actions (e.g., close/reduce position, adjust leverage) were buried in secondary screens.
Limited scalability for advanced features:
The existing architecture struggled to accommodate the advanced features demanded by power users like cross margin, TP/SL etc.
Alienating power users with high revenue potential:
Power traders perceived the experience as too simple and not powerful enough. This negatively impacted trading volumes and revenue.
Research & insights
Competitor analysis helped us form a hypothesis for a single-screen trading experience, but it was our power user interviews that truly uncovered and validated their need for such a solution. To understand power users' true needs, we conducted in-depth qualitative research. We talked to traders using CoinDCX as well as those using other apps - testing our previous experience vs early iterations of the new experience. Our key insights:
Simultaneous visibility is crucial:
Power users need a "cockpit-like" view. This means seeing charts, stats, and the order book on a single screen, with critical details and actions easily accessible for order placement and position management.
Power users accept high data density:
Power users are comfortable (and not intimidated) with more data on one screen, viewing it as essential for informed decision-making.
Need for speed:
Users prioritized speed, having actions upfront so they can execute them with minimal taps.
Mobile app serves primarily as an execution tool:
For many power traders, the mobile app is primarily for placing and managing orders, not in-depth market analysis, which often happens elsewhere. Hence, we prioritized an efficient trading experience over extensive in-app research/analytical tools.
Revealed key priorities:
User interviews provided valuable insights into which data points and features users considered most critical. For instance, while traders prioritized adding Take Profit/Stop Loss (TP/SL) during order placement, they rarely used Time in Force controls.
Solution
Leveraging our research insights, we designed a radically new Futures trading experience:
Unified cockpit interface:
Designed a single, comprehensive screen that brought together all essential trading components:
Analyze section: Real-time chart, stats & last trades info.
Trade section:
Trade tab: Order book & order form with advanced order types & controls for swift, informed execution.
Positions tab: View open positions' PNL and details, with quick action buttons, eliminating the need to navigate to different screens.
Orders tab: View, edit or cancel open orders.
Optimized for speed:
The design prioritized minimal taps and seamless interaction, allowing users to analyze, execute, and manage trades without leaving the primary view.
Scalability for power features:
The new architecture provided the necessary canvas to gradually integrate more advanced features like a separate Futures wallet, cross margin mode, order TPSL etc.
Outcomes & impact
The launch of the new Futures trading experience delivered significant positive results:
Exceptional user adoption:
75% of users switched to the new interface within 30 days, enabling a quick phase-out of the old experience.
Significant volume increase:
We observed a steady increase in daily Futures trading volume and increasing share of total volume via the new experience.
Enhanced user acquisition:
The new interface positioned CoinDCX Futures as a powerful platform, and attracted new power traders and more KOLs started promoting the product.
Positive user feedback:
Post-launch surveys and direct feedback confirmed high satisfaction, with initial friction quickly fading as users adapted.
Business growth:
This strategic shift towards building an experience tailored for power traders directly boosted platform revenue from Futures trading.
