Decentralized finance (DeFi) often serves as individuals' initial foray into web3. So, optimizing the user experience is paramount to driving adoption and fostering growth in the industry.
Traditional centralized exchanges have long dominated the market with user-friendly interfaces, but Oku Trade is determined to rewrite this narrative. By leveraging Uniswap v3 contracts and leading aggregators, Oku Trade aims to surpass these exchanges while providing a superior user experience, all while remaining on-chain. Currently, Oku Trade supports a diverse range of blockchain networks such as Ethereum, Arbitrum, Optimism, Polygon, zkSync Era, and many more.
For new users venturing into the world of DeFi, the onboarding process can often be daunting, filled with complexities like seed phrases, private keys, and the overwhelming array of wallet extensions. Recognizing this pain point, Oku Trade embarked on a mission in late 2023 to streamline the onboarding experience for its users.
After extensive research and discussions with various embedded wallet, social login, and email login providers, Oku Trade identified WalletConnect's solution with Magic as the perfect fit – not only meeting its stringent requirements for safety, ease of use, and interoperability across DeFi but also ensuring developers wouldn't need to custody keys or credentials.
Pioneering standardization and security in DeFi
Oku Trade opted for WalletConnect’s AppKit, recognizing its potential to become the “gold standard for wallet connectivity” in the DeFi space, as the company’s CEO Getty Hill said. What’s more, WalletConnect's solution aligned seamlessly with Oku Trade's existing infrastructure, making implementation effortless for its team.
The decision was rooted in the belief that standardization is crucial for both development and security within the industry. By adopting AppKit early on, Oku Trade positions itself as a frontrunner in embracing secure and audited wallet connectors, akin to what OIDF/OIDC has achieved for login systems.
Additionally, Oku Trade values WalletConnect's commitment to standardization and appreciates its efforts in driving forward the industry. “WalletConnect’s leading industry position and dedication to innovation provide assurance that it will continue to lead the way in enhancing the DeFi user experience for everyone,” notes Getty.
Elevating the first touchpoint in DeFi
The integration of AppKit’s email feature marks a significant milestone for Oku Trade in its mission to onboard the next generation of DeFi users. By simplifying the onboarding process and eliminating the need for cumbersome procedures like seed phrases and browser extensions, Oku Trade sets a new standard for the DeFi user experience.
“Now, we are able to level up users' first touchpoint by integrating WalletConnect's email feature. Gone are the days of writing down seed phrases and browser extensions!" says Getty.
Getty expresses more excitement about the implementation, stating, "WalletConnect's new email feature is the UX upgrade that I have been looking for over the last year. This is going to be my go-to onboarding tool for friends because it's so simple."
Oku Trade's partnership with WalletConnect signifies a bold step toward revolutionizing DeFi onboarding and user experiences. By harnessing the power of innovative solutions and embracing standardization, Oku Trade paves the way for a future where DeFi is accessible to all, regardless of technical expertise or familiarity with blockchain technology.
As the industry continues to evolve, Oku Trade remains committed to pushing the boundaries of innovation and collaborating with partners like WalletConnect to empower users in maximizing decentralized finance’s full potential.
