If you’ve heard of cryptocurrency, you may be familiar with web 3.0, NFTs, and Metaverse. DeFi is another hot topic in the crypto industry. This abbreviation stands for decentralized finance, which aims to revolutionize the financial sector.
Crypto enthusiasts see DeFi as a promising niche and actively invest in it. Thus, its total value locked grew from $26 billion in January 2021 to $97 billion in January 2022.
As of April 2022, the number of decentralized applications for the DeFi ecosystem stood at 225 products. For comparison, there were only 126 such apps a year before. DeFi platforms are believed to be the future alternative to traditional financial systems.
Thus, we are witnessing the emergence of the remarkable industry. It utilizes new insights and ideas, which is also evident in the DeFi platform design trends. The latest applications and projects have a lot in common, using the same visual language of decentralized finance.
As a product design agency, we’ve already had the opportunity to work with cryptocurrencies. In particular, we have developed Gigzi, a platform based on Ethereum that uses smart contract technology. We’d like to share our experience in UI design for crypto and DeFi.
Our team has defined the latest DeFi design trends and useful design tips for you. After reading this article, you will learn how to improve your existing product or create a new, modern-looking, stylish DeFi platform.
We have mentioned decentralized finance so many times. What is it exactly? Let’s get it straight.
What Are Decentralized Finance?
Decentralized finance (DeFi) is a system that allows you to handle financial activities on a decentralized public blockchain network. It makes all transactions open and transparent. As a result, users can carry out financial operations without intermediaries, such as banks, insurance companies, exchanges, etc.
DeFi uses smart contracts to replace standard financial instruments. It allows buyers, sellers, lenders, and borrowers to interact independently of government and financial institutions.
If you’re new to DeFi and want to understand how things work, we recommend starting with basic financial activities. You can, for example, open your wallet and deal with purchasing and selling crypto. After that, you can try staking or lending.
Of course, the most prominent DeFi platforms are decentralized exchanges or DEXs. Users can trade their assets without intermediaries there. The two most popular DeFi examples are Uniswap and PancakeSwap.
Uniswap is a decentralized exchange that uses the Ethereum blockchain. It is the leader among all existing DEXs.
PancakeSwap is a Binance Smart Chain-based decentralized exchange. It is the most popular DEX that runs on BSC and is similar to Uniswap.
These two DEXs are just the most well-known examples, but there are other dApps in the industry like the DeFi wallet MetaMask.
We hope we have made the term ‘decentralized finance’ clear for you. Let’s get directly to the trends in DeFi projects.
Latest DeFi Design Trends in 2022
We’ve outlined five main trends in the design of DeFi websites and applications. Some of them are likely to stay around for a long time. Here is the list.
Dark Backgrounds
Dark backgrounds are already the calling card of crypto platforms. We can safely say that this is not just a trend but a must-have for your DeFi application.
However, if you decide to use a dark background, be careful not to go overboard. It is essential, for example, not to make the background too dark and the text too bright. First and foremost, your product should be user-friendly.
Bright Colors
Bright purple, pink and gradient colors are the quintessence of DeFi projects design. The focus of this industry on bright colors is widely known.
DeFi application designers have done it well. People associate brightness with something new, fresh in general and innovative technology in particular. Bright elements look great on a dark background. But be cautious, as we’ve already mentioned, the main idea is not to overdo it.
Illustrations
Illustrations are another integral part of the DeFi crypto platform design. We just told you about the trendy colors: pink, purple, and gradient ones. You can also add yellow to the list. This bright palette predominates in crypto-illustrations.
Yet, not all crypto platforms use vivid illustrations. Some, like Ethereum, employ pastel shades.
The plots of the illustrations are often heroic. For example, they can depict a person who heroically gained a token.
8-bit Design Elements
In the DeFi industry, 8-bit design is about nostalgia. And nostalgia plays its part.
The crypto sector may seem obscure and hard to understand. The latest technologies combined with bright designs often look quite confusing to beginners. However, the retro 8-bit design is very clear and easy to comprehend.
Futuristic & Fun
Crypto and DeFi projects often use a combination of futurism and fun in design. Thus, they try to evoke positive emotions and make new technologies look promising rather than intimidating. However, strict futuristic design isn’t something out of place in this domain.
DeFi Design Tips You Should Consider
How can you make a top-notch DeFi platform? Create one that provides a flawless user experience and, at the same time, looks great. Here are some tips on how to achieve this goal.
Strong Feedback in Case of Errors
Imagine your user has a problem like not having enough money to make a transaction. In this case, it would help to notify the user immediately and clearly that something went wrong. To do this, you can make a contrasting error notification.
Add a Recommendation to Hold Some Tokens for Gas Fees
Users need to pay a commission to make transactions in the DeFi ecosystem. Those are also called gas fees. It would be convenient for users if your platform reminded them to leave some tokens in their wallers to pay those fees.
Show Equivalent in Dollars or Other Currency as a Tooltip on Hover
Instead of filling the entire screen with numbers, you may add the function to show the equivalent in dollars as a tooltip. When your user hovers over the field, this tooltip will appear. Users will see the amount of money in their accounts not just in crypto but also in traditional currencies.
Replace the Word ‘Balance’ with the Wallet Icon
Do this not to clutter up a dashboard with the same word in multiple places. An icon is a much shorter way to convey the same information. Using it will allow your user to navigate and scan the screen faster.
Allow Approval of Multiple Tokens at Once
Add several snackbars to the screen that will appear simultaneously. Thus, your user will be able to approve more than one asset at once.
Create a DeFi Platform with Arounda
The DeFi industry is growing and evolving at a breakneck pace. In these circumstances, creating new products requires attention to the tendencies.
The latest DeFi design trends for 2022 include an 8-bit design, a combination of futurism and fun, the use of illustrations, dark backgrounds, and bright colors. Your product is likely to benefit from following at least one of them.
We at Arounda closely follow the design trends and employ them in our projects. If you decide to build your DeFi platform, we'll be glad to help you. Our team worked on crypto-projects before and is eager to take on a new challenge.
Contact us! We will make your DeFi solution both user-friendly and trendy.
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