NFT pawn Platform - Case Study

Overview Project

The main point of lending and borrowing in decentralized finance (DeFi) is to allow individuals and entities to access financial services without the need for traditional financial intermediaries such as banks or other financial institutions.

Lending and borrowing in DeFi works through smart contracts on a blockchain platform, such as Ethereum, and is typically facilitated by decentralized exchanges (DEXs) or other DeFi platforms. Users can lend their cryptocurrency holdings to others, earning interest on their funds, or they can borrow cryptocurrency by putting up collateral in the form of other cryptocurrencies or digital assets such as NFTs

The Project protocol is a P2P decentralized digital asset pawn platform. A place that allows borrowers and lenders to connect with each other. Borrowers provide NFT by placing collateral and giving the desired loan. Lenders provide a loan by applying for a loan offer with a corresponding cryptocurrency amount.

The Problem

The NFT is non-fungible, it is not easy to buy back an NFT once you give it away.

The NFT may bring more than the monetary value it trades in the market for its owner. Therefore, possession is essential for NFT holders.

This project helps the owner get the funds without giving up possession of your NFT.

The Research

DeFi lending and borrowing platforms have grown in popularity over the past few years, as traders and investors look for new ways to access liquidity and generate returns on their assets. According to a report by DappRadar, the total value locked in DeFi lending protocols reached over $25 billion in early 2021, up from just $2 billion in early 2020.

There are a few platforms in the decentralized finance (DeFi) spaces that allow for NFT-based lending and borrowing, such as Niftyx, NFTfi, and Pawns.app.

User Flows

To find routes for owners to lend/borrow without feeling the friction of entering their personal info or payment method, I created User Flows to find the balance between speed and helpful user input.

  • Lender flows to explore all offer and lending from start to the end.

userflows
  • Borrow flows to create the offer and borrow money.

Sitemap

A UX sitemap is a hierarchical diagram of a website or application, that shows how pages are prioritized, linked, and labeled. If a user flow is like the street view details, the sitemap is like the bird’s eye view.

Wireframes

Taking the findings from research, finding helpful patterns emerged in quickly wireframing out the User Flows.

Visual Design

Building the design system and then leveraging the UI Kit allowed the high-fidelity designs to flow out quickly.

Create the Font style, Icon, component ....

Create the Font style, Icon, component ....

Detail UI base on the design system and wireframes

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