Ever wonder why do design competitors copy? 🤔 Designers usually copy the style, built, design, and all possible similarities and launch new products with slight changes.😵💫This statement begs a question: Why do UX designers copy the exact style? It is because, “The majority of users’ time is spent on other websites. This indicates that visitors want your website to operate similarly to every other website they are already familiar with.” –Jakob’s Law This is the reason why many Decentralized Crypto Exchanges (DEXes) look almost the same with hints of different features to give their users a welcoming look and feel. 🤯 In this analysis, our UX designers picked out the 8 most commonly used exchange platforms and discussed the similarities and differences including unique UX features of the DEXes. We will be discussing the following DEXes: Orca simplifies the trading, farming, and constructing of cryptocurrencies. On the Solana blockchain, Orca is the best place to exchange cryptocurrencies. On Orca, you may swiftly swap tokens (thanks to their Fair Real-time Price Indicator). Targeted Users: Traders looking for a way to trade cryptocurrencies on the Solana blockchain. Sushiswap supports 14 chains and offers an alternative to the trading of tokens from liquidity providers (LP). Users can purchase and sell through Sushi DeFi and decentralized exchanges using SushiSwap, which uses the Automated Market Maker (AMM) protocol. The repetitively similar feature between Sushi and Ocra is the wallet connection functionality available at the bottom of the converter. It is for the user’s ease to get the wallet connection at a click. Targeted Users: Crypto traders that seek multiple pool liquidity options. Symmetry is known to be a fast DEX as it is built on Celo and xDai networks. Symmetric is made with the goal of promoting Decentralized Finance’s mass adoption, and it was created with the needs of new users in mind. Targeted Users: For the users who want to manage their assets, provides an on-chain pool; which means instead of paying the index holders, users get earning fees and high transaction speeds and almost no cost. The problems associated with decentralized AMM architecture, such as excessive gas costs, pointless failed orders, and liquidity fragmentations, are addressed by Raydium. Targeted Users: Users of cryptocurrencies that require an on-chain order book AMM enabling the development of Defi to boost trading control. Quickswap functions similarly to Uniswap in that users provide liquidity and earn transaction fees when they swap tokens from these liquidity pools. Targeted Users: Cryptocurrency traders that want to transact on a DEX powered by Polygon with almost no gas fees. Other DEXes support the address access manually known as the pilot token, but in traderjoe, the token is reflected automatically at the converter. In many aspects, Traderjoe is similar to other decentralized exchange platforms accessible in the Defi area. Although it has tools for trading, liquidity pools, and yield farming, its standout feature, “The Rocket Joe,” is the main reason consumers utilize it. This rocket will serve as the starting point for Defi protocols. It enables cryptocurrency producers to introduce their own token and build their Protocol Owned Liquidity from scratch. Targeted Users: It promotes the consumers’ usability with compelling advantages such as incentivisation. The system is user-friendly for new users. A TRON-based trade protocol is called SunSwap. Its unique feature is that all trading fees are paid out to the protocol’s liquidity providers rather than the protocol itself. Targeted Users: Per users’ requirements, conversion between any two TRC20 tokens is possible based on system price. At first look, Osmosis provides a welcoming attracting interface with colors and design elements. Vibrant colorful illustrations can easily attract users to engage with the platform. It can be appealing to some newbies as well. Targeted Users: Crypto traders interested in an AMM on Cosmos blockchain. Before beginning the analysis, we discussed similarities among the DEXes and why users prefer them. This is why in the majority of the DEXes, the converter block being the heart of the DEX, is placed in the middle of the home page. Furthermore, we have noticed in Symmetry, Raydium and Traderjoe that they have enhanced the UX by adding a graph of crypto value. The visualization helps the users to make a decision based on the patterns, also, it is easier to memorize an image rather than text or numbers. Two of the above-enlisted DEXes, focus on the usability of new users. Their platform is designed per the concept of ease for new users. This also adds to the favour of unique feature points. The user will only feel attended to if they get a proper guideline 📝 or a walkthrough 🚪 on any new website they enter. To buildup a great user experience, speedy transactions, supporting rare digital tokens and providing users with better prices than the other DEXes are all secondary. Firstmost element is the interaction of the consumer with the platform. 👨💻 To achieve a top-notch neat user experience, the effort goes in by the creative and analytical thinking of the designers, the substructure and assistance of the developers as well as the rational guidance and support of the project managers. Only then, do the users get to enjoy a smooth interface with their desired options. As proven, teamwork makes the dream work! 🏆 We at Expedite, create experiences that are based on the best UX practices, market research, and user testing. Schedule your meeting with us right away to get your products best for a smooth user experiences. Check out our METAMASK case study.ORCA
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SUSHI
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SYMMETRY
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RAYDIUM
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QUICKSWAP
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TRADERJOE
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SUNSWAP
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OSMOSIS
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Final Note 🏁