1/ We've just launched a new onboarding flow for new users on TokenSets!
— Set (@SetProtocol) February 21, 2020
In tandem with their recent Fortmatic wallet integration, it’s never been easier for users to access a top DeFi product in such a familiar fashion.
For those unfamiliar with Set Protocol, their main product – TokenSets – allows users to quickly purchase sophisticated trading strategies in the form of ERC20 tokens called Sets.
Sets automatically rebalance relative to specific technical indicators – meaning users capitalize on specific market conditions in a passive manner.
Seeing as Set has long delivered one of the better user experiences in DeFi, this new onboarding guide makes it easier for non-technical users to understand how to interface with the platform in a couple of steps.
To highlight the new guide, users are educated on:
- What Sets Are
- Different Types of Sets
- How to Get Started
- How to Fund Their Wallet
- Navigating to Popular Sets
While this information is likely common knowledge for active participants, it’s important to note that many new users are quickly discouraged from using DeFi products without guides like these.
Why Should I Care?
With the recent launch of Social Trader, Set Protocol is quickly emerging as an industry-leading marketplace for Ethereum-based trading strategies.
Seeing as Social Traders are now incentivized by aggregating more volume to the platform, the newly launched onboarding guide is a great point of reference for getting friends & family to quickly and easily trade popular Sets.
With nearly $1M in volume since it’s launch at the end of January, it’s safe to say that Social Trader is only just getting started.
For more passive participants, onboarding guides help expand the potential reach of the protocol – meaning better talent is likely to curate new sets as the userbase continues to grow.
In lieu of the new onboarding guide, passionate community members should look into the newly launched Set Ambassador program – a great way to take evangelism to the next level.
Ambassadors are able to help grow the community through initiatives such as content creation, user onboarding, meetups and more. If you think this role is for you, please visit this form.
What’s important to keep in mind here is that as the protocol continues to scale, the community will play a larger and larger role in future upgrades – ultimately curating the premiere DeFi asset management exchange of tomorrow.
4⃣ Social trading unlocks new markets for @SetProtocol
– Trader @fidelitas_lex turns Turkey into the #2 Set market
– TVL in Set 2x'd in the last 30 days
– Robo Sets still account for (e.g. ETH 20 Day MA Crossover Set) still account for 48% of platform AUM pic.twitter.com/9h6c6Q2SVl
— Spencer Noon (@spencernoon) February 22, 2020
Let’s face it – DeFi is still extremely difficult to grasp.
For those in the know, it’s easy to get overzealous about the vast ecosystem of products and features being shipped each day.
As we begin to cross the next chasm of reaching a new userbase, we need to place a strong emphasis on educational resources to help with user onboarding at large.
In the coming weeks, it’s likely that Set will continue to introduce a suite of exciting new features – meaning this onboarding guide is simply the tip of the iceberg.
For anyone actively involved in DeFi, we encourage you to consider how your friends could benefit from products like Set, and what can be done to get them involved in a seamless, intuitive fashion.
In the meantime, we recommend staying up on all things Set via their official Twitter.
Cooper is the Editor of DeFi Rate and an active contributor to leading DeFi media outlets like The Defiant, DeFi Pulse, and Bankless. He works with early-stage teams through Fire Eyes DAO to incubate governance models and grassroots community development. He is an ambassador to Set Protocol and an author of a weekly publication called Token Tuesdays. To stay up with Cooper, follow him on Twitter.