After helping a community member in Nifty League, a community and GameFi project I am in, swap in a DEX and transfer his coins to his CEX account for the first time I realized (again) how much is to be done to streamline the process to onboard more people. Here are the steps I helped him through:
- Sign a transaction in #Metamask to approve his ERC-20 token to be used in Sushi Swap for the first time.
This step was confusing for him :))
“Bro, I already signed a transaction but why my tokens are just sitting there?”
- Sign a transaction in Metamask to swap his ERC-20 token to ETH.
“Bro, why this transaction is more costly than the previous one?”
- Select the correct blockchain in Binance account (there are Ethereum, BSC, or #Arbitrum — an Ethereum L2 network)
- Copy and paste the Binance address to Metamask
- Type the amount of ETH to be sent
- Sign a transaction in Metamask to transfer the coins
Three platforms (wallet, DEX, and CEX).
Three networks (Ethereum mainnet, Binance Smart Chain, Ethereum L2).
All just to collect rewards from a game so it can actually be used in real life.
I talked about the population of people using Ethereum mainnet in my previous post which is just above 415k users in July 2022. In the first week of Aug, 70k new wallets are detected which is perhaps burner wallets of existing players including me 😝 as the number of weekly active traders in OpenSea stays hovering around 150k .
My dad, who is less fluid than me in using technology and gadgets, once asked how he can buy an NFT. I replied:
“No, please don’t for now.”
I was afraid that he would just fumble between the process and sent the funds somewhere.
And there is no UNDO in the blockchain once a transaction is signed.
Looking at the number of steps and platforms above, the numbers won’t grow so fast if no streamlining of process is done. We still have work to do.