Denisse Halm I Web3 From Niche to Norm I Valora I Pragma San Francisco 2024

[Music] and with this we are ready to move on to our next talk before the break so let's welcome Denise from Vora to tell you more about how do we actually make crypto way more widespread and mobile please give every big round of applause thanks carck hi hi how's everybody doing all right let's get started so I'm here to talk about normies what we were all before we joined this thing called Web three um so I'm Denise I've been working on valora a native Mobile Wallet um for about five and a half years so I've been focused on normies for a long time um I'm now also working on mobile stack I'm the found one of the founders of mobile stack it's a project that we are launching Within valora that aims to um Drive Mass adoption of web 3 in really broad terms and hopefully after the next 20 minutes you'll get an idea of the next of of the actual details all right so um let's see all right so a little teaser is what is the one item you use daily you never leave your home without and you use for everything in your life yes thank you your mobile phone and you're not alone there's about 7.1 billion people on the planet that do the same as you they do their jobs on their phone they communicate with people they meet new people they manage their finances they schedule their lives on their phone um so with a little teaser um there is an opportunity for us in web 3 that I want to talk to you about today so there's a explosive growth as you see in this beautiful chart in um smartphone adoption around the world for us here in San Francisco um or in other places in the world this may seem like no news to you but actually in places like subsaharan Africa Latin America uh year-by-year growth in smartphone adoption is about 6% uh so that means that there's about 200 million new people using a smartphone every year um so the rate is growing really really rapidly okay meanwhile um in the news today our friends at a16z crypto did a deep dive into what's happening in our community in web 3 so they find that there's about six over six million people who are crypto owners so people who hold tokens but that only 5 to 10% of those people are actually users what that means is that they do something other than hold speculate with their tokens um this is after some different methodologies that they present in their in their paper today but that's a really really really big gap so why is what's happening what what are we doing in web 3 that is only really getting to five to 10% of crypto holders not even people um there is great EXP experiences that are uh built in web too so people around the world have certain expectations and mental models benchmarks of what they expect a great mobile experience to be like however um when it comes to web three and users struggle with those experiences web 3 experiences I'm talking about de centralized experience not your coinbase centralized experience um are really hard to navigate it's really difficult to onboard into web three it's really uh difficult to even understand what a dab is let alone trust it and then transact with it so what am I what am I saying here what what are these uses experiences like so I mentioned finding imagine you're a coinbase US coinbase crypto owner you've never touched actual web 3 before so you're not really transacting on chain right like you're on a coinbase ledger let's call it um you need to First find out about these opportunities in defi that may be hard depending on where you are then you need to understand what the opportunity is what is the yield how does that what does it look like what's my risk appetite for this type of product then you need to get the right token a lot of times people need to swap into new tokens to then let's call it deposit into a pool on a or other um protocols they need to then get excited about it maybe deposit some more find some more there's a lot of different things that a user needs to navigate um to be able to get to their end goal and this maybe using a com a different one of three combinations of products they're either on a desktop with a wallet extension I think we're all familiar familiar with that experience um maybe they're in a crypto wallet in a within a in a browser within that crypto wallet so then there's two products as well or finally they're like in a mobile app but they're connecting using wallet connect or some other kit to a web based app so again using two different products or experiences so that just creates a lot of enduser friction why do I talk about the user so much um I've been working at valora on improving the user experience through a product um for a long time and these tiny details big product difference es how we describe things in the product how we make the interactions uh work for users matter those mental benchmarks that they have to web two are really really present for them try again all right um so another um tweet here uh we've built all the infrastructure and we've heard a lot about that today and at these conferences as a community we always talk about the new Innovations or the new tech developments we've built the L2 a i scaling Solutions we have modular chains we have Bridges we have me mitigation all of the infrastructure but who's thinking about the users right like we have built all the infrastructure who is using it all right so some people other than maybe maybe some of you are here in this room but um some bigger protocols and projects are thinking about this and they are realizing that this big opportunity in smartphone adoption is also an opportunity for web 3 to reach more people with these native mobile experiences uh I think it was last year maybe the year before Unis swap launched their own mobile app a wallet they recently also launched their own L2 so that's new new news um the AL team uh joined forces with family wallet to create the avara group one inch has its own mobile app and uh very recently Jupiter exchange also launched their their native mobile experience lots of big big projects right with a lot of resources so what is this Gap in defi or in web 3 generally when I think about when I look at that reader and look at the top 100 dabs in terms of active addresses and tvl we see that 50% of the traffic to those sites to those daps that are just mobile websites or sorry websites accessed are accessed bya mobile so half of these people are having a subpar experience on mobile only eight of the top DBS the top 100 dabs I think that's a stat yes eight of the top 100 dabs have a native mobile experience so what does that mean if we think about the 7.1 billion smartphone users or the 5% of crypto owners who are uh in web 3 it means that half of them the ones that are in web 3 half of them are accessing web 3 and having not a great user experience lots of opportunity there to deliver more value engage users more get people to do more in defi the other part intermediate is that there's an opportunity to reach all the other crypto owners that are not crypto users with better mobile experiences and finally when I think about driving West Mass adoption of web 3 is really getting to every user on the of the mob phone on the planet leveraging the opportunities that we all as a community see and defi by simplifying it bringing it to where they're at which is on their hands in their pockets on their mobile phone so why hasn't web 3 gone mobile why have we still are we still building desktop based or webbased products um the reality is that it's a really big investment believe me I've been investing in this at valora for a long time so there's a lot of foundational work that needs to happen and a lot of it has happened on the web three side but then you need to combine that as a builder with the mobile side of development with a web to site um it's just very expensive so so it is expensive it is hard um we've seen a lot some large players do this they have a lot of resources but smaller Builders it's really hard if you have a protocol team a web three team that is really focused on building web three products to also prioritize building native mobile experiences they just have to choose right like product people we know it's all about prioritization and tradeoffs um there's like a lot of consider ations that when you're building a protocol or a desktop based experience you don't have to think uh about in terms of the product experience the trade-offs that you do between user experience and security for example obviously we want everything to be secure but it means like there's some ux trade-offs that you need to uh do um there's also a lot of uh thinking about okay I'm building this really Innovative infra thing how do I bring this to users that's just like a whole different way of thinking thinking um about building um products you need to think about how to solve a lot of different user problems along the uh let's call it defi or web3 user Journey some of them uh are listed here like setting up an account a wallet uh having the user cash in or add funds buy tokens um getting other tokens that they may need so swapping um accessing those protocols that we're talking about the web 3D protocols that we are all excited to get them on and the list carries on I'm very bad with this clicker all right so there is a great opportunity in web 3 thinking about mobile don't we want all the people in this world to really access use and love the products and experiences and web 3 the opportunities that we are building and we um are leveraging as a community we really need to improve and build confidence with broader consumer audience in these products in these uh experiences and these opportunities we need to make them more accessible and at uh valura and mobile stack we really believe that that accessibility comes with a building on mobile making things experiences easy to access um and very simple to use so I'm here to introduce you to mobile Stack mobile stack is a platform that helps web3 Builders launch native mobile experiences to deliver better ESS for their existing users reach new consumers with mobile apps and do it all in weeks not months because we're busy people we're building great web 3 protocols and we're not all mobile developers I'm certainly not one um so in the next couple slides I am showing a demo of what I would look like if our friends at Curve prod call would be interested in building a daap sorry an app they already have a dab um we haven't built this this is just for illustration purposes so um what are the different pieces of uh creating a mobile app that Mo uh mobile stag is bringing uh to all as a platform so the current state of things is that it could take months years to build and then launch this app on the Play store and the App Store you you need to think about building like the core components of web 3 uh like creating a wallet security seed phrase management you need to bring the users to your the protocols that you've built that you want them to access and then you need to think about things like branding and experience and all of the ux friction pieces that I mentioned before so with mobile stack we helped Builders customize all of that it can look and feel like a protocol you get to the side your brand it has very simple ux and design components that have been battle tested uh at valora we've been building mobile products for over five years and you can then customize products even further the key piece is this human first interactions these products that will are built on mobile stack are built thinking of the end user they are built so that users don't have to be interfacing with multiple products like those wallet exchanges um the browser um Ina browsers and all that stuff it's all in one native mobile experience that kind of meets their expectations when they're comparing it to those mental models in web 2 so here's a list of some of the things that as a builder you would get out of the box with a mobile stack on the left we would have um we have like the IOS and Android app kit so um you can build both apps at once the human Center ux all the designs for the product features in your wallet so wallet creation um security so seat Frid Management in the back end in the front end for the users there's web tool loog web to like logins with email phone numbers so users don't have to think and worry about their seat phrases while maintaining self- custody we um also have all of the kind of core web three functionalities that a wallet would need like sending tokens receiving tokens and so in tokens across chains so it's really easy for a user to like move between different defi opportunities that they see different pools uh Etc we have uh positions so one of the big pieces uh of feedback from our users at valora that we incorporated recently is that when they deposit tokens into let's say they provide liquidity in Unis swap or in a that balance gets removed from a lot their wallets and so all of a sudden it's like the value is gone so with that positions or positions generally we're able to um help the users maintain a whole balance kind of like view of their of their web three uh activities and then the transaction feed obviously very very core and then on the right hand side you can see some of the Integrations and plugins that mobile stack helps Builders Pi um provides for Builders to pick and choose from we go from like Integrations so that users can buy crypto with Fiat or sell it um the defi plugin so there's native dii actions in those apps for example you in valora you can provide liquidity to an pool without leaving valora without using wallet connect none of those things um same with cross-chain swaps you can do that all inside inside the mobile stack app that you're building notifications like push notifications or inbox messages news feeds forone number mapping so some uh use cases in web 3 that consumers are very excited about are peer-to-peer payment ments and so sending uh tokens to a phone number instead of a a wallet address localization if we think about all these people across uh the whole world especially Emerging Markets we see that having products and user experiences that are in their languages and are built for them um makes them trust them so much more and so much faster uh on chain points there's a lot of experimentation with that right one of the latest Innovations in uh web 3 uh consumer is points and so there's also that and referal because um at mobile stack we really believe that web 3 will grow through word of math all right um this is one of the first adopters of the mobile stack platform shifi has launched an app uh built on mobile stack for their cohort 12 shifi is a learning program or an MBA for web 3 focused on helping bring more women and um um different people into the space uh for either Career Development or for for other reasons and they built a mobile stack app that helps all those people in this cohort 12 so about 2,500 people um take their first steps in web 3 through a very uh easy to use native uh mobile experience and so this app is live today on Google Play you can download it uh it's also available on iOS and then finally this is the moment truth I put a little video here so you can get sense of that curve demo that I was talking about so hopefully a place [Music] all right um thanks so much if you're interested in talking mobile Talking end users consumers I'll be around so find me here or you you can find me on Twitter at Denny you'll see me around also here so thank you [Music]