- Radix launches a gamified DeFi onboarding experience.
- Users earn rewards by learning about DeFi.
- More features are planned, including major events.
Decentralized finance (DeFi) promises to revolutionize finance, offering services without traditional intermediaries like banks. However, most platforms are complex, which deters potential users, especially those new to the space.
Radix, a leading DeFi network, aims to bridge this gap with RadQuest, a platform that simplifies DeFi for newcomers. By using gamification and rewards, RadQuest hopes to attract new users to DeFi.
Radix Launches RadQuest to Simplify DeFi Onboarding
As new users struggle to get into DeFi, platforms do whatever they can to simplify the process. On Tuesday, July 30, Radix unveiled RadQuest, a platform to gamify DeFi’s onboarding experience. The platform offers an interactive process to engage and learn about DeFi, catered to new users.
Sponsored
RadQuest addresses the common challenges of DeFi onboarding, such as technical jargon and complex interfaces. Radix unveiled its solution in the form of a new mascot, Jetty, which will guide users through essential tasks in DeFi. Jetty will help users set up a Radix Wallet, create a Persona, stake XRD, and use a decentralized exchange (DEX).
Completing quests rewards users with XRD tokens and gift boxes containing tradeable on-chain items. Users can combine these to create which can be combined to create unique NFTs called RadMorphs. By combining gamification and rewards, Radix hopes to make DeFi more accessible to new users.
New Users Find DeFi Intimidating
Many users find DeFi platforms intimidating. Challenges include a lot of technical jargon and complex interfaces, making it difficult for new users to engage. What is more, users also run the risk of making irreversible, costly mistakes due to the decentralized nature of DeFi. These challenges discourage potential users from engaging with DeFi.
For that reason, RadQuest aims to address some of these issues. The gamified process aims to help new users across the critical first step in engaging with DeFi. This is a part of Radix’s broader strategy to drive mainstream adoption of DeFi.
The strategy includes significant upcoming developments, such as integrating MayaChain for seamless asset transfers. The company will also participate in major industry events like Token2049 in Singapore and the European Blockchain Convention to bring DeFi closer to even more users.
On the Flipside
- Attracting and retaining users for DeFi platforms is complex and requires a simple user experience at every step of the user journey.
- High gas fees are one factor that deters DeFi accessibility. Due to its low fees, scalable chains like Solana have seen increased adoption rates recently, especially in the memecoin market.
Why This Matters
RadQuest aims to tackle the important issue of making DeFi accessible to a broader audience. By simplifying the onboarding process and offering tangible rewards, Radix hopes to drive the mainstream adoption of DeFi.
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