Retail Users

Currently, the main frictions experienced by retail in DeFi are related to:
  • On/Off-Ramps for bringing fiat in and out of the space
  • Bridging between blockchains
  • Initial trepidation using non-custodial wallets
  • General problems with UI/UX
  • Timidness towards DeFi concepts
These all point to the cumbersome process of withdrawing fiat from one’s bank to finally placing a trade on a DEX. The process often involves going through multiple avenues and protocols, and notably leaning on CEXs. The new user typically watches how-to videos or reads posts on how it is done, anxiously following each step.
It quickly becomes apparent to anyone but the most hardened Web3 users that using a centralized third party is preferable to the hassle and pressure induced by this!
Integrating efficient on and off ramps means deposits can be made with a credit card and the cryptocurrency immediately deposited into Vertex is ready to be used for trading. Withdrawals are just as seamless, reversing the process, and allowing fiat to arrive into the destination bank account within a few days. The Vertex UI will encapsulate this process without the need to shift between different protocols.
Integrated bridging further reduces friction, allowing assets from a source blockchain to appear on the destination chain with fast finality, ensuring assets are quickly available to trade once bridged.
Vertex addresses the intimidating UX of wallets by integrating single sign-up options (SSO) that are so prevalent in Web2. Users will be able to use email or social media accounts to sign-up for an account and create a wallet. Behind the scenes, the user’s private key remains unviewable by anyone other than the user, preserving the self-custodial ethos of DeFi, while extending the convenience of Web2 to novice users.