When the next iteration of Farcaster Frames was announced it became clear that Pandoras Box opens by bringing fully featured web applications into social feeds. Morpho, a DEFI lending protocol, is a perfect fit to leverage the crypto-native audience of Farcaster by enabling everyone to easily earn yield.
The goal being to make DEFI accessible to everyone, Morpho’s team was excited to be the first to leverage Frames to get as close to endusers as possible.
The process
Alexandra and Samuel went back and forth to quickly identify what should the initial version look like. It should show a selection of options and then guide the user step by step to deposit funds into Morpho to earn yield.
- Select an asset
- Select a vault (Morpho’s definition of which investment strategy/vehicle)
- Deposit funds
- Success Screen
As the dTech team went through the Morpho documentation and API an initial prototype of the screens was sketched and sent over. After a short feedback exchange this first sketch was implemented and live. Testing and feedback becomes using the test application and iterating on it. No Figma or other design systems involved. We went live to code.
As it became clear that ETH deposits are a bit more involved and the Farcaster team launched a Hackathon with a short deadline for us to go live within 3 days, we scrapped the asset selection screen. The user will deposit USDC. This allowed us to focus on the core functionality and get the first version live one day before the Hackathon deadline.
Throughout the whole process there was no synchronous meeting required. The whole project and interation process initially and throughout the Hackathon sprint was done in a Telegram groupchat. Why? It’s fast and we were all on the same page. With the Hackathon version live, we focused on ironing out the user story. The user interface got cleaned up and improved.
An update added a check to notify the user if they intend to deposit more then they have in their wallet.
The same update reworked the Share Screen with the ability to add the Frame to Warpcast permanantly, allowing easy access for the user to deposit again. No need to find the original post or use bookmarks.
The results
A happy Morpho team enjoying a seemless development process without the need to get into details as dTech took care of them.
Though the real joy came from new users being able to deposit into Morpho as it has never been easier before!
Business impact
- 1000+ users in the first 24 hours
- Gaining mind and market share as pioneer making DEFI accessible
- Happy users, stating that it is way easier then the Morpho webpage and depositing funds.
Media coverage
Note: a small selection of Media coverage highlights is shown with overall activity being higher.
- Announcement (20k+ views)
- Dan Romero - Farcaster Founder, ex Coinbase: Tweet & Farcaster post
- Jesse Pollak - Founder of Base, Coinbase Exec: Retweet & Comment
- Tens of thousands of views across the announcement and Morpho social media accounts & more