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Description
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https://archive.devcon.org/archive/watch/6/a-playbook-for-product-development-in-defi/
I’ll cover frameworks and useful tools to help emerging DeFi product development teams:
1. understand how to set product strategy and establish protocol + user-level goals
2. build an MVP
3. conduct 'what if' analyses – using simulation-based modeling to optimize incentives
4. use a data-driven approach to understand product market fit – tracking the right on/off-chain metrics to identify growth levers
5. understand common web3 nuances that can impact UX
Speaker(s): Alim Khamisa
Track: UX & Design
Keywords: Product,Development
Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum
Learn more about devcon: https://www.devcon.org/
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Devcon is the Ethereum conference for developers, researchers, thinkers, and makers.
Devcon 6 was held in Bogotá, Colombia on Oct 11 - 14, 2022.
Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/
A
A
Camisa
I
work
at
element:
Finance
I'm,
a
product
manager
element
Finance,
is
a
protocol.
A
D5
protocol
for
fixed
and
variable
yields
and
I'm
really
excited
to
be
here
today
to
talk
to
you
about
product
development
and
defy,
and
let's
get
started
so
first
off
I
kind
of
wanted
a
level
set
on
what
does
a
product
manager
do,
and
you
know,
there's
lots
of
different
definitions
and
oftentimes
people
will
think
they
do
one
thing
or
another
oftentimes
a
PM
does
a
lot
of
things.
It's
everything.
A
A
So
D5
research
teams
really
need
to
focus
sorry.
The
D5
teams
really
need
to
focus
on
research
and
development
in
order
to
succeed
in
the
space
they
got
to
commit
to
experimentation.
It's
not
just
about
rehashing
existing
Solutions
and
it's
important
to
take
an
additive
approach
where
you're,
building
new
D5
Primitives
and
contributing
those
Primitives
to
the
open
source
defy
ecosystem
and,
at
the
same
time,
you're
leveraging
D5
Lego
pieces
and
this
again
fits
within
the
whole.
A
You
know
idea
or
ethos
of
composability
within
the
D5
space,
so
having
a
pipeline
of
research
projects
is
really
important.
It
could
really
guide
the
evolution
of
the
product
or
dap
you're
working
on
within
the
D5
space,
and
it
could
potentially
lead
to
entirely
new
products,
and
so
with
that
you
know,
the
the
pipeline
of
research
projects
can
really
form
the
basis
of
the
r
d
roadmap
and
the
r
d
roadmap
is
a
critical
input.
A
very
important
input
into
the
product
roadmap.
A
Mind
you,
it's
not
the
only
input
into
the
product
roadmap,
there's
lots
of
other
things,
but
it
is
really
important.
I
want
to
talk
about
how
do
we
structure
the
product
roadmap
or
lay
it
out
because
oftentimes,
we
think
about
it
from
a
timing
perspective
by
month
by
quarter,
I.
Think
the
now
next
later
approach
works
really
really
well,
especially
in
the
fast-paced
environment
of
defy
or
for
teams
that
are
working
on
new
product
development.
A
A
So
this
is
actually
one
of
my
favorite
sections
of
the
presentation
and
I
want
to
get
into
you
know
how
do
we
find
a
process,
a
product
development
process
that
works
for
for
your
team?
I
have
to
say
that
I'm
going
to
caveat
this
with
there
are
lots
of
nuances
across
different
teams:
team
size,
culture
if
you're
working
on
a
D5
protocol
versus
adapt,
that's
being
built
on
top
of
a
protocol.
All
of
these
things
kind
of
play
into
the
specific
custom
product
process
that
you
should
develop
for
your
team.
A
So
this
is
something
that's
worked
really
well
for
element
Finance,
and
with
that
we
are
still
evolving
the
process,
as
we
should
be
to
suit
our
needs
as
we
kind
of
evolve
as
a
team.
So
stage,
zero
is
kind
of
the
concept
Vision
stage,
and
this
is
where
our
smart
contract
leads
and
our
Founders
both
of
our
Founders,
are
either
previously
to
researchers
and
come
from
a
very
intensive
research
background.
A
Teams
and
our
product
teams
will
kind
of
do
the
scoping
and
prototyping
so
hashing
out
the
UI,
ux
the
requirements
and,
of
course,
also
kind
of
creating
the
project
plan
for
what's
to
come,
and
then
in
stage
three
we
get
into
our
development
Sprints.
Many
of
you.
If
you
work
on
product
teams
today,
Sprints
can
be
typically
two
weeks,
but
it
could
be
a
week.
It
could
be
a
month.
A
So
when
we
get
into
the
Sprint
cycle,
one
thing:
that's
really
really
difficult
for
product
teams
to
do.
This
is
something
I
found
personally
very
difficult
to
do
is
is
is
agile
estimation,
so
so
estimating
the
work
effort
that
goes
into
your
tasks
and
that's
really
important
to
Velocity
and
velocity
is
really
important
to
understand
like
how
is
the
team
performing?
Are
they
able
to
deliver
on
time?
Are
they
able
to
complete
all
of
the
tasks
in
the
Sprint
on
time?
A
Poor
task
estimation
often
leads
to
sub-optimal
Velocity
and
timeline
slipping,
so
I
got
to
give
a
shout
out
to
my
front
end
team
I,
don't
know
if
I
have
any
of
them
here
today,
but
shout
out
to
them,
because
we
came
up
with
this
really
interesting
framework
for
estimation
that
I
think
it
works
really
well.
So
we
kind
of
look
at
time
rough
estimate
of
the
time
to
complete
that
user
story
or
if
it's
broken
down
into
the
into
the
development
tasks.
A
We
look
at
collaboration,
costs
and
I
think
this
might
be
something
that
might
be
new
to
many
of
you,
the
level
of
collaboration
with
other
teams,
for
example.
If
my
design
team
needs
to
provide
new
components,
if
there's
a
lot
of
you
know
if
the
product
requirements
are
really
intensive
and
require
a
ton
of
time
and
require
lots
of
working
sessions,
all
of
those
things
are
going
to
take
away
development
time
and
that
needs
to
be
factored
in.
So
that's
part
of
the
collaboration
cost.
A
So
if
you
have
questions,
we
can
address
them
a
little
bit
later,
but
I'll
just
quickly
touch
on
tools
like
hat
cat
Gauntlet
token
spice.
All
of
these
things
I
do
encourage
everyone
to
to
kind
of
take
a
look
at
and
explore
on
their
own
product
Market
fit
in
kpis
really
important.
This
is
something
my
team
has
been
spending
a
lot
of
time
on
lately
and
what's
the
common
metric
across
D5
right
now
right.
It's
tvl
total
value,
locked
right.
It's
it's
a
good
metric.
Is
it
a
great
metric
I?
A
Don't
think
so
it's
a
good
metric
when
it's
taken
in
concert
with
other
metrics
alone
I,
don't
think
it's
sufficient
to
give
you
a
good
good
idea
of
product
Market
fit
so
tvl
is
not
really
sticky.
Traders
often
look
for
the
best
yields
across
D5,
so
loyalty
is
fickle
and
that
cause
that
can
cause
a
lot
of
volatility
in
the
tvl.
Tvl
is
also
subject
to
a
lot
of
Market
cyclicality
bull
bear
and
it's
just
not
a
good
long-term
metric
to
measure
long-term
sustainability,
health
and
success
of
a
protocol.
A
So
again
it's
not
a
bad
metric,
but
it
should
be
taken
alongside
other
key
metrics,
which
I'll
touch
on
very
quickly.
Ecosystem
engagement,
metrics
are
crucial
understanding,
Community
engagement
and
frequency
developer
activity.
Are
there
other
developers
building
on
top
of
your
protocol
Integrations?
Are
there
other
protocols
integrating
with
your
protocol?
Those
are
really
strong
indicators
of
product
Market
fit
and
the
number
of
unique
token
holders.
A
So
if
the
the
token
distribution
is
is
really
high-
and
you
know
you
have
a
very
decentralized
token
economy-
you
might
have
more
participation
in
governance,
and
you
just
have
you
know
more
participation
in
in
the
protocol.
That's
also
a
really
good
sign
as
well.
Product
engagement,
metrics,
like
daily
active
users
or
daily
active
addresses,
churn
and
retention.
Metrics
user
actions
like
in
a
D5
protocol.
You
often
have
users
depositing
trading
redeeming
and
other
types
of
metrics
are
really
important.
A
I'm
going
to
skip
over
this
for
time
because
I'm
down
to
a
minute
and
a
half,
but
how
do
we
measure
some
of
these
metrics?
It's
really
important.
So,
first
of
all,
you
may
not
know
this,
or
maybe
you
do,
but
a
lot
of
D5
projects
out
there
like
maker,
Ave,
uniswap
dydx
are
collecting
user
data.
Mind
you
most
of
them,
have
the
Privacy
flag
turned
on,
which
is
something
you
can
do
in
Google
analytics
and
other
tools
like
mixpanel,
but
they
are
collecting
user
data.
A
It's
anonymized
data,
it's
really
important
for
informing
product
decisions,
app
and
protocol
evolution
and
optimizing
marketing
efforts
as
well.
What's
really
important
is
that
you've
integrated
consent
management
right
this
kind
of
fits
within
the
ethos
of
web3,
where
users
have
full
control
over
the
over
their
data.
A
If
they
want
to
opt
out
of
anonymous
data
collection,
you
need
to
give
them
that
that
opportunity
to
do
that,
and
then
you
know
open
source
tooling
is
better
I
mean
than
than
closed
source,
of
course,
and
the
the
kind
of
the
the
tech
stack
that
I've
outlined
here
is
a
typical
product.
Marketing
analytics
Tech
stack
that
we
could
use.
A
That
includes
all
open
source
tools
and
I'm
happy
to
chat
about
that
a
little
bit
more
later,
because
I
know
I'm
just
down
to
a
couple
a
couple
seconds,
but
yeah
feel
free
to
follow
me
on
on
Twitter
elements
underscore
Phi
on
Twitter
as
well.
I'll
have
a
blog
post
coming
out,
which
will
be
very
comprehensive
and
cover
all
of
this
in
much
much
more
detail.
So
stay
tuned
for
that
as
well
and
happy
to
take
any
questions.
If
we
have
any
time.