From: thepipeline_xyz
Phantom, one of the most widely used applications in crypto, has a clear strategy focused on user experience, adaptability, and long-term retention. The team behind Phantom has been actively involved with the private Monad testnet for weeks, preparing for launch day to offer a custom-built experience for the Monad community [[00:00:22].
User Experience and Onboarding
Phantom’s approach prioritizes a smooth and thoughtful user experience (UX) to onboard new users to crypto [[02:50:00]. Keon Han notes that Phantom set a standard for smooth UX, allowing users to manage multiple wallets cleanly and effectively hiding spam tokens and NFTs [[03:27:00]. This focus is crucial, especially in environments where gas fees are cheaper, which can make certain attacks, like spamming, more feasible [[04:07:00].
Phantom aims to abstract away the complexities of crypto, making the experience fast and clean without requiring users to switch networks [[01:55:00]. A significant development in this area is the introduction of social login, allowing new users to onboard using their Google or Apple ID with a four-digit PIN, which has seen a “tremendous uptick” in adoption [[09:00:00]. This addresses the challenge of seed phrases, which new users “don’t necessarily care or have time to learn” [[09:25:00].
Key UX Elements:
- Fast and Clean Experience: Designed to be intuitive and quick for users [[01:57:00].
- Spam Protection: Efforts to hide spam tokens and NFTs improve user safety and reduce clutter [[03:43:00].
- User Safety: Beyond onboarding, the wallet focuses on protecting users and preventing unintended actions [[09:50:00].
- Education and Support: Providing general education and customer support are seen as “make or break” elements for adoption [[10:10:00].
Product Development Philosophy
Phantom’s product development is guided by several core principles:
- Adaptability to Dynamic Crypto Landscape: The team acknowledges crypto’s “ever-changing Alpha seeking game” with evolving “metas” [[01:14:40]. Their strategy involves building “primitives first” that can be transferred across different trends [[01:15:05].
- Focus on Core Needs and Continuous Shipping: Despite being a market leader, Phantom maintains an “only the paranoid survive mentality,” continuously shipping and improving value by solving current user needs [[01:16:18]. This became part of the company’s DNA, preventing complacency [[01:16:41].
- Pragmatism and Engineering Focus: Phantom was drawn to Solana due to its “pragmatism” and “engineering focused” culture, a DNA they also see in Monad [[01:17:22].
- Metric and Goal-Oriented: The team uses metrics and goals to guide development, enabling quick experimentation and learning from new features [[01:31:53].
Feature Prioritization and User Personas
Phantom generally prioritizes “net new users” and mainstream users, aiming to make crypto palatable for those who might otherwise use platforms like Robinhood [[01:21:57]. While balancing the needs of power users, they strive to package the best of the ecosystem in a way that’s appropriate for a broader audience [[01:22:45].
When considering new features, Phantom focuses on “jobs to be done” – understanding what users “hire” the product for, such as viewing balances, sending/receiving funds, and discovery [[01:29:16]. The trending token page, for example, leverages aggregate user activity to help users discover new tokens, showcasing a “bit of alpha that’s really fun to work with” [[01:23:46]. They aim to leverage their user base to improve the overall experience for everyone [[01:30:19].
Retention and the “Last Mile”
Beyond initial onboarding, Phantom considers retention to be a significant challenge. The goal is to keep users engaged daily, making crypto a part of their everyday life [[01:27:27]. This includes protecting users and adapting to new environments where factors like cheaper gas fees introduce new considerations, such as managing spam NFTs from scammers [[01:03:43].
Future Vision
Phantom envisions a future where crypto user experience is:
- Mobile-First: The industry is moving “more and more mobile,” requiring quick and snappy interactions [[01:32:53].
- Multi-Chain, Consolidated Wallets: While believing in a multi-chain world, they expect only a “few handful of ecosystems” to truly matter, and the idea of “chain specific wallets” will “fall by the wayside” [[01:33:14].
- Abstracted but Authentic: Wallets will abstract crypto complexities while retaining core features like seed phrases and full Ethereum provider methods, not creating an “alternate world” [[01:34:17].
- Social Integration: Social features will be crucial, enabling users to find friends and interact using familiar usernames, building a “very crypto unique concept of a social network” [[01:35:03].
- Improved Discovery: There’s a significant opportunity for a “crypto specific search engine” or integrated discovery tools within wallets, as current options like Google are “uninformative” for crypto-native searches [[01:51:54].
Integration with Monad
Phantom is committed to supporting Monad from day one, including a custom-built experience for the Monad community [[00:08:00]. They have had access to the private Monad testnet for several weeks, confirming the chain’s speed and working to seamlessly integrate it into the existing Phantom experience [[01:34:00]. The team views Monad as a perfect match due to its fast, snappy performance, reminiscent of early Solana, and its “composable L1” characteristics that foster collaboration [[02:09:00]. This support for Monad from day one is seen as special, mirroring how Phantom was a “game changer for Solana” in 2021 [[03:04:00].
Advice for New Users
For those curious about crypto, Phantom recommends downloading their app, which offers a “Discover tab” with trending content and a deep “learn Center” that includes a “Monad 101” guide [[01:47:11]. They advise keeping an open mind and exploring the fringes of the tech, as crypto has historically “rewarded the explorers” [[01:48:03]. The community aspect is also highly valued, as engaging with a group of like-minded individuals makes the learning journey easier and more motivating [[01:55:17].