Compound: Web3 & Loans
Overview
The Compound Ethereum blockchain offers a secure and transparent framework for identity verification, providing a foundation for potential crypto borrowers. By utilising smart contracts, it ensures that personal data is protected while facilitating seamless verification processes. This approach reduces the risk of fraud and enhances trust among borrowers and lenders. Ultimately, Ethereum empowers users to maintain control of their identity while accessing crypto lending opportunities.
My role, results and tools used...
REQUIREMENTS GATHERING
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Conducted in-depth requirements discovery sessions with Web3 and Ethereum blockchain experts, alongside regulatory stakeholders, to fully understand on-chain compliance, governance, and regulatory obligations.
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Engaged directly with users and ecosystem participants to capture real-world use cases, user journeys, and pain points across decentralized applications (dApps).
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Developed draft Inception and Elaboration documents outlining the blockchain solution vision, smart contract scope, system architecture, and phased delivery approach.
PROCESS MAPPING
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User Journey mapping.
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Process flow diagrams.
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I identified potential bottlenecks and areas for improvement.
DATA ANALYSIS
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Competitor Analysis: Researched and analyzed existing Web3 and DeFi lending protocols on the Ethereum blockchain, focusing on their smart contract features, tokenomics, governance models, and on-chain business mechanics.
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Executive Insights: Presented key on-chain and market insights to the management team, highlighting protocol differentiators, risks, and opportunities within the Ethereum ecosystem.
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Data Visualization: Designed analytics dashboards tracking critical on-chain metrics such as TVL, lending/borrowing volumes, protocol utilization, and user activity to support data-driven decision-making.
COLLABORATIONS
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Communicated the process ideas to the UI/UX designer.
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Held, sprint planning sessions, daily stand-ups and sprint review meetings with the development team and QA.
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I prioritized deliverables, obtained client acceptance, and monitored the status of performance and budget.
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Demo of new app features to the stakeholders.
RESULTS
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The new web3 app enabled instant loan approvals for qualified users, reducing the processing time from days to minutes.
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It also reduced transaction times for bill payments and fund transfers by 40%, significantly enhancing user satisfaction.
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The app achieved a high user adoption rate within the first six months, with positive feedback on the app's ease of use and reliability.
TOOLS USED
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Microsoft Visio (process mapping and flow diagrams)
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JIRA, Goodday (documentation, collaboration, task/tickets tracking)
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Google Docs, Microsoft Excel (data analysis, creating use-case documents and datasets)
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Power BI (data analysis and data visualization)
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Slack, Google Meet (real-time communication, problem-solving)