To overcome the complexity that has become a well-known Achilles heel the industry has struggled with as its users explode from a small subset of experienced crypto veterans to a wider audience, a new entrant in the decentralized finance space believes it can use gamification.
Apart with two basic engagement principles, which can be boiled down to keep it simple and keep it fun, Kalmar is a decentralized bank that sets its DeFi products.
The key to its offering is dealing with barriers to entry that DeFi must overcome to achieve mass adoption, while the quality of the product offerings are, of course, the most important part of Kalmar’s offerings which currently include leveraged yield farming and NFT fundraising.
If DeFi is to become a full-fledged alternative to centralized finance, problems such as complex deposit procedures and confusing user interfaces must be overcome, per Kalmar. Also, calling this complexity “a well-known and common struggle in the race of competing with traditional centralized financial institutions,”
The tools Kalmar intends to use to clear this hurdle are gamification and user experience.
“Kalmar believes that creating a gamification experience with educational elements, along with the combination of various protocols using one familiar and clear interface, can be a serious step toward DeFi’s further evolution,” the company said.
In order to thrive at the intersection of decentralization and engagement, Kalmar has formed partnerships with two firms with deep experience in the field.
One is TechPad, which Kalmar says combines industry leadership in digital product development with years of experience in successfully assisting gamification-oriented blockchain projects.
The second is Blockvis, a blockchain consulting and innovation firm of longstanding experience, which will oversee its fundamental DeFi protocol work. This is key, as code innovation is a fundamental part of that user experience.