Something has been brewing in the background… In February, the DAO voted on the new branding solution for FODL. Since FODL is set to completely decentralize the community it was only right to have you all have a say in it. The community overwhelmingly voted for “Finalist #1” — it secured 79% of all votes! We absolutely love the new logo and branding, and with this new branding also comes an improved platform.
When we first launched FODL we had one thing in mind — technology. Our goal was to get this technology in your hands so that you could trade with leverage on a fully decentralized platform.
So what comes now? Now that the technology is in your hands, we want to turn our focus to the user experience and transform this technology into a best-in-class product.
We began on the journey of launching FODL v2, which would combine this new branding with a new product feel, user interface, and trading experience.
We are proud to introduce you to FODL 2.0!
Completely redesigned with a fresh look — new color scheme, branding, and of course an upgraded UI/UX! The underlying technology remains the same, but the trade lifecycle and management of positions are now much simpler and intuitive.
But, you might be wondering: What exactly changed?
In order to make FODL the success we believe it can and will be, it is imperative that we make a great first, second, and third impression on users…the brand needs to stand out with a unique look & feel.
But standing out alone isn’t enough — ideally, you want to stand out by being better, not worse.
So we tasked our design and creative team with finding a look and feel that helps create a welcoming, clean, and modern experience for new and returning users alike… and they delivered!
With a mix of French Violet, Coral Pink, Saffron Orange, and Space Blue as primary colors, the new logo, and an improved, sleek UI & UX, we’re ready to go out into the world and show them what they’ve been missing out on.
A key part of a good UI is making it easy to understand, even if someone is not very familiar with the topic at hand — that is why it is always good practice to add short explanations via tooltips.
Whenever a user is unsure about something, all that is needed is to hover the mouse over that item, and an explainer box will now pop up to explain what the user is looking at. Find something missing? Let us know in our discord!
The terminology on FODL was a bit unclear. We consistently heard feedback that “Supplied’’ and “Borrow” aren’t intuitive for all our users so we set out to improve that terminology. “Long” and “Short” are much more commonly used in trading circles, and even those with little experience in trading might have at least an idea of what is meant by “Long” and “Short.” Therefore, these terms have been changed for added clarity.
In the first version of FODL, the trade execution’s goal was to amplify the amount supplied to the underlying lending platform by leverage. As we are transitioning to new terminology, we feel it’s best to also align the leverage display to the more commonly known concept of leverage: a multiplier of the value exchanged.
Applying this correction means that on v2 your leverage will be represented more accurately and you can easily compute profit with the simple formula: PnL = leverage * relative price movement of the “Short” asset against the “Long” one.
The PnL of the position is not affected at all by this change, as the state of the smart contracts has not changed. The visual revision is only to improve user experience and offer a more familiar view of leverage as it correlates to classical profit calculation.
Since the beginning, users had asked for further details about their positions throughout the trade lifecycle process. You were able to see your supply and borrow value, and initial P&L. We felt like this was up for a change. In FODL 2.0 we give you a very clear overview of execution price, liquidation price, your exact supply/borrow/borrow limit usage, and APR overview. A few big changes here are the ability to see the liquidation price. You can now see at what price, and what price change, your position will be margin called. With the execution price overview, you are quick to see the amount of slippage you should expect. To better aid user decisions and position management, the APR is displayed separately for each revenue stream:
- The net native apr represents those rewards that auto compound. It is derived from the difference in interest accrued on the supplied amount and owed on the borrowed amount.
- The underlying platform APR is an aggregate of the supply and borrow governance rewards. These rewards are claimed when closing a position.
- FODL APR acts as extra incentives for early supporters to use and popularize the product.
You probably don’t want to have to dig through the platform every time you’re looking to get a quick overview of which positions you currently have open.
Therefore, a “Your Positions” tab just made sense. A full overview of your currently open positions is just one click away!
It used to be that you needed two sites open — one for FODL, and one to keep an eye on the price charts… that doesn’t exactly scream “great user experience”. So we fixed it!
You will now be able to see the price charts for whatever you are trading right then and there, in the FODL platform.
As you’ve seen, almost all the pieces are there already… strong design, an intuitive user interface, a smooth user experience, and a knowledge hub coming soon!
Whenever someone is not sure about something or wants to find out more, this is the place to be!
We’ve reworked our old Gitbook by adding simpler explanations to help newcomers understand how to use the platform, as well as explaining the underlying technology of FODL and why we built FODL.