We’d like to share here some ideas on how Keycard can be used to help Status user acquisition ![]()
What is the problem?
It is commonly known that user onboarding is one of the biggest obstacle in the way of adoption of dApps.
Remember this incredible and funny video « How dApps work in 2018 ? Dawn of the dApps »
Things haven’t changed much in 2020
actually: from the moment a user hears about a dApp, gets excited about it, and can actually use it, he has to go through a number of issues he’s not familiar with, and these user interactions are creating a friction that is absolutely killing the user experience.
He has to:
- first find out and install the right tools (should I use an extension to my current browser ? Should I download a new browser ? Which one ? ),
- then he needs to set these tools up (what is a wallet actually ? How do I set-it up ? What are are all these odd numbers and words to store
? - he sometimes gonna need gas for any transaction (if no abstraction mechanism has been set-up by the dApp): Where do I get ETH ? Ouch I need to do a KYC …
- For some dApps, he’s going to need some specific assets from the dApp to have a truly first interesting experience with the dApp. For instance, in a game he should get some free NFT to start with, in a dApp with a specific ERC20 utility token he could get some free tokens to start interacting with the dApp.
What is the opportunity?
Status priority is user acquisition
: we need to get users to download Status, onboard and discover how easy it is to interact with dApps, transact and chat from here.
We believe that Keycard is a fantastic tool that can help Status and dApps solve together a piece of the acquisition problem. We believe that Status can partner with a couple of dApps in a win-win scenario, where customized (co-branded) keycards can be distributed, leading to joint onaboarding of new users in status and in the dApp
Why Keycard
?
Keycard has several characteristics that make them interesting here:
- It is tangible
Apart from the fact that the human brain
loves tangible things, ‘tangible’ is great for marketing. It can be printed, branded, distributed (events, shops, mail) in a variety of ways. In particular, this opens marketing channel to non-crypto users
- It can guide a user with a couple of taps
Keycard can behave like a contactless link, well even a deeplink. It’s particularly interesting because it reduces the friction for the user to download his browser and wallet (user taps his card, and it prompts Status download), and also to search/type the dApp URL
- It can store assets securely
Keycard can do two things here:
- It can come preloaded with assets (but we hear you, they we won’t be ‘blocked’ on the card itself, they are actually stored on a smart contract). They can be ETH or ERC-20 tokens, or NFTs
- Once the user has onboarded, Keycard can be used as hardware wallet to store assets, or a mean of payments (crypto debit card)
- It’s cost effective
You know that, we’ve been saying it for a long time now ![]()
What kind of partnerships
?
A Status/dApp partnership can looks like this:
- Status build a cobranded (dApp+Status) keycard
- dApp distribute the card on its markets/events/channels
- Status & dApp make co-marketing/PR efforts
- (to be discussed) in some conditions Status can subsidize a part of the card costs
- dApp provides assets to preload on the card (ETH gas if needed, ERC20, NFTs)
- Status provides reference code and tools to deploy the redeeming contract of the pre-loaded assets
User experience
The user experience is absolutely key here, it can look like this:
- User taps card on his phone
- User is automatically taken to Status download page
- User is prompted to open Status
- When the user clicks yes, he’s directed to Status onboarding and creates a wallet (on his phone or keycard)
- Once wallet creation is finished, the user is taken to a redeem page, to get his preloaded assets on his wallet
- User is then directed to the partner dApp, and is ready to interact with it
What’s the added value for each party?
Status gets new users:
- Each new user going through the experience above is a new Status user that has onboarded and created a wallet in Status
- We directly benefit from the dApp marketing efforts to adress their channels. And they are tons of interesting ways for them to distribute them: offer/sell them, in events/ in shops/through mail etc.
- We can quantify the results of each partnership
Users have drastically reduced friction to try the dApp:
- No brainer to download the right browser
- Guided by Status onboarding to create their crypto wallet
- Guided to redeem their assets
- Guided to open the dApp
- Can use the keycard as a store-of-value (secure hardware wallet) or a payment mean
dApp get a tangible marketing tool and create value to their users:
- It’s a tangible marketing tool, we’ve talked about that
- They control their user onboarding experience from beginning-to-end, making sure users are guided and that this works (compatibility of the dApp with Status browser for instance)
- They offer/sell a hardware wallet to their customers. It makes a lot of sense for Dexes or dApps for instance
Questions?
Please share what you think about this !
We are particularly curious to have your ideas on which dApps would make most sense to integrate with
?
If these ideas make sense, let’s build our first partnerships soon ![]()