heycorwin
commented
2 years ago @stefanopepe as a start we could look at wallet usage in the top 3-5 geographies and prioritize offering those conversions initially (Chinese Yuan for example)
Closed stefanopepe closed 2 years ago
heycorwin
commented
2 years ago @stefanopepe as a start we could look at wallet usage in the top 3-5 geographies and prioritize offering those conversions initially (Chinese Yuan for example)
Summary With the goal to improve user experience and product stickiness, NEAR Wallet will show a real-time price conversion to common fiat currencies - both for the wallet balance and the transactions.
Intended Outcome NEAR Wallet will help end-users to measure, in fiat value, transactions and holdings in their wallet. The outcome, from a user perspective, is better understanding of the owned assets. From a wallet/product perspective, this functionality will increase the engagement, and the return of users - even if they are not interested to send transactions or perform wallet-related activities.
This feature will positively influence the stickiness of the product (DAU/MAU coefficient) and the overall usability/satisfaction of the user base.
How will it work A backend service will regularly query a price ticker, and will simply multiply the exchange rate by the total tokens (held in the wallet, or subject of a transaction). Some optimizations will keep the price ticker "fixed" unless the user reloads the page, to partially mitigate the micro-volatility of NEAR tokens over time. The first iteration will include USD values, but (depending on the API and the demand) other currencies may be quickly added - enabling users to select the favorite one and keep it as a preference.