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Engaging and educating users
Engaging and educating users is an important aspect of expanding access to DeFi products. By measuring and communicating on-chain financial behavior, protocols, wallets and partners can help their users to better understand the products and services they're using and how they can benefit from them - leading to increased customer satisfaction and engagement, which can ultimately result in increased revenue.
One key area of engagement and education is credit scores. As soon as people have a credit score, they often want to know how they can improve it. Users recognize that creditworthiness enables them to access financial products on beneficial terms, and they are looking for guidance on healthy behavior that can help them to improve their credit scores.
Financial providers can engage and educate users by providing tools and resources such as educational content, credit score calculators, and personalized financial coaching. Additionally, as the web3 and DeFi space is relatively new, guidance on how to engage with these products in a healthy way is important. This can include information on how to manage risks, how to evaluate the trustworthiness of different providers, and how to stay safe and secure when using these products.
Overall, engaging and educating users is an important aspect of expanding access to web3 services, and is essential for building trust and fostering customer loyalty.