From the product development’s point of view, Arken Finance primarily sets itself to be in the middle between the concept of centralization and decentralization. The team strongly believes that both landscapes have different advantages and flaws which can be subjugated when applying both concepts together in the product.
Decentralized Finance Centralized Finance Strengths Free and open Transparent No restrictions of any kind No verification needed Strengths Fast and reactive Consume few resources Weaknesses Lower technical performance in terms of speed (blockchain) Consume huge resources to improve products Weaknesses Low transparency Lesser anonymity
As a result, Arken Finance weighs heavily on both product development options and continuously improves our platform to acquire positive attributes from both centralized finance and decentralized finance landscapes.
Arken Finance’s real-time price chart is a feature with a specific use case: to be the fastest chart to display token prices for the users. Thus, from the product development point of view, it is not crucial to use a decentralized method of execution. It is designed to index the prices of all tokens and centrally store data, resulting in a fast, accurate, and resource-efficient real-time chart feature.
Arken Finance’s swap engine (currently Best Rate Engine 3.0) is a combination of development with both centralization and decentralization concepts, as all algorithms are kept on the engine but the results are sent to smart contracts to execute transactions with the best rates. This enables our users to have the best price on any swaps.
From these examples, the team would like to accentuate our product development positioning that innovation does not have to come in the form of decentralization only. Arken Finance focuses on our users the most and designs product that is highly optimized by combining these valuable attributes altogether.
At Arken, we care about our users. Since cryptocurrency is a fast-paced industry, things tend to change within a short period. So we continually research, learn from the past, and seek new opportunities to both prevent and support our users. We also improve ourselves by receiving feedback and proactively reaching out to users in order to get a deeper understanding of our users. With these insights, we launched new features and developed the existing ones. We take user experiences seriously as we think user satisfaction is the important key to strengthening the Arken community. Thus, we don’t only conduct market research, but also focus on user experience research by conducting various user interviews and analyzing a lot of surveys in order to empathize with our users, to understand more about their needs and pain points. The results from the UX research team are seamlessly handed over to the UX design team to design the new product or redesign an existing feature which users can experience in the form of our user-friendly Arken website. Arken aims to be the trading platform that continuously improves to deliver the best user experience to our users.