Screened on usertesting.com. We asked users to highlight aspects of a STX and Stacking written pitch that would motivate or discourage a user from participating.
Instruction:“Please read the document. If a statement motivates you to participate in Locking please highlight GREEN. If a statement makes you less motivated to participate in Locking, please highlight in RED. Please narrate as you read and highlight, explaining any questions or opinions you may have. “
Screeners:
V5: Same as V4
V4: Same as V3
V3:Have you ever received interest or staking rewards from a proof-of-stake cryptocurrency or crypto lending platform(e.g. Staked, Blockfi, Nexo, Celsius).
V2: Do you own a proof-of-stake cryptocurrency?(E.g. Tezos, Cosmos)
V1: Have you ever mined cryptocurrency?
Learning goals
Results
What is confusing about Stacking?
The transfer process, how bitcoin is generated
How different from other yield mechanisms?(e.g. celsius)
People don’t always understand how to mine BTC, so that comparison can confuse newcomers
Stacking and PoX introduced as the same concept was confusing. This cleared up once we completely separated Stacking and targeted PoS and yield seekers.
What fears to we need to hedge against?
How does Blockstack make money? The one thing consumers have grafted onto is that nothing is free, so if they’re earning bitcoin need to understand what they’re“giving away” and a compelling narrative. Seems“fishy” and“too good to be true”. Flipside“no risk = little reward”
Security. People were skeptical, some associate crypto with not being secure.
100,000 STX minimum
What is the most appealing aspects of Stacking?
Fast and easy mobile app:
“Start earning bitcoin in 60 seconds or less “
Mobile app. App available on android or ios
Relationship to Bitcoin
Adds smart contract functionality to bitcoin(though two folks were lost at this)
STX inherits security of bitcoin
Earn bitcoin as a reward / don’t need BTC to participate
Doesn’t require elaborate hardware or electricity
Earn bitcoin each week
Security stuff
Funds never leave wallet
0% chance losing funds
Help secure the stacks blockchain
What are some known bad ways to explain key concepts?
0% chance you’ll lose your funds
“theres always a risk, this makes me suspicious”
protocol layer choose an anchor block
jargon needs to be edited out
“Can get started stacking in 60 seconds”
“I do know that you need to convert your currency to cryptocurrency. I know that process doesn’t take 60 seconds, it takes days. They validate the transaction, make sure its you making the transaction. I highly doubt that it is going to take 60 seconds to buy in USD stx. Back in the old days I had to go USD to ETH to LINK three jumps take more than a minute”
We need to remove the overt claim details like 60 seconds or 0% chance.
“Industry leading security firms”
Many testers question this claim. Not sure they even understand the idea, they just like to call it out.
“100,000 STX minimum”
“Overall too good to be true vibe. If it is like this no hidden agendas, exactly like this, then thats fantastic and I would use it. The 100k min is a little ridiculous.”
Many testers called this out. The number naturally reads as huge and out of reach to them.
How to explain Stacking