How DexToro Democratizes Access to DeFi With Turnkey

Learn how this next-gen crypto trading app drives adoption from web3 newcomers with seamless embedded wallets.

• 90% reduction in onboarding times
• 99% onboarding completion rate
• 3 days to full integration

“With Turnkey, we're onboarding around a thousand users per day, which is incredible growth. Plus, we don't have to walk newcomers through the onboarding process. All they need is an email or passkey to get started.” — Nick Nechanicky, Founder and CEO of DexToro

About

DexToro is a DeFi and trading app providing its users with streamlined access to trending tokens on the Solana blockchain. Its team recently launched the app's native token ($DTR), which supports trading fee coverage, platform rewards, and other features through utility-based mechanics.

Challenge

Optimizing the user experience from onboarding to transaction execution

Nick and his team created DexToro to democratize access to DeFi by delivering a trading experience anyone could navigate without friction. The only roadblock to achieving this goal? Overcoming crypto's notoriously complex wallet creation and transaction flows.

For newcomers in the crypto space, managing a private key or logging a seed phrase into a wallet are daunting tasks, often requiring them to seek help halfway through the onboarding process. This friction resulted in DexToro fielding countless customer support inquiries before users even had the chance to execute their first transaction.

The friction didn't stop with onboarding. Once new users had access to their wallets, they often required additional support in navigating fundamental trading aspects, such as bridging digital assets and understanding gas fees. This further drained the DexToro team's bandwidth for other crucial initiatives, such as managing the recent launch of the app's native token.

To optimize the user experience from onboarding to transaction execution, DexToro needed a Wallet as a Service (WaaS) provider that could:

• Simplify onboarding for web3 newcomers: Rather than asking new users to download a browser extension, manage a private key, and store their seed phrase, DexToro aimed to deliver an onboarding experience similar to a modern fintech app.

• Enable seamless transaction flows: DexToro needed a WaaS provider that would abstract the most complex friction points within DeFi and trading, most notably the bridging of digital assets and navigating gas fees across chains.  

• Deliver performant and reliable infrastructure: Like any modern DeFi and trading app, DexToro prioritizes low latency and near 100% uptime to ensure uninterrupted user operations. The ideal WaaS provider would deliver sub-100ms latency for onchain actions and high availability at scale. 

DexToro's Founder and CEO, Nick Nechanicky, already knew that Turnkey's wallet infrastructure powers some of his most frequently used crypto products, and decided to move forward with the partnership. 

“In DeFi, the tech has been there since the late 2010s, but the user experience and onboarding have always been an issue. With Turnkey, we've reached a point where these barriers to entry have finally been solved."

Solution

Turnkey's user-friendly and performant wallet infrastructure

DexToro leveraged Turnkey's wallet infrastructure to conceal the complexities of crypto across its entire user experience.

Throughout the integration process (which only took 3 days), Turnkey worked closely with the DexToro team, conducting pre-emptive security audits while addressing any existing onboarding gaps before rolling out the infrastructure to new users. 

With Turnkey's wallet infrastructure, DexToro users can now create embedded wallets using familiar authentication methods, such as a passkey or email address. By abstracting the need for users to download external wallet apps or manage private keys, DexToro's onboarding experience now feels as streamlined as any web2 app. 

This partnership with Turnkey extends beyond onboarding. DexToro's team also uses Turnkey's wallet infrastructure to support the abstraction of gas fees and simplify the bridging of digital assets. Now, the app's users can seamlessly execute low-latency transactions without micromanaging their tokens beforehand.

To close the user experience loop, DexToro worked with Turnkey to implement email-based wallet recovery flows that eliminate the need for users to manage a seed phrase. This meticulous approach to the user experience not only drove adoption from crypto newcomers, but also resulted in a significant reduction in customer support inquiries. 

Best of all, these UX benefits don’t come at the expense of security. With each DexToro user's private key isolated within Turnkey's secure enclaves, their wallets remain guarded even in the unlikely event of a breach. 

“Seamless user experiences are no longer the exception; they're the standard for any app looking to drive adoption. Turnkey helps us keep up with that standard from onboarding to recovery."

Results

A revitalized user experience that drives adoption while fostering long-term growth

By powering its user experience from end to end, Turnkey became an invisible yet vital component within DexToro's web3 infrastructure.

• 90% reduction in onboarding times
• 99% onboarding completion rate
• 3 days to full integration

Looking forward, DexToro plans to deepen its collaboration with Turnkey, expanding into additional authentication methods (such as SMS and social) that will deliver an even more streamlined user experience.

“Turnkey is the way to go if you’re looking to replace your existing wallet infrastructure. They offer a range of features that go well beyond what was considered industry standard not so long ago.”