---
tags: Raid
---


# Liquity Design Sprint

Based on the available [dev frontend](https://devui.liquity.org/) and initial consultation the best approach would be a full specification and potential branding/content implementation.

### Goal

The aim of the Design Sprint is to map out the user journeys and ideal experiences through Liquity to provide an exact build specification and proposal.

### Liquity Elevator Pitch

Liquity allows Ether holders to obtain maximum liquidity against their collateral without paying interest.

### Participants

- Scott (PM, Raid Guild)
- Marko (Designer, Raid Guild)
- Robert (Liquity)
- Ashleigh (Liquity)
- Bojan (Liquity)
- Dani (Liquity)

### Steps

1. Define and finalize user stories
* What does the user [need] to do?
* Needs, Wants & Desires
2. Design user flows
* When do these interactions fit in the journey?
3. Determine components to be built
* Can we leverage out of the box components/frameworks?
* Are there any existing technical requirements in place?
4. _Prototype?_

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## User Stories

As a **new user**, I want to be able to:
* Connect with a web3 wallet
* Lock ETH
* Borrow LQTY against my ETH
* See the applicable loan issuance fee with a link to an explainer article
* See my collateral ratio
* See my liquidation price
* See and understand the concept of “virtual debt” which is added to my actual debt and is used to fund the gas compensation paid to liquidators
* Understand that the entire system is non-custodial and trustless
* See basic system stats and whether the system is in normal or recovery mode
* Read about the protocol features
* Read the protocol documentation
* Read about the team
* Glossary or explainer links or tooltips for all potentially unclear terms

As a **borrower**, I want to be able to:
* Pay back or increase my LQTY debt
* Top up or withdraw my ETH
* Do combinations of the operations above at the same time
* Know whether I'm at risk of being hit by a liquidation
* Know whether I'm at risk of being hit by a redemption
* My trove being marked in some way in the list of riskiest troves
* Understand that some of my operations will be restricted during Recovery mode
* Understand that when the Stability pool is emptied, I may receive collateral and debts shares from liquidated troves
* See what percentage of my collateral and debt is due to redistributions
* See a history of my trove operations

As a **LQTY holder**, I want to be able to:
* Lock LQTY to provide stability
* Withdraw my stability deposit (including my pending ETH gain)
* Withdraw my ETH gain
* Withdraw my GT reward (tbd)
* Redeem my LQTY for ETH, in particular if it trades below USD 1
* See the applicable redemption fee
* See a history of my deposit operations

As a **stability provider (or as any user)**, I want to be able to:
* Find undercollateralized troves (<110% collateral ratio in normal mode, up to 150% in recovery mode)
* Liquidate undercollateralized troves individually
* Liquidate a specified batch of (large) undercollateralized troves
* Liquidate a specified number of undercollateralized troves in ascending order of collateral ratio, starting from the trove with the lowest collateral ratio
* Know the applicable gas compensation (in ETH) that I will get for liquidating troves
* As a prospective stability provider, see how much I can expect to earn in the future (based on historic data) and see if there are instant arbitrage gain opportunities
* As a stability provider, see how much you have in ETH vs. LQTY and how much you’ve earned in GT rewards (tbd)

As an **admin**, I want to be able to:
* Nothing, there is no admin!
* However, the system should steer itself away from ever reaching Recovery mode (i.e. a total collateraliztion ratio < 150%), e.g. by encouraging users to keep their individual collateral ratios above 150%

As an **front end operator**, I want to be able to:
* Earn GT rewards based on the kick back rate and the amount of stability deposits / loans (tbd) transacted through my front end
* Set a kick back rate and thus determine the GT reward share that goes to the end user
* Show my brand to the user
* Customize the front end template
* Make sure that the user does not get scammed by fake front ends
* Show legal disclaimers to the user

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### User Flows

_WIP_




### Open questions
* [L] Which wallets should we support?
* Web3Modal has a wide array of support
https://github.com/Web3Modal/web3modal
* [L] At which point does the user have to connect his MetaMask wallet?
* We'll want to encourage the user to take action prior to checking for a wallet connection. Once the user is attempting engagement, they'll be more likely to succeed with
* [L] Which user group will receive the GT rewards?
* Might be worth a conversation with DAO Shop as to the best way to implement these rewards.
* [RG] Can user open multiple Troves? Can user have multiple positions in Stability Pool?
* An ETH address can only have one trove and one deposit/position in the Stability Pool.
* [RG] When do redistributions occur? With each liquidation? e.g. "See what percentage of my collateral and debt is due to redistributions"

### To avoid
* Complex customizable toolkits (lego boxes) for front end operators. We really just want to provide a template (with minimal customalizability like adding a brand)
* Push or email notifications to users
* Complex user workflows like combining borrowing with stability deposits and GT token staking (this should not exclude gentle nudges such as offering new borrowers an easy way to deposit some of the borrowed amount in the stability pool)
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## Kick-off Agenda

1. Goals & Objectives
2. User Stories & Flows
3. Implementation Details
1. Trove Management vs Onboarding
- Multicall Proxy
3. Frontend Operators
- Frontend Proxy
- Stats collection
- Kick back
4. Growth Token
5. Content Page(s)
1. Home Page/Features/Team/About

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## UI Components (to be built)

*To be completed with design sprint*