BlumBuilt Perpetual Trading from 0→1, attracting 1.2M new traders in 6 months
Blum is a crypto trading app that scaled to 95M+ users. I led the end-to-end design of Perpetual Trading from 0 to 1 — built core trading flows, a scalable design system, and a two-mode UX architecture that made leveraged trading simple for casual users and gave experienced traders the full toolset they expect from a CEX.
BlumBuilt Perpetual Trading from 0→1, attracting 1.2M+ new traders to Blum in 6 months
Blum is a crypto trading app with Spot Trading, Perpetual Trading, and Launchpad, scaled
to 95M+ users. I led the end-to-end design of Perpetual Trading from 0 to 1, building the
core trading flows, UX architecture, and scalable design system for leveraged trading.
Context
Users were buying, selling, launching, and trading tokens inside Blum. Perpetual Trading was
the next step in expanding the trading ecosystem: it brought leveraged trading to Blum and
helped attract traders who already traded perps on CEX platforms.
Problem
For business: Spot Trading and Launchpad had already created real trading activity inside
Blum, but most of it was focused on buying, selling, and launching tokens. Perpetual Trading
could expand the ecosystem into leveraged trading, create a new source of trading volume,
and attract perps traders from CEX platforms.
For users: Most Blum users were not experienced perps traders. They were interested
in leveraged trading, but existing perps products looked complex, stressful, and built for
people who already understood perps mechanics. Users needed a clearer, less intimidating
way to try perps and understand the risks before opening a position.
Goal
barrier for new-to-perps users, give experienced traders a professional trading workspace,
and increase trading activity, volume, and fee revenue.
My role
trading flows, user testing, a scalable design system, and handoff. I built the UX architecture
around two trading experiences: a simpler entry point for new-to-perps users and a trading
workspace for experienced traders.
Shared trading architecture
Spot Trading, then adapted them for Perpetual Trading. This made the transition from
Spot to Perps feel seamless for users and helped the team ship the product two months
ahead of the original plan.
Benchmarking
and Hyperliquid. I analyzed how they structured leverage, margin, liquidation risk, TP/SL, order types, and position management. The goal was to understand which patterns experienced traders expected and where the experience created friction for users who were new to perps.
Blum vs. CEX and on-chain trading tools
Benchmarking insights
1. Most perps products were built for experienced traders
CEX and on-chain perps platforms gave users advanced charts, order types,
leverage controls, liquidation data, and full position management. This worked
well for traders who already understood perps mechanics.
2. First-time perps users faced a high entry barrier
The products I analyzed assumed users already knew how leverage, margin,
liquidation, TP/SL, and open positions worked. For new-to-perps users, this
made the first trade feel complex and risky.
3. Blum needed a simpler way into perps
Blum could not simply copy a CEX-style perps terminal. The product needed
a simpler entry into leveraged trading for new-to-perps users, while still giving experienced traders the speed, market context, and control they expected.
Benchmarking Insights
1. Most perps products were built for experienced traders
CEX and on-chain perps platforms gave users advanced charts, order types, leverage controls, liquidation data, and full position management. This worked well for traders who already understood perps mechanics.
2. First-time perps users faced a high entry barrier
The products I analyzed assumed users already knew how leverage, margin, liquidation, TP/SL, and open positions worked. For new-to-perps users, this made the first trade feel complex and risky.
3. Blum needed a simpler way into perps
Blum could not simply copy a CEX-style perps terminal. The product needed a simpler entry into leveraged trading for new-to-perps users, while still giving experienced traders the speed, market context, and control they expected.
Discovery
To understand how different users approached Perpetual Trading, I ran in-depth interviews
with 8 Blum spot traders who were new to perps and 5 experienced perps traders from CEX platforms, then compared the findings with product metrics. This revealed three key problems:
1. New-to-perps users wanted to try leveraged trading but did not feel confident
They were interested in trading with leverage, but margin, liquidation risk, position size, and TP/SL made the first trade feel stressful.
2. Too much information made the first position hard to understand
New-to-perps users understood basic buy/sell flows, but struggled when risk, leverage, order settings, and position details appeared on the screen at the same time.
3. Experienced traders needed speed and control in one place
They needed market context, a chart, an order form, leverage controls, TP/SL,
open positions, and fast execution without switching between screens.
To understand how different users approached Perpetual Trading, I ran in-depth interviews with 8 Blum spot traders who were new to perps and 5 experienced perps traders from CEX platforms, then compared the findings with product metrics. This revealed three key problems:
1. New-to-perps users wanted to try leveraged trading but did not feel confident
They were interested in trading with leverage, but margin, liquidation risk, position size, and TP/SL made the first trade feel stressful.
2. Too much information made the first position hard to understand
New-to-perps users understood basic buy/sell flows, but struggled when risk, leverage, order settings, and position details appeared on the screen at the same time.
3. Experienced traders needed speed and control in one place
They needed market context, a chart, an order form, leverage controls, TP/SL, open positions, and fast execution without switching between screens.
Strategy
The key insight — Perpetual Trading had to lower the entry barrier for users new
to perps while still working as a professional trading tool for experienced traders.
The main design decision was to split Perpetual Trading into two modes: Lite Mode
for a simpler way to trade perps, and Degen Mode for a professional trading workspace
with market context, risk controls, position management, and fast execution.
Based on this, I formed two hypotheses:
Hypothesis 1
If I build Lite Mode around a simpler first position experience, new-to-perps users
will open their first position more often, complete the setup with less friction, and
return after the first trade.
Hypothesis 2
If I build Degen Mode around the speed, market context, risk controls, position management, and fast execution experienced traders expect, they will trade more actively inside Blum.
Strategy
Hypothesis 1
If I build Lite Mode around a simpler first position experience, new-to-perps users will open their first position more often, complete the setup with less friction, and return after the first trade.
Hypothesis 2
If I build Degen Mode around the speed, market context, risk controls, position management, and fast execution experienced traders expect, they will trade more actively inside Blum.
Success criteria
⁕ Increase conversion to first opened position
⁕ Increase 7-day retention
⁕ Increase repeat trading activity
⁕ Increase average order size
⁕ Increase total trading volume
⁕ Both modes are actively used
⁕ Increase conversion to first opened position
⁕ Increase 7-day retention after the first position
⁕ Increase repeat trading activity
⁕ Increase average order size
⁕ Increase total trading volume
⁕ Both modes are actively used
I evaluated the new experience after each mode reached a minimum threshold of 1,000+
position page sessions and 500+ opened positions, then compared key behavioral metrics across activation, retention, and trading activity.
Solution
The core UX architectural decision was to build two separate trading modes inside one
Perpetual Trading experience. Lite Mode gives new-to-perps users a simpler way to trade
perps without being overwhelmed by complexity. Degen Mode gives experienced traders
speed, market context, and control.
The selected mode persists across sessions, so switching between Lite and Degen
feels natural, like adjusting a preference, not moving to a different product.
The core architectural decision was to build two separate trading modes, each designed around a different level of perp trading experience. Lite mode makes perpetual trading accessible without overwhelming users with complexity. Degen mode gives experienced traders full control. The mode persists across sessions and switching between them feels natural.
Lite Mode
Lite Mode was built for users who wanted a simpler way to trade perps without opening
a full trading terminal. It focused on the essentials: trade direction, amount, margin, expected
risk, and a clear path to open or close a position. This reduced cognitive load while keeping
the key risks of leveraged trading visible before the user confirmed a trade.
Lite Mode was built for users who wanted a simpler way to trade perps without opening a full trading terminal. It focused on the essentials: trade direction, amount, margin, expected risk, and a clear path to open or close a position. This reduced cognitive load while keeping the key risks of leveraged trading visible before the user confirmed a trade.
Margin-based order setup
The trading flow was built around Margin Mode because margin amount was a more familiar starting point for new-to-perps users coming from Spot Trading. Instead of starting with position size, users could begin with the amount they were ready to use, then see how it affected position size, leverage, and liquidation risk before opening a position.
When a high leverage is selected, a risk warning appears inline to protect users from unexpected liquidation.
Order confirmation prevents accidental taps and lets users review key position parameters before placing an order.
Degen Mode
Degen Mode was built for experienced perps traders who needed speed, market context,
and control. It placed the chart, order form, leverage controls, TP/SL, open positions, and fast execution in one workspace. Traders could analyze the market, open or manage a position,
and act without switching between screens or losing context.
Degen Mode was built for experienced perps traders who needed speed, market context, and control. It placed the chart, order form, leverage controls, TP/SL, open positions, and fast execution in one workspace. Traders could analyze the market, open or manage a position, and act without switching between screens or losing context.
Key metrics such as Market price, Last trade, 24h high price, volume and funding always on screen.
Collapse chart to focus on trading, expand to track live price action
Flexible leverage controls
Traders could adjust leverage with a slider or +/- controls. As the value changed, position size
and liquidation price updated instantly, showing the impact on the position before confirmation.
When high leverage was selected, an inline risk warning appeared, keeping the trader informed without interrupting the flow.
Traders could adjust leverage with a slider or +/- controls. As the value changed, position size and liquidation price updated instantly, showing the impact on the position before confirmation. When high leverage was selected, an inline risk warning appeared, keeping the trader informed without interrupting the flow.
Take Profit / Stop Loss
Take Profit and Stop Loss could be set when placing an order or added to an already open position. Once set, the levels appeared directly on the chart and could be adjusted by dragging, without leaving the trading screen. This gave traders a clear way to manage their exit strategy while staying in the market context.
Take Profit and Stop Loss could be set when placing an order or added to an already open position. Once set, the levels appeared directly on the chart and could be adjusted by dragging, without leaving the trading screen. This gave traders a clear way to manage their exit strategy while staying in the market context.
Take Profit, Stop Loss and entry price displayed directly on the chart. Adjust levels without leaving the screen.
Positions, Orders, History
Degen Mode keeps all position management on the trading page. Active positions, open orders, and trade history are all in one place. Traders can review positions, track open orders, and check past trades without leaving the market context. Key actions like adjusting leverage, setting TP/SL, and closing a position are available inline.
Degen Mode keeps all position management on the trading page. Active positions, open orders, and trade history are all in one place. Traders can review positions, track open orders, and check past trades without leaving the market context. Key actions like adjusting leverage, setting TP/SL, and closing a position are available inline.
Web version
The web version extends Perpetual Trading to desktop, bringing the full trading workspace to
a larger screen. A bigger chart, order form, market data, and open positions are visible at once,
giving experienced traders more space for analysis, execution, and position management.
The web version extends Perpetual Trading to desktop, bringing the full trading workspace to a larger screen. A bigger chart, order form, market data, and open positions are visible at once, giving experienced traders more space for analysis, execution, and position management.
UX Testing
To validate the new experience, I tested key perps scenarios with both user groups:
new-to-perps users and experienced traders. I used moderated sessions, unmoderated
tests in Maze and Useberry, Hotjar analysis after rollout, and product metrics to understand
the impact on activation, retention, and trading activity. I focused on three key scenarios:
1. Open a position in Lite Mode
Users set up a perps position through the simplified flow and had
to understand the key risk before confirming.
2. Understand margin, leverage,
and liquidation risk
Users adjusted margin and leverage, then checked how the setup
affected position size, liquidation risk, and TP/SL.
3. Analyze and manage
a position in Degen Mode
Experienced traders analyzed the market, opened or managed a position,
and used inline actions without switching between screens.
UX Validation Results
1. Lite Mode reduced the entry
barrier for new-to-perps users
Users confirmed that Lite Mode made it easier to start trading perps
without feeling overwhelmed by a full trading terminal.
2. Margin-based setup made
position setup easier to understand
Starting with margin amount helped users connect their input with position
size, leverage, and liquidation risk before opening a position.
3. Degen Mode helped
experienced traders act faster
Having the chart, order form, open positions, and key controls in one
workspace helped traders analyze the market and manage positions
without losing context.
4. Experienced traders wanted
deeper chart interaction
Experienced traders asked for deeper chart controls: adjustable levels,
editable parameters, and a clearer way to track position changes directly
on the chart.
Results
I designed Perpetual Trading from 0 to 1, bringing a new leveraged trading instrument
into Blum's ecosystem. The shared trading architecture with Spot helped the team ship
the product two months ahead of schedule.
Perpetuals attracted 1.2M+ new traders in 6 months and became a new source of trading
activity, trading volume, and fee revenue for the business.
544.8K MAU
Average over 6 months
280K DAU
At its peak
1.85M
Perps traders
+1.2M
New traders in 6 months after launch
52.3%
7-day retention after first trade
57% / 43%
Lite / Degen mode usage
544.8K MAU
Average over 6 months
1.85M
Perps traders
280K DAU
At its peak
+1.2M
New traders in 6 months after launch
52.3%
7-day retention after first trade
57% / 43%
Lite / Degen mode usage
Key Learning
A complex trading instrument can be intuitive for a wider audience when the interface is
built around different levels of trading experience. The goal is not to remove functionality,
but to remove barriers: new-to-perps users need a simpler entry point, while experienced
traders need speed, context, and control.
