# A Magic Bullet for DeFi

*Author: Bankless*
*Published: Nov 7, 2023*
*Source: https://www.bankless.com/magic-bullet-defi-ux*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/11/MOD-NEWSLETTER-HEADERS--4--5.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=dont-get-lost-in-the-sauce&email=true)

  

    A Magic Bullet for DeFi

  
  

  
  Published on Nov 7, 2023

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

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[**Sponsor: Kraken**](https://www.bankless.com/sponsor/kraken-1682978636?ref=a-magic-bullet-for-defi-ux&email=true) — Sign up for an account and see what crypto can be.

[Sign up for Kraken](https://www.bankless.com/sponsor/kraken-1682978636?ref=a-magic-bullet-for-defi-ux&email=true)

.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
    Fed Wants Stablecoin Rules
  
  

  

 

![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/11/Frame-50445--12-.png)- 🪙 **Fed wants stablecoin rules**. The Fed's Michal Barr [wants guidelines](https://x.com/BloombergTV/status/1721911400270856441?s=20) to help enable and regulate stablecoin innovation. Circle's CEO [wants it to happen](https://x.com/jerallaire/status/1721927872300855783?s=20).
- **🐙 Kraken building L2? **Kraken is r[eportedly in talks with Polygon and Matter Labs](https://twitter.com/coindesk/status/1721698834554716270?s=46&t=dmRhP54bJmHi0Ppb8BT30Q) to build its own layer-2 network. Watch out, Base. 
- **🙅‍♂️ SEC hiring struggles. **The SEC admits it's struggling to hire crypto experts because of [rules that require employees to divest](https://x.com/jeffjohnroberts/status/1721543698784419917?s=20).

.  .  .

 
  
    
      
      TODAY IN MARKETS
    
    
  
  
    
    Cooling Demand
  
  

  

 
 

**📈** **Commodity Slump:** Oil prices broke August lows and [are down 4% amid concerns of slowing demand](https://twitter.com/YahooFinance/status/1721921625279303721?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1721921625279303721%7Ctwgr%5E27289ad77c4a809a9ada7e8f06a4925e012294df%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bankless.com%2Ftim-1107). Can crypto outperform if the economy continues to worsen?

Prices as of 4pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $1.34T
       

  
    
    ↗ 1.0%
    
  

   
    
    ↗ 4.7%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $35,612
       

  
    
    ↗ 1.8%
    
  

   
    
    ↗ 3.0%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $1,895
       

  
    
    ↗ 0.3%
    
  

   
    
    ↗ 4.8%
    
  

        

    

[Unlock Today's Full Market Analysis](https://www.bankless.com/tim-1107)

.  .  .

 
  
    

    ANALYSIS

  
  
    
    A Magic Bullet for DeFi UX
  
  
  
   
     
     Guest Contributor: 
     
     [
       
    Arjun Chand
     
    ](https://twitter.com/arjunnchand)
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/11/image--14-.png)](https://www.bankless.com/a-magic-bullet-for-defi-ux)Let’s face it: **DeFi UX is broken. **

Steep learning curves, long waiting times, and too many failed transactions make interacting with applications in DeFi a frustrating experience. *But what if there was a design shift that could simplify this process? *

**Read all of the *free* alpha on our website*** *👇

[Read Full Analysis](https://www.bankless.com/a-magic-bullet-for-defi-ux)
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*\* Bankless team holds crypto assets and advise crypto projects. [Matter Labs](https://www.bankless.com/matter-labs) is included in our disclosures. See our complete investment disclosures [here](https://www.bankless.com/disclosures)*