Execeutive Summary
Degen Forest set out to give everyday users a virtual bank experience for crypto, where buying, storing, staking, and transferring digital assets is as simple as checking a bank balance. Partnering with Decrypted Labs, they built and launched a multi-chain wallet and DAO that integrates fiat-to-crypto rails and enterprise-grade security.
10,000+ downloads on iOS and Android in the first launch cycle
$3 million+ raised in early funding rounds
8+ blockchain integrations and support for 200+ cryptocurrencies
Bank of Brazil fiat on/off-ramp to move seamlessly between cash and crypto
About Degen Forest
Industry
Fintech / Web3
Objective
Create a bank-grade crypto wallet and DAO with seamless fiat ↔ crypto transfers
About
Degen Forest is a decentralized autonomous organization (DAO) and mobile cryptocurrency wallet designed to let users buy, store, lend, stake, and transfer tokens through a single, intuitive interface, bridging traditional banking and decentralized finance so that anyone—from first-time crypto users to seasoned investors—can manage digital assets with ease.
Challenges and Objectives
Crypto adoption was accelerating, but the user experience remained fragmented. Degen Forest wanted to eliminate the friction between traditional banking and decentralized finance.
Disjointed user journeys
Separate apps for buying, staking, and transferring assets.
Fiat bottlenecks
Slow, unreliable conversions between cash and crypto.
Onboarding drop-offs
KYC and funding steps discouraged first-time users.
Challenges in Market Entry Due to Complex Fiat-to-Crypto Integration
Degen Forest faced a challenge with delayed market entry due to the complexity and time required for fiat-to-crypto integration.
The Solution
Users faced fragmented experiences with separate apps for buying, staking, and transferring assets, slow fiat-to-crypto conversions, and high onboarding drop-offs due to complex KYC and funding steps.
Complex integration of multiple blockchains and fiat-to-crypto conversion led to delays in launching Degen Forest’s platform, preventing them from entering the market quickly.
Ensuring compliance with KYC/AML standards and implementing robust security measures, including non-custodial keys and fraud monitoring, added complexity and extended development time.
Results
The Impact
