Warlord sought to reshape DeFi governance by creating the first vote incentives index token ($WAR) that seamlessly combines Convex and Aura ecosystems, enabling users to maximize governance yields while minimizing complexity and risk – essentially turning the "governance wars" into a passive investment opportunity.
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The Challenge
DeFi governance markets offer significant yield opportunities but require deep technical knowledge, active management, and exposure to volatility. Investors seeking exposure to governance tokens like CVX and AURA faced a complex landscape of locking mechanisms, voting strategies, and reward claim processes across multiple platforms. Additionally, choosing between competing ecosystems (Convex vs. Aura) created portfolio risk, while managing optimal vote delegation and reward compounding demanded constant attention.
Paladin identified an opportunity to leverage their expertise in vote markets to create a simplified solution that would automate these complex processes, reduce volatility through diversification, and open governance yield to less DeFi-native users – all while strengthening the broader ecosystem through strategic voting power.
Key Challenges
• Creating an intuitive interface for a highly complex financial product combining multiple governance systems
• Designing clear visualizations of the multi-layered yield sources and compounding mechanisms
• Balancing detailed information for DeFi power users with simplicity for newer users
• Determining fair redemption rates between assets with fluctuating market values (CVX and AURA)
Process
Stakeholder Collab
• Conducted user interviews with both protocols and voters to understand pain points
• Conducted thorough market studies of alternative solutions
Project Management
• Coordinated asynchronously with regular weekly check-ins
• Maintained design progress ahead of engineering to enable parallel workflows
Challenges & Solutions
• The redemption rate mechanism was heavily debated as CVX and AURA differ in price
• Implemented a 1:1 initial redemption rate with the flexibility to adjust post-launch based on real-world data
The Solution
Warlord Vaults created a yield-bearing index token (WAR) that combines the equity and income portions of governance portfolios across both Convex and Aura ecosystems. Users deposit CVX or AURA to mint WAR tokens at fixed ratios, which are immediately vote-locked into their respective protocols. By staking these WAR tokens, users receive auto-compounded rewards from multiple sources: protocol native yields (auraBAL, cvxFXS), vote incentives from Paladin's delegation service, and converted rewards.
I designed an intuitive dashboard that visualized the complex yield sources and auto-compounding mechanisms while maintaining a simple user flow. The interface focused on three primary actions: minting WAR with CVX/AURA, staking WAR to earn yields, and unstaking/redeeming when desired. To enhance user confidence, I created clear visualizations of the underlying asset composition and transparent redemption process.
Key Features
Simplified Minting Interface
• One-click minting of WAR from CVX or AURA with clear conversion ratios
• Combined mint-and-stake option to streamline yield generation
• Visual representation of underlying assets and their allocation
Redemption System
• Clear visualization of the two-step redemption process
• Queue position and estimated wait time indicators
• Dynamic display of redemption weight based on current system asset ratio
Impact
Warlord Vaults successfully democratized governance yield farming:
• Simplified access to governance markets for less DeFi-native users
• Reduced individual portfolio volatility through diversification
• Created a battle-tested yield strategy for both Paladin DAO and external users
Lessons Learned
• Auto-compounding mechanisms significantly enhance user experience by removing manual steps
• When dealing with locking mechanisms, transparent communication is essential