Obvious is a mobile-only smart contract wallet that enables users to explore the world of crypto with a superior experience. With Obvious Smart Wallet, users can pay gas in a token of their choice and approve/sign transactions with a single click across multiple chains. Here are some more features of the app:

Smart Asset Rollup: Obvious shows all the different variants of your tokens in different forms rolled up together in one clean neat view.

Cross-chain Transactions: Obvious has a clean 1 click transaction interface on its app. You can send, receive, swap, cross-chain swap, and bridge natively within the app across 17 chains including BOBA and track its progress.

Web3 Native Address Book: Obvious has its own address book that you can use to store web3 addresses and it automatically adds the address you interact with

Notifications: Obvious notifies you of every activity that happens in your wallet and also lets you track the progress of your transactions

Seedless Recovery: Obvious also has seedless recovery which is a superior backup and recovery method that lets you split your seed phrases into 3 parts storing them in 3 places for better security.

dApp Connect: You can connect with dApps using WalletConnect seamlessly across your wallets. Multi-Wallet Connect: You can connect as many wallets as you want using Multi-wallet Connect to your Obvious app.

Problem Statement 1 (Activation): The activation process of Obvious lacks efficiency and user engagement, resulting in a low conversion rate and limited user adoption. Come up with a plan to address the above challenges, with an aim to enhance the activation experience of Obvious, increasing conversion rates, improving user engagement, reducing onboarding time, and boosting user adoption.

Data points:

1. Activation: Defined as the act of creating a wallet, funding it(no min value), and completing at least one transaction.
2. Conversion Rate: The current conversion rate from app download to successful user onboarding of 15% is below industry standards of 30%
3. User Engagement: The existing onboarding process fails to captivate users, leading to low user engagement and increased drop-off rates during the activation flow. The average drop-off rate is estimated to be approximately 40%.
4. Time to activation: The current activation process is time-consuming, taking users an average of 10 minutes to complete all the required steps.
5. User Adoption: Obvious aims to achieve a high user adoption rate, with the target being at least 50% of successfully activated users performing a second transaction within the first week.

Come up with a plan to address the above challenges, with an aim to enhance the activation experience of Obvious, increasing conversion rates, improving user engagement, reducing onboarding time, and boosting user adoption.

Problem Statement 2 (Referrals): Obvious has a referral feature that is underutilized, with a low number of users actively referring their friends. By introducing an incentivized referral program within a limited budget, we aim to significantly improve user acquisition by motivating more users to refer their friends and encouraging successful onboarding and engagement for both the referrer and the referee. Go through the current referral program of Obvious and find ways to either improve the existing referral plan or create a new referral plan to help spread word of mouth.