WEB3

What We Know About Compound Founder’s All-New Project - ‘Legend’

by BSCN

July 12, 2024

chain

With a mission to bring the next 100 million users on-chain, Legend’s ambitions are certainly not limited in scope…

“The time is now: the infrastructure is here, the users are waiting. We’re excited for the road ahead and can’t wait to show you that the future of finance is onchain” ~ @jaysonhobby

 

Compound Finance is a leading DeFi project in the blockchain industry today. According to DefiLlama, it boasts a TVL of more than $2.14 billion, making it one of the largest in the sector today.

 

Now, however, Compound executives led by Jayson Hobby are taking their vast DeFi experience and impressive track record, and applying it to an all new project entirely.

 

Their mission…?

 

“bring the next 100M users onchain by building the world’s best DeFi interface”

 

What We Know So Far…

 

Little is so-far known about the new project, named Legend, only making its first post to X/Twitter on July 10th.

 

However, what we do know is that its core focus is on the user-experience (UX). Many in the blockchain industry point to the complex and inaccessible nature of cryptocurrency applications as perhaps the primary barrier to the mass adoption of Web3 technology… and this is exactly what Legend aims to solve.

 

Points of friction often include…

 

  • Complex seed phrases
  • Cumbersome gas payments
  • Inaccessible UI/UX design.
  • … and many others.

 

We know already that Legend aims to abstract away seed phrases from the end user, as confirmed by Hobby’s own post which reads: “Hello passkeys, goodbye seed phrases”.

 

We also know that, unlike the majority of cryptocurrency projects today, Legend’s development will be ‘mobile-first’ in nature, furthering the project’s narrative of mass appeal.

 

In terms of functionality, all that can be garnered from the project’s current website is that users will be able to…

 

“Trade, earn, and borrow digital assets, instantly and seamlessly, without centralized parties.”

 

To learn more about the project itself, your best bet at the moment is to follow the project and its founder on X/Twitter, and await further updates and announcements. 

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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