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

“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.