I’m excited to announce that we’re leading the $15M seed round in @joinlegend to simplify DeFi & help bring the next 100M users onchain.

While DeFi activity has grown, it has also become more complex, & remains too complicated for many people to use. Legend is pointing the way to a simpler user experience & broader adoption. Their first product is an embedded smart contract wallet that allows users to borrow, lend, or swap across chains without manual wallet connections or the risk of interacting with malicious websites.

Legend’s founders @json, @hayesgm, & @mykel all worked together at DeFi pioneer Compound. Geoffrey was an inventor of the Compound protocol, and a co-founder of Compound Labs. Mykel & Jayson worked together on product and design at Compound Labs before Jayson took the reins as CEO.

With their user-facing product expertise and empathy for DeFi developers, the Legend team is perfect to address the UX challenge that’s still hindering DeFi adoption. We’re delighted to support them.

Feels like a deja vu... Stop throwing products at people and think that "UX" is the hurdle! Start with really understanding normal people first. This is defi from the multi-million SF ivory tower, where people have plenty of money.

A normal person on the street does not:
- Want to "swap tokens", they want to spend their salary on groceries, a night out or rent. 
- A normal person is not going to borrow from defi products that are meant for leveraging up token positions, a.k.a. compound where you can only borrow less than your collateral. Normal people take out loans because they don't have the money yet, aka need to gain a certain credit trust based on real world salary to get it from a bank. 
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Experimenting, Fun, DeFi, Consumer Crypto & Ghouls

Once they link my wallet to scan and pay local it's going to be ...on the ⛓️ chain...