Legend, the mobile-first DeFi super app backed by Coinbase Ventures and Andreessen Horowitz, is shutting down.
Founder and CEO Jayson Hobby announced the decision on X on May 13.
The wind-down comes after two years of operation. New user onboarding has already been disabled, and existing users are being urged to withdraw their funds before the app goes offline.
Related: Analyst warns a wave of crypto ETF shutdowns is coming
A well-funded bet that didn’t pay off
Founded by Hobby and fellow former Compound Finance executives, Legend set out to solve DeFi’s complexity. The platform integrated lending, borrowing, swapping, and yield generation from major protocols, including Aave, Compound, and Uniswap, into a single…
