The wave of cryptocurrency bear market closures is coming! Another wallet product has fallen Legend, an on chain financial application, announced that it will gradually shut down its company and product services. Legend was founded by former Compound CEO Jayson Hobby and received $15 million in funding from a16z and Coinbase Ventures in early 2025. Its starting point was to create a more "practical" self managed wallet than MetaMask and others, encapsulating cross chain exchange, earnings, and other functions behind a simple interface. The team stated that Legend initially aimed to make DeFi's cross chain redemption, revenue acquisition, and payment functions more accessible to mainstream users through a simpler product interface. Although the product has gained a group of real users, the growth scale has not reached the level required for long-term sustainable operation, so closing the business is the most appropriate decision for the team and investors. Legend stated that its biggest lesson learned is that mainstream users are not concerned about whether the product is "on chain", they are more focused on revenue, faster payment experience, and higher control over funds. The team believes that the truly successful product is not about explaining encryption technology to users, but about completely hiding it behind the experience.