Compound's co-founder and CEO Jayson Hobby, CTO Geoffery Hayes, and VP of Product Mykel Pereira announced their resignation to jointly establish a new DeFi protocol, Legend. Legend is a mobile-first decentralized finance protocol designed to attract the next 100 million users to blockchain by optimizing user experience.

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<p>Breaking news from TechFlow on July 12th, Compound's founder and CEO Jayson Hobby announced on Twitter that he, along with CTO Geoffery Hayes and VP of Product Mykel Pereira, have resigned to co-found a new DeFi protocol called Legend. Jayson Hobby stated that Legend's mission is to bring the next 100 million users onto the chain by building the best DeFi interface in the world.</p>
<p>Legend is described as a mobile-first decentralized finance protocol where users can instantly and seamlessly trade, earn, and borrow digital assets without the need for centralized entities. The founding team believes that Legend will address the user experience issues in blockchain and drive the future development of DeFi.</p>
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Compound's executive team resigns to create a new DeFi protocol called Legend.