PANews reported on May 13th that Legend CEO Jayson Hobby announced on the X platform that the company has decided to shut down after two years of operation. Legend aimed to make on-chain finance as simple as traditional applications. While the product found a certain audience, it failed to achieve a scale conducive to long-term sustainable development. Hobby stated that mainstream users don't care whether a product is on-chain; they only care about better returns, faster payments, and more control over their funds. The winning product is not one that better explains crypto, but one that completely hides the underlying cryptographic layer, allowing users to only experience the benefits. The Legend application will remain operational for the next 60 days and will officially shut down on July 12th. Users must withdraw their funds before then.