A new seed funding round has been announced for the DeFi project Legend, which has raised $15 million. The funding round is led by a16z and Coinbase, with the aim of simplifying decentralized finance and attracting the next 100 million users to blockchain technology. The project is developed by former executives from Compound, a well-known lending platform in the DeFi space. Legend is positioned as an integrated DeFi super application that focuses on account abstraction for seamless wallet interactions, enhanced security through PassKeys, and faster, cheaper transactions using Layer 2 solutions. The 2024 State of Crypto report estimates that there are currently between 30 to 60 million monthly active crypto users, indicating a growing interest in DeFi despite its challenges.