Legasi

Legasi is a crypto-backed credit platform bridging institutional-grade lending with on-chain infrastructure, built around the principle that users should be able to access liquidity from their digital assets without selling them. Founded in late 2023 in France by Valentin Pouzolles and Arthur Gaspard — two alumni of the Blockchain Business School who met during a cohort project — Legasi has grown from a niche estate-planning tool into a full-stack lending protocol with a particular focus on Solana and AI agents.

The Core Problem

Cryptocurrency holders face a persistent dilemma when they need liquidity: selling their assets triggers capital gains tax, surrenders market upside, and is often irreversible if prices subsequently rise. Legasi's answer is the crypto Lombard loan — a well-established technique in private banking now being brought on-chain. Borrowers deposit digital assets as collateral and receive fiat currency (USD or EUR) deposited directly into their bank account. The assets stay under management, the market exposure is preserved, and the taxable event is deferred as long as the position remains open.

Banking Solutions Layer

The first product layer is an off-chain brokerage service connecting users with regulated financial institutions in Luxembourg and Switzerland that offer crypto-backed Lombard credit facilities. Legasi acts as the interface, handling client onboarding and structuring the loan arrangements with its partner banks. The process requires no credit check and is designed for a simpler approval experience than traditional bank lending. Supported assets include the major cryptocurrencies. Loan proceeds arrive in the borrower's bank account in EUR or USD.

The target markets include individual investors who want to finance real estate purchases, business capital needs, or lifestyle expenses without liquidating positions, as well as corporate treasury departments holding digital assets as reserves.

On-Chain Credit Infrastructure

The second, and architecturally more ambitious, product layer is an on-chain credit protocol built initially on Solana. This system is designed to act as the lending backbone for a new class of economic participant: autonomous AI agents.

Legasi's Solana implementation is built using the Anchor framework and settles in Circle's native USDC stablecoin. Pyth Network oracles supply real-time price feeds for collateral valuation. The protocol comprises six on-chain programs covering lending, liquidations, flash loans, leveraged positions, and liquidity provider vault mechanics. As of mid-2025, the programs are live on Solana Devnet.

The defining design decision is treating AI agents as first-class borrowers. Rather than assuming human intervention in loan initiation and repayment, the protocol is built for programmatic borrowing: agents can autonomously draw credit, pay for external services, and repay within predefined parameters without requiring human sign-off on each transaction.

Agent Credit Features

On-Chain Reputation System: Legasi tracks repayment history on-chain to generate a credit score for each borrower address. Agents that consistently repay on time accumulate reputation that unlocks improved loan-to-value ratios — up to a 5% LTV bonus above baseline. This creates an on-chain financial identity over time, comparable to how a credit bureau score works in traditional finance but transparent and permissionless.

x402 Payment Integration: The protocol implements the HTTP 402 Payment Required standard, allowing an AI agent calling an external API to automatically detect that payment is required, draw from its Legasi credit line, and settle the payment on-chain without human involvement. This positions Legasi as infrastructure for a world where AI agents pay for LLM inference, data feeds, web scraping, and execution services using borrowed on-chain capital.

Flash Loans: The protocol includes zero-collateral flash loan functionality for within-transaction use cases, charged at a 0.09% fee. These are available for arbitrage, liquidations, and collateral swaps where the full amount is repaid within a single atomic transaction.

Gradual Auto-Deleveraging: Rather than the sudden full-liquidation model common in most DeFi lending protocols, Legasi uses a staged de-risking mechanism. When a position approaches liquidation thresholds, the system gradually unwinds collateral positions to bring the loan back to a safe ratio, reducing the shock to both borrowers and liquidity providers.

Multi-Chain Expansion

While Solana is the primary on-chain deployment target, Legasi has ported its protocol to EVM-compatible chains. The EVM version, accessible at evm.legasi.io, runs on SKALE (selected for its instant finality and gas-free transactions) and Base Sepolia testnet. The GitHub organization at github.com/legasicrypto also contains experimental repositories exploring agent payment rails on Stellar and XRP Ledger, indicating a chain-agnostic infrastructure ambition across payment and credit verticals.

Hackathon Recognition and Backing

Legasi placed third in the RWA (Real World Assets) track at Colosseum's Cypherpunk Hackathon, described by the organizers as "a compliant credit layer using Lombard loans." The Cypherpunk hackathon was the largest crypto hackathon on record at the time, drawing more than 9,000 participants and 1,576 final submissions. Legasi's recognition in the RWA category placed their institutional credit infrastructure work alongside some of the most prominent real-world-asset projects in the Solana ecosystem.

The team has received backing from BPI (Banque Publique d'Investissement), France's government-backed public investment bank, which provides grants and support to high-potential French technology startups. Legasi has also received a grant from the Solana Foundation in recognition of their on-chain infrastructure work.

Team

Valentin Pouzolles (CEO and Co-founder) brings a finance background, having previously served as CFO for tech startups in France and participated in fundraising rounds totaling over 20 million euros. He holds a Master's degree in Finance from Paris 1 Pantheon-Sorbonne University and is a certified blockchain product manager.

Arthur Gaspard (CTO and Co-founder) has been active in crypto since 2017 and brings deep technical experience in software architecture and smart contract development, with a background in data engineering at tech startups. He leads Legasi's protocol engineering and multi-chain expansion work.

Token and Audit Status

Legasi has not issued a protocol token. The on-chain programs have not disclosed a public security audit; the Solana Devnet deployment stage indicates the protocol is still in active development and pre-mainnet. Users and liquidity providers should treat the current on-chain infrastructure as experimental until a mainnet launch and audit are completed.

Solana Fit

Legasi sits at the intersection of two major trends on Solana: the mainstreaming of real-world asset credit and the emergence of AI agent economies. The choice of Solana as the primary on-chain layer reflects the network's high throughput and low transaction costs, both of which matter for a credit protocol where agents may be executing many small borrow-and-repay cycles across automated workflows. The Pyth integration provides the reliable, low-latency price data needed for safe collateral management at speed. With a Solana Foundation grant, hackathon recognition in the RWA vertical, and a live Devnet deployment, Legasi is positioning itself as foundational credit infrastructure for both human borrowers and the next generation of autonomous economic agents on Solana.