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By Legasi
Develops on-chain Lombard credit enabling individuals and businesses to borrow fiat against digital assets
Legasi introduces institutional-grade Lombard lending to the Stellar network, allowing users to access long-term fiat credit lines fully collateralized by digital assets held in regulated custody (via Fireblocks).
Built on Soroban, Legasi establishes compliant on-chain credit rails and channels institutional liquidity directly into Stellar’s financial layer.
On-chain credit primitives on Soroban
Legasi deploys a suite of smart contracts on Soroban, creating Stellar’s first institutional-grade credit layer.
This foundation unlocks programmable credit applications—from overcollateralized loans to future DeFi credit markets—natively within the Stellar ecosystem.
Institutional liquidity via fiat anchors
By integrating regulated on/off-ramps and stablecoin issuers (Anchors, Circle), Legasi funnels institutional capital into Stellar-native liquidity pools.
This deepens USDC/EURC markets and expands Stellar’s capacity for real-world, yield-bearing credit instruments.
Bridging fiat and on-chain credit flows
Leveraging Stellar SEP-10/12/24 standards, Legasi synchronizes authentication, KYC, and fiat settlement between banking rails and blockchain infrastructure.
Borrowers can seamlessly move between stablecoins and fiat (EUR/USD) while maintaining compliance and liquidity efficiency.
Institutional liquidity pools
Legasi will deploy institutional liquidity pools funded by credit facilities from regulated partners, enabling compliant yield generation within Stellar’s DeFi ecosystem.
This bridges traditional finance capital with on-chain credit demand.
Open-source and ecosystem impact
All Soroban smart contracts — including Loans, Liquidation, Oracle, Policy, KYC Registry, and Liquidity Pool modules — will be open-sourced and reusable by other builders.
This approach expands Stellar’s DeFi infrastructure, reduces barriers to compliant credit innovation, and encourages ecosystem-wide reuse and collaboration.
Yes
$93.7K
Institutional Liquidity Activation:
Onboard 5 institutional liquidity providers (LPs) and deploy over $200M in credit facilities within the first year post-launch.
Borrower Adoption:
Facilitate 1,000 active borrower positions across private, corporate, and institutional segments — representing $75M in loans financed and backed by $185M+ in collateralized digital assets.
Protocol Efficiency:
Maintain liquidation recovery above 98% and a default rate below 0.5%, meeting institutional-grade risk management standards.
On-Chain Activity:
Process 10,000+ Soroban transactions (loan creation, repayment, liquidation intents) within the first six months following mainnet launch.
Fiat On/Off-Ramp Utilization:
Enable cross-border fiat settlements in EUR and USD through integrated Stellar anchors and regulated EMIs, ensuring smooth movement between fiat and digital assets.
Ecosystem Impact
Institutional Adoption of Stellar:
Position Stellar as the first blockchain ecosystem to offer a compliant, real-world Lombard credit infrastructure, bridging traditional finance and digital assets.
New Credit Primitive for Soroban:
Deliver a reusable, open-source suite of Soroban smart contracts — including Loans, Liquidation, Oracle, Policy, KYC Registry, and Liquidity Pool modules — forming the foundation for future credit and RWA-based protocols on Stellar.
Liquidity Expansion:
Drive $75M+ in USDC/EURC liquidity inflows through regulated fiat anchors, significantly deepening Stellar’s native stablecoin markets.
RWA Enablement:
Provide the credit infrastructure that makes tokenized RWAs bankable on-chain, extending Stellar’s mission of real-world interoperability.
Compliance & Custody Integration:
Demonstrate seamless collaboration between regulated custodians (Fireblocks), anchors, and on-chain credit logic, setting a new benchmark for institutional transparency and regulatory alignment.
Long-Term Vision:
Establish Stellar as a trusted institutional DeFi hub, where compliant credit flows coexist with open, composable smart contracts — unlocking sustainable yield and responsible financial access for individuals and enterprises globally.
Legasi’s go-to-market strategy will combine institutional liquidity onboarding, borrower acquisition, and deep Stellar ecosystem integration to drive adoption and capital inflows across the network.
Institutional Liquidity & Credit Facility Partnership
Legasi has secured an institutional commitment in principle for a $100M credit facility from a regulated partner based in the British Virgin Islands and the United Arab Emirates.
This facility will fund the first institutional liquidity pools deployed through Stellar, marking a major milestone in bridging traditional credit capital into on-chain finance.
During the first six months post-launch, our objectives are to:
Onboard 5–10 institutional liquidity providers (LPs)
Deploy up to $50M from the initial facility
Gradually expand total credit capacity through additional institutional partnerships
All collateral and liquidity assets will be secured via Fireblocks’ institutional-grade custody, enabling native Bitcoin support within Stellar-based lending operations.
Borrower Acquisition Strategy
We will leverage our existing client network — including private investors, family offices, and crypto-native corporates — developed through our brokerage activity, to onboard early borrowers at launch.
Additionally, we will collaborate with law firms and compliance partners to onboard verified and compliant borrowers efficiently, ensuring a seamless user journey from KYC to loan execution.
Stellar Ecosystem Integration
Legasi will integrate USDC and EURC liquidity pools on Stellar and partner with regulated EMIs and Stellar anchors to enable cross-border fiat credit settlement.
Custody for all digital and fiat assets will be managed through Fireblocks, ensuring institutional security standards across the entire credit lifecycle.
Cross-Chain Liquidity Bridge
Leveraging our existing presence on Ethereum and Solana, we will deploy interoperable liquidity adapters to attract both lenders and borrowers from other ecosystems.
This cross-chain bridge will channel institutional capital directly into Stellar’s compliant credit infrastructure, strengthening its liquidity depth and ecosystem connectivity.
Ecosystem & Developer Growth
To accelerate adoption, we will:
Expand community engagement on LinkedIn and X
Partner with digital asset associations and ecosystem leaders
Release API and SDK toolkits to allow RWA tokenization platforms and fintechs to integrate Legasi’s credit layer directly into their products
Positioning
Through institutional partnerships, Fireblocks-secured custody, and compliant on-chain credit architecture, Legasi positions itself as the reference credit layer for digital assets on Stellar — accelerating ecosystem adoption, liquidity inflows, and real-world credit use cases.
Before building the Legasi protocol, we operated as brokers for crypto-backed Lombard loans in collaboration with regulated credit institutions based in Luxembourg and Switzerland.
This experience validated a strong market appetite for compliant, institutional-grade credit products backed by digital assets — confirming both demand and operational feasibility.
Client & Revenue Metrics
350+ inbound client calls generated through a targeted LinkedIn outreach strategy
22 signed clients, including 20 private investors, 1 corporate, and 1 institutional client (one of Europe’s largest centralized exchanges)
€8M in cumulative loan requests, representing €20M+ in potential assets under custody (AUM/TVL equivalent)
€200K+ in active commercial pipeline
4 completed loans totaling €700K, secured by €1.75M in collateral
€30K in revenue generated to date
These figures demonstrate not only traction but also strong conversion and validation from both retail and institutional borrowers.
Community & Market Engagement
Since March 2025, Legasi’s communication has focused primarily on LinkedIn and X (Twitter).
With only 15 posts, we have achieved:
150,000+ impressions
1,700+ engagements
350+ inbound requests leading to 300+ qualified leads
Our LinkedIn page now counts 500+ followers, and Legasi was featured on BFM Crypto, one of France’s leading business channels — significantly reinforcing our visibility and credibility.
Institutional Partnerships
Legasi recently signed a partnership with a regulated credit institution operating in the British Virgin Islands and the United Arab Emirates.
An agreement in principle has been secured for a $100M credit facility, to be deployed in financing the first institutional and private borrowers through the Legasi protocol.
This milestone confirms institutional confidence in our compliance-first model.
Digital Presence
Our website has attracted 8,500+ visitors and 15,750+ page views over the past year, reflecting growing organic visibility and sustained interest in the digital asset credit space.
Product & Transition to On-Chain Model
Our MVP is live at https://legasixstellar.vercel.app/.
We are now transitioning from a brokerage-based model to a fully on-chain credit infrastructure, enabling compliant, transparent, and automated Lombard lending through Soroban smart contracts.
Future Growth Targets
By end of 2025, we aim to:
Triple our active client base
Reach 10 completed loans totaling €2M in financing
Maintain €5M in collateral under management
Generate approximately €85K in cumulative revenue
Supporting Evidence
All traction metrics are supported by verifiable HubSpot and Calendly data tracking inbound interest, client conversion, and engagement funnels.
Duration: November 20, 2025 – February 1, 2026
Total Budget: $41,050
**Goal:**Develop the core protocol components and demonstrate full lending logic using mock data.
Deliverable 1 – Soroban Core Contracts
Description:
Develop and deploy the Loans, LPPool, PolicyRegistry, and LiquidationManager smart contracts on the Soroban localnet. This includes implementing event emissions and inter-contract calls.
Completion Criteria:
All contracts successfully deploy and interact via CLI and integration tests. Full loan creation and liquidation logic operational in a simulated environment.
Estimated Completion Date: January 2, 2026
Budget: $23,240
Deliverable 2 – Oracle & Executor Simulation
Description:
Implement a mock oracle adapter (BTC/USD, USDC/USD) and prototype an off-chain executor for liquidation receipts to validate core risk logic and price sensitivity.
Completion Criteria:
Mock price updates successfully trigger liquidations, and receipts are acknowledged on-chain. The full liquidation flow runs successfully in simulation.
Estimated Completion Date: January 16, 2026
Budget: $7,940
Deliverable 3 – Backend API Integration
Description:
Build a lightweight backend API to manage borrower positions (borrow, repay, liquidation) and connect them with Soroban contracts.
Completion Criteria:
End-to-end user flow (borrow / repay / liquidation trigger) validated locally with no execution errors.
Estimated Completion Date: February 1, 2026
Budget: $9,870
Duration: February 2, 2026 – March 12, 2026
Total Budget: $34,100
Goal: Deploy the system on the Stellar testnet, integrate live oracle feeds and SEP standards, and validate interoperability with external fiat anchors.
Deliverable 1 – Testnet Deployment
Description:
Deploy the complete smart contract suite to the Stellar testnet with configured governance and admin roles.
Completion Criteria:
All modules are successfully deployed and callable via testnet RPC, verified through end-to-end test transactions.
Estimated Completion Date: February 11, 2026
Budget: $8,890
Deliverable 2 – Oracle & Anchor Integrations
Description:
Integrate DIA/Reflector oracles and implement SEP-10 (authentication), SEP-12 (KYC), SEP-24 (fiat off-ramp), and fiat on-ramp connections (via anchors / Circle Mint API).
Completion Criteria:
A borrower completes a verified end-to-end flow — KYC → loan → fiat transfer → repayment — on testnet using live oracle data.
Estimated Completion Date: March 4, 2026
Budget: $18,740
Deliverable 3 – System Validation
Description:
Run scenario tests covering interest accrual, liquidation thresholds, and anchor synchronization, and fine-tune contract parameters for stability and accuracy.
Completion Criteria:
All tests pass under expected network conditions; performance metrics are logged, analyzed, and verified.
Estimated Completion Date: March 12, 2026
Budget: $6,470
Duration: March 13, 2026 – April 10, 2026
Total Budget: $18,510
Goal: Launch Legasi on the Stellar mainnet with stable, production-ready smart contracts and full backend and frontend integration.
Deliverable 1 – Mainnet Contract Deployment
Description:
Deploy the final Soroban smart contracts to the Stellar mainnet with updated parameters and verified governance configurations.
Completion Criteria:
All modules are successfully deployed on mainnet, and core user interactions — borrow, repay, and partial liquidation — execute without errors.
Estimated Completion Date: March 23, 2026
Budget: $8,470
Deliverable 2 – Mainnet Backend Integration
Description:
Connect the backend infrastructure to mainnet contracts, enable live oracle data feeds, and synchronize custody records.
Completion Criteria:
Stable live operations maintained for 7 consecutive days, with no desynchronization or transaction failures.
Estimated Completion Date: April 2, 2026
Budget: $5,960
Deliverable 3 – Mainnet Validation & Stress Testing
Description:
Perform mainnet load testing and transaction validation under varying network conditions to assess scalability, stability, and security.
Completion Criteria:
Performance benchmarks (throughput, latency) recorded and verified to meet predefined thresholds.
Estimated Completion Date: April 10, 2026
Budget: $4,080
We are two co-founders active in the crypto space for over 7 years, combining strong expertise in finance, blockchain, and product development.
Valentin Pouzolles (CEO) - LinkedIn
8+ years in finance and startups, former CFO supporting high-growth tech companies.
5 years at MesDocteurs :
3 years at PayinTech :
Certified Blockchain Product Manager by Blockchain Business School
Arthur Gaspard (CTO) - LinkedIn - GitHub
5+ years in data engineering / key account management.
Full-stack developer experienced in building and scaling complex systems for data-driven products.
Led architecture and product delivery for multiple enterprise-grade projects.
Ecole 42 Paris alumni (2016-2018)
Master II - International Management from EDC Paris Business School.
Certified Blockchain Lead Developer by Blockchain Business School.
Together, we are building institutional-grade on-chain credit infrastructure, supported by a network of advisors in legal, compliance, and institutional finance to accelerate development and adoption. Legasi is incubated at 42’s startup incubator within Station F, the world’s largest startup campus in Paris.
Arthur Gaspard
No other submissions.