Market Statement

The cryptocurrency market consistently experiences substantial financial losses due to forgotten passwords, lost private keys, and inadequate asset inheritance planning. Legacy Protocol addresses these vulnerabilities by providing secure, automated inheritance solutions, protecting investors and enhancing overall market confidence.

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Instances of substantial loss:

• Lost Crypto Assets: Approximately 20% of all Bitcoin (around 3.79 million BTC) is permanently lost, representing a total value of nearly $190 billion at current market prices.

• Dormant Bitcoin Holdings: Roughly 28% of Bitcoins in circulation have been inactive for over five years, signaling either permanent loss or long-term holding.

• Security Breaches and Hacks: Crypto thefts reached $3 billion in losses in 2022 alone, across 125 significant hacking incidents, including state-linked actors.

• Notable Incidents:

  • Mt. Gox (2014): Lost approximately 750,000 BTC (7% of total supply at the time).

  • QuadrigaCX (2019): Lost access to C$250 million (US$190 million) in crypto assets after the death of its CEO.

Impact of These Losses

• Reduced Circulation: Lost cryptocurrencies reduce available supply, influencing market scarcity, asset valuations, as well as businesses and users personal or .

• Slow loss of Investor Trust: Frequent and high-profile asset losses negatively impact investor confidence and market stability.

Legacy Protocol's Contribution

• Automated Asset Transfer: Automatically transfers digital assets upon wallet inactivity or forgotten credentials.

• Transparency and Control: Ensures full user control with non-custodial, fully transparent inheritance processes.

• Enhanced Stability: Protects digital assets, fostering long-term market security and investor trust.