Legion Raises $2M for Advantage-Based totally ICO Platform

[PRESS RELEASE – Road Town, British Virgin Islands, August 27th, 2024]

Legion plans to change into one of the vital first MiCA-compliant CASPs and produce get right of entry to to early fundraising and token choices to non-accredited buyers.

As of late, Legion emerges to mark a unutilized future of merit-based on-chain fundraising.

Consistent with the group, Preliminary Coin Choices (ICOs) revolutionized how blockchain tasks fundraise. They introduced equivalent alternative to take part within the early levels of unutilized tasks, and consequently, created one of the most powerful communities crypto has ever discoverable, such because the LINKMarines, ThorChads, and ETH maxis.

“I participated in half a dozen ICOs. I loved them, but it was clear they had flaws. Scams, bots, and a regulatory clampdown killed on-chain fundraising. Now price discovery occurs in back-room deals. Investment upside is fully extracted off-chain, before everyday users have access. These private markets stand in stark contrast to crypto’s decentralized ethos and leave projects well-funded, but without any organic community.” – Legion cofounder Matt O’Connor

Legion exists for a novel function: to serve equivalent alternative get right of entry to to on-chain fundraising for unutilized crypto tasks. It achieves this undertaking with its investor recognition and responsibility layer, in addition to via offering regulatory readability introduced via the actual laws. In combination, those options safeguard that for groups the use of Legion, the risk-to-reward ratio of elevating from retail customers on-chain is aggressive to that of elevating from VCs.

Legion’s foundation group aren’t any strangers to on-chain fundraising, having labored for a couple of tasks funded via ICOs – together with flow and previous Manage 50 tasks via marketplace cap equivalent to Stacks, “the first SEC-qualified [token] offering in U.S. history”.

“Raising from retail investors on-chain is the best way to build an incentive-aligned community, but it can be risky because you don’t know who your early investors are. Will they be long-term supporters? Are they real or just sniping bots? Legion’s accountability layer allows teams to assemble their retail army based on on-chain and off-chain criteria, and slash the reputation of short-term actors. It changes the incentives, and aligns everyone to act long-term.” – Legion cofounder Fabrizio Giabardo

Legion is subsidized via a lot of mission-driven earlier founders, accelerators, and angels, finishing a $2M Seed spherical led via Cyber Treasure, with participation from AllianceDAO, Delphi Labs, CoinGecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins, LongHash, and others.

“For projects, it’s all about maximizing the amount of value per dollar raised. Raising from the right mix of retail and venture capital investors is crucial for the right community. Just as your first ten employees define company culture, your first 100 -1,000 token holders define community culture.” – Cyber managing spouse and previous Lido cofounder Konstantin Lomashuk

With this actual spherical, Legion is development its recognition machine and responsibility layer, and securing the vital VASP/CASP licenses to facilitate pre-token fundraising rounds and token gross sales for non-accredited buyers underneath MiCA.

About Legion

Legion makes making an investment in on-chain fundraises obtainable to retail buyers via regulatory compliance and investor responsibility. Tasks the use of Legion can customise allocation, whitelist, reductions, and extra the use of on-chain and off-chain standards about every investor, assembling an natural, die-hard, public of supporters. Each and every consumer on Legion is assigned a Legion Ranking, in addition to subcomponent rankings and achievements, reflecting their skill to add-value throughout a couple of aspects and closely lowering bot and Sybil job. Those recognition rankings alternate in accordance with how buyers assistance the tasks they spend money on, disincentivizing momentary, value-extractive sort behaviors.

To be told extra about Legion and consumer’s Legion Ranking:

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