Highway City, British Virgin Islands, 27 August 2024, Chainwire
Legion plans to change into one of many first MiCA-compliant CASPs, making entry to early fundraising and token choices out there to non-accredited buyers.
Right this moment, Legion emerges as an indication of a brand new period of merit-based fundraising.
In response to the group, Preliminary Coin Choices (ICOs) have revolutionized the way in which blockchain initiatives are funded. They supplied equal alternative to take part within the early levels of latest initiatives and because of this created among the strongest communities cryptocurrency has ever seen, similar to LINKMarines, ThorChads and ETH maxis.
“I've participated in half a dozen ICOs. I liked them, but it surely was clear they have been flawed. Scams, bots, and regulatory measures have killed off-chain fundraising. Now there's value discovery in backroom offers. Upward investments are totally mined off-chain earlier than will likely be accessed by on a regular basis customers, these non-public markets stand in stark distinction to the decentralized ethos of cryptocurrencies, leaving initiatives well-funded however with none natural neighborhood.- Legion Co-Founder Matt O'Connor
Legion exists for a single function: to offer equal alternatives of entry to on-chain fundraising for brand spanking new crypto initiatives. It achieves this mission via its investor fame and degree of accountability, in addition to by offering the regulatory readability supplied by the newest laws. Collectively, these options be certain that for groups utilizing Legion, the chance/reward ratio of elevating from on-chain retail customers is aggressive with elevating from VC.
Legion's founding group isn’t any stranger to on-chain fundraising, having labored for a number of ICO-funded initiatives – together with present and former Prime 50 initiatives by market cap, similar to Stacks, “the primary SEC-qualified (token) providing in US historical past.”
“Elevating from small buyers on the chain is one of the simplest ways to construct an incentive-based neighborhood, however it may be dangerous since you don't know who your first buyers are. Will they be long-term supporters? Are they actual or simply sniper bots? Legion's accountability layer permits groups to construct their retail military primarily based on on-chain and off-chain standards and cut back the fame of short-term gamers. It modifications incentives and will get everybody to behave long-term.” – Legion Co-Founder Fabrizio Giabardo
Legion is backed by quite a lot of earlier founders, accelerators and mission-driven angels, having accomplished a $2M Seed spherical led by Cyber Fund with participation from AllianceDAO, Delphi Labs, CoinGecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins , LongHash and others.
“For initiatives, it's all about maximizing worth per greenback raised. For the precise neighborhood, development from the correct mix of retail and enterprise capital buyers is vital. Simply as your first ten staff outline the corporate tradition, your first 100 to 1,000 token holders outline the neighborhood tradition.” – Cyber Managing Companion and former co-founder of Lido Konstantin Lomashuk
On this newest spherical, Legion is constructing its fame system and degree of accountability and securing the mandatory VASP/CASP licenses to facilitate pre-token fundraising rounds and token gross sales for non-accredited buyers inside MiCA.
In regards to the Legion
Legion makes on-chain fundraising investments accessible to retail buyers via investor compliance and accountability. Initiatives utilizing Legion can customise allocation, whitelist, reductions and extra utilizing on-chain and off-chain standards about every investor, creating an natural, die-hard neighborhood of backers. Every person on Legion is assigned a Legion rating, in addition to sub-component scores and achievements that mirror their potential so as to add worth throughout a number of sides and vastly cut back bot and Sybil exercise. These fame scores change primarily based on how buyers assist the initiatives they put money into, discouraging short-term value-extracting habits.
To study extra about Legion and Legion person scores:
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ContactCo-founderMatt O'ConnorLegionhi there@legion.cc
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