Legion Aims to Be MiCA-Compliant CASP

by Giorgi Kostiuk

2 years ago

Made with AI

History and Impact of ICOs
Legion’s Mission and Technology
Project Support and Future Plans

Legion has announced plans to become one of the first platforms to provide access to early fundraising and token offerings for retail investors, compliant with MiCA.

History and Impact of ICOs

According to the Legion team, Initial Coin Offerings (ICOs) have revolutionized how blockchain projects raise funds. ICOs offered equal opportunities to participate in the early stages of new projects, resulting in the creation of some of the strongest communities in the crypto world.

Legion’s Mission and Technology

Legion exists to provide equal opportunity access to fundraising for new crypto projects. The platform uses an investor reputation and accountability layer, while ensuring regulatory clarity with the latest regulations. These features allow teams using Legion to attract funds effectively, comparable to those from venture capitalists.

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.Fabrizio Giabardo

Project Support and Future Plans

Legion is supported by a number of former founders, accelerators, and angels, completing a $2M seed round led by Cyber Fund. Participants included AllianceDAO, Delphi Labs, CoinGecko, and others. Legion continues to build its reputation system and accountability layer, and secure the necessary VASP/CASP licenses to conduct pre-token fundraising rounds and token offerings under MiCA.

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.Konstantin Lomashuk

Legion aims to revolutionize the approach to fundraising in the crypto space, providing a platform for equal access for retail investors. This will help create an organic community and reduce risks for projects through its reputation and accountability system.