Legion Announces Plans to Comply with MiCA and Provide Access to Early Fundraising

by Giorgi Kostiuk

2 years ago

Made with AI

A New Beginning for On-Chain Fundraising
Legion's Functionality and Mission
Support and the Future of Legion

Legion aims to become one of the first MiCA-compliant CASPs and provide access to early fundraising and token offerings for non-accredited investors.

A New Beginning for On-Chain Fundraising

Today, Legion emerges to mark a new era of merit-based on-chain fundraising. The team notes that Initial Coin Offerings (ICOs) revolutionized how blockchain projects fundraise, offering equal opportunity to participate in the early stages of new projects.

Legion's Functionality and Mission

Legion exists for a singular purpose: to provide equal opportunity access to on-chain fundraising for new crypto projects. They achieve this mission with their investor reputation and accountability layer, as well as by providing regulatory clarity with the latest regulations.

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.Legion cofounder Fabrizio Giabardo

Support and the Future of Legion

Legion is backed by several mission-driven founders, accelerators, and angels, having completed a $2M Seed round led by Cyber Fund with participation from AllianceDAO, Delphi Labs, 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.Cyber managing partner and former Lido cofounder Konstantin Lomashuk

With this latest round, Legion is building its reputation system and accountability layer, and securing the necessary VASP/CASP licenses to facilitate pre-token fundraising rounds and token sales for non-accredited investors under MiCA.

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