Legion Plans to Become One of the First MiCA-Compliant CASPs

by Giorgi Kostiuk

2 years ago

Made with AI

Revolution in Fundraising
Mission and Goals of Legion
Support and Future Plans

Legion announced plans to become one of the first MiCA-compliant Crypto Asset Service Providers (CASP), providing access to early fundraising and token offerings for non-accredited investors.

Revolution in Fundraising

According to the team, Initial Coin Offerings (ICOs) revolutionized the way blockchain projects raise funds. They offered equal opportunities to participate in the early stages of new projects, creating strong communities such as LINKMarines and ETH maxis.

I participated in half a dozen ICOs. I loved them, but it was clear they had flaws. Scams, bots, and regulatory clampdown killed on-chain fundraising.Legion cofounder Matt O’Connor

Mission and Goals of Legion

Legion exists to provide equal opportunity access to on-chain fundraising for new crypto projects. The project offers an investor accountability layer and regulatory clarity. These features ensure that for teams using Legion, the risk-to-reward ratio of raising from retail users on-chain is competitive compared to traditional fundraising methods.

Raising from retail investors on-chain is the best way to build an incentive-aligned community.Legion cofounder Fabrizio Giabardo

Support and Future Plans

Legion is supported by a number of mission-driven founders, accelerators, and angels, completing a $2M Seed round. The VASP/CASP licenses will allow Legion to conduct pre-token fundraising rounds and token sales for non-accredited investors under MiCA.

For projects, it’s all about maximizing the amount of value per dollar raised.Cyber managing partner and former Lido cofounder Konstantin Lomashuk

Legion continues to develop its reputation system, VASP/CASP licenses, and plans to provide safe and regulated investment opportunities for retail investors.

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