August 22, 2024
Legion has secured $2 million in seed funding, led by Cyber Fund, with contributions from AllianceDAO, Delphi Labs, CoinGecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins, LongHash, and other mission-driven founders, accelerators, and angels.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Legion | $2M | August 22, 2024 | Seed Round | Investment |
With this funding, Legion is developing its reputation system and accountability layer, and obtaining the necessary VASP/CASP licenses to support pre-token fundraising rounds and token sales for non-accredited investors under MiCA regulations.
The team highlights that Initial Coin Offerings (ICOs) transformed blockchain project fundraising by allowing equal participation in early project stages, fostering strong communities like LINKMarines, ThorChads, and ETH maxis.
Legion’s primary goal is to provide equal access to on-chain fundraising for new crypto projects. It accomplishes this through its investor reputation and accountability system, along with regulatory clarity from recent regulations. These features ensure that raising funds from retail users on-chain is as competitive as raising from venture capitalists.
About Legion
Legion simplifies on-chain fundraising for retail investors by ensuring regulatory compliance and investor accountability. Projects using Legion can tailor allocations, whitelists, discounts, and more based on both on-chain and off-chain investor criteria, creating a dedicated community of supporters. Each user receives a Legion Score, along with subcomponent scores and achievements, which reflect their value-adding potential and significantly reduce bot and Sybil activity. These reputation scores adjust based on how investors support their projects, discouraging short-term, value-extractive behaviors.
Website: https://legion.cc/
About Investor
Investor: cyber•Fund
cyber•Fund is a research-driven investment firm focused on the cybernetic economy. They support and invest in projects at the intersection of blockchain, artificial intelligence, robotics, and related technologies. The firm has contributed to over 150 projects, including notable ones like Lido DAO and P2P.org. Their mission is to accelerate the transition to a more open and efficient economy by backing innovative entrepreneurs from the early stages of their ventures.
Location: Grand Cayman, CY
Website: https://cyber.fund/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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