TechFlow reports on August 27, according to Chainwire, Legion, a blockchain project fundraising platform, announced it has raised $2 million in seed funding led by Cyber Fund, with participation from prominent institutions and individual investors including AllianceDAO, Delphi Labs, CoinGecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins, and LongHash.
Founded to reinvent the initial coin offering (ICO) model, Legion aims to provide non-accredited investors with opportunities to participate in early-stage blockchain project financing. The platform balances the interests of project teams and investors through innovative investor reputation and accountability mechanisms, along with compliance measures aligned with the latest regulatory requirements.
"ICOs once revolutionized how blockchain projects raised capital, but fraud, bots, and regulatory pressure caused on-chain fundraising to nearly vanish," said Legion co-founder Matt O'Connor. "Our goal is to reintroduce this funding model while solving its inherent problems."
