Legion, an on-chain project financing platform, announced the completion of a $2 million seed round of financing, with Cyber Fund leading the investment.

DeepChain TechFlow News, on August 27, according to Chainwire, the on-chain project financing platform Legion announced the completion of a $2 million seed round of financing, led by Cyber Fund, with participation from well-known institutions and individual investors such as AllianceDAO, Delphi Labs, CoinGecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins, and LongHash.

Legion was founded to reshape the Initial Coin Offering (ICO) model, providing opportunities for non-accredited investors to participate in early-stage blockchain project financing. The platform aims to balance the interests of project parties and investors through innovative investor reputation and accountability mechanisms, as well as compliance measures that meet the latest regulatory requirements.

Legion co-founder Matt O'Connor stated, "ICOs once completely changed the way blockchain projects were financed, but the subsequent scams, bots, and regulatory pressures almost eliminated on-chain financing. Our goal is to reintroduce this financing model while addressing its inherent issues."