Kraken launches hosting Legion’s Token Sales, a fundraising platform backed by Vaneck and Brevan Howard Digital, expanding complex crypto products to millions of global users.
The initiative, released Thursday, will integrate Legion’s reputation-based allocation model with Exchange’s new Onchain fundraising hub, Kraken Launch.
Unlike traditional Indigenous fundraising models, Legion uses a “Legion score” to assign up to 20% of each sale to contributors such as developers, Defi users, and community leaders. This approach aims to reward long-term industry participants while reducing the impact of bots and speculative wallets. The remaining allocations will be available for both Legion and Kraken launches, and will be set to open trades immediately after each sale is over.
Kraken executives have framed the collaboration as part of a broader strategy to build financial infrastructure from crypto. “Kraken is building the foundation for tomorrow’s financial infrastructure at its heart, where Crypto is at its heart,” said Brett Mclain, Kraken’s payments director. “Together with Legion, we are democratizing token sales and expanding our products that will allow our communities to work with builders.”
The exchange previously took part in Legion’s $5 million seed round, deepening the relationship between the two companies.
The companies emphasized investor protection, and token sales required mica-compliant disclosure, due diligence and transparent allocation. This approach reflects the growing regulatory pressures in Europe, in contrast to US executive-driven surveillance.
The founders of Legion argue that democratized fundraisers can align projects with their most enthusiastic communities.
“The next Figma or Reddit is not an IPO, it will be launched on community-on-chain,” said Matt O’Connor, co-founder of Legion.
