Legion and Kraken Collaborate for YieldBasis Token Sale

Legion, a leading Web3 launchpad platform, has partnered with global cryptocurrency exchange Kraken to conduct an innovative token sale for YieldBasis. This initiative introduces a new benchmark for fundraising by prioritizing accessibility, contribution-based participation, and immediate post-token generation event (TGE) liquidity on centralized exchanges (CEX). The structure of the sale is designed to balance inclusivity and efficiency, offering a seamless experience for various types of investors.

Token Sale Overview

The YieldBasis token sale consists of two distinct phases: a contribution-based presale exclusive to the Legion community, followed by a first-come, first-served (FCFS) public sale. This dual-phased approach aims to cater to both active contributors and general investors, ensuring equitable access.

Phase 1: Contribution-Based Presale

The initial phase prioritizes Legion users with a verified Legion Score, a unique metric reflecting their contributions, expertise, and engagement with the platform. Up to 40% of the total sale allocation is reserved for this group, offering an exclusive opportunity to participate early based on merit. Key details for the presale include:

• Soft Cap: $25,000, with additional applications accepted beyond the cap.
• Minimum Participation Amount: None.

Participants in this phase must meet specific qualifications outlined by the YieldBasis team, with allocations determined as follows:

• Full Allocation: The participant receives their entire requested amount.
• Partial Allocation: Only a portion of the requested amount is fulfilled, with unused USDC refunded immediately.
• No Allocation: If a participant does not receive any allocation, their pre-deposited USDC is fully refunded after the sale.

Phase 2: FCFS Public Sale

The second phase, the FCFS public sale, offers the remaining tokens to the general public through Legion and Kraken platforms. This phase operates on a first-come, first-served basis, making speed essential for participation. Following the sale, available tokens will transition directly to Kraken for immediate trading. Key details for this phase include:

• Maximum Participation Amount: $10,000.
• Minimum Participation Amount: None.

Participants must act quickly as transactions will only be processed if tokens are still available. If the allocation sells out, unsuccessful applications will be voided.

During both phases, participants are required to pre-deposit USDC to streamline the sale process.

Key Timelines and Participation Process

To ensure ready access, investors must adhere to strict timelines and follow application procedures for both presale and public sale phases.

Contribution-Based Presale (Starts September 30)

The presale begins on September 30 at 12:00 AM KST (September 29 at 10:00 AM EST / 2:00 PM UTC). Interested participants need to create a Legion platform account and obtain a Legion Score before submitting their application using the platform’s designated “Apply” button.

Once applications are submitted, results will be categorized as follows:

• Full Allocation.
• Partial Allocation, with immediate refunds for unused USDC.
• No Allocation, with a full refund of pre-deposited USDC.

FCFS Public Sale (Starts October 2)

Following the presale, any remaining tokens will be sold during the FCFS public sale starting October 2 at 12:00 AM KST. Participants must pre-deposit USDC in advance and submit applications quickly to secure a purchase. As availability is limited, transactions may fail if tokens sell out, ensuring tokens are allocated to participants promptly.

Ethereum Gas Fees

Participants should anticipate fluctuating Ethereum mainnet gas fees during both phases. Adequate preparation to cover these fees is essential for smooth processing.

Redefining Fundraising Norms

This strategic partnership between Legion and Kraken strives to redefine fundraising in the cryptocurrency sector. By combining participant-first methods, transparent contribution-based access, and the convenience of immediate liquidity, YieldBasis aims to establish a new fundraising standard. Not only does this framework benefit active investors and contributors, but it also supports projects with expanded global market reach and streamlined token distribution.

As the YieldBasis team highlights, “The presale begins on September 30, while the FCFS sale starts on October 2. Interested investors are encouraged to sign up with Legion in advance to prepare.”

Legion and Kraken’s collaboration sets a precedent in the Web3 and crypto industries, aligning with the evolving demands of modern investors while fostering innovation and accessibility in the token sale process. Investors keen on participating are advised to act early and follow all participation guidelines to take advantage of this groundbreaking approach.