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Legion and Yield Basis Adjust $5 Million Token Sale Structure

Legion increases its allocation to $2.5 million, with the rest available exclusively on Kraken to address demand and prevent 'Gas wars.'

ETH

Summary

Legion and Yield Basis have adjusted their $5 million token sale following high demand. Legion’s allocation has been raised to $2.5 million, with the remainder now sold exclusively on Kraken. The removal of the first-come, first-served round aims to improve access and reduce bot activity, with all of Legion's allocation now moved to the priority round to address high gas fees.

Terms & Concepts
  • Token Sale: A fundraising event where projects sell tokens to investors, often used in cryptocurrency and blockchain-based ventures.
  • First-Come, First-Served (FCFS) Round: A token sale mechanism where allocation is granted to participants in the order they purchase, often leading to rapid sellouts and issues with bots.
  • Gas Fees: Transaction costs on a blockchain, paid to miners or validators, which can rise significantly during high network congestion.