Jumper said its JUMP token sale will open on Legion on Sept. 29 at 13:00 UTC and run until Oct. 2 at the same time. The sale is being presented as the project’s first independent fundraising effort.
During the sale window, eligible participants will be able to review the terms on Legion, submit a pledge, and request a JUMP allocation. Jumper said, however, that making a pledge does not amount to a confirmed purchase, and final allocations will depend on eligibility, demand, the sale terms, and Legion’s allocation process.
Pledges will not guarantee token allocations
According to Jumper’s Sept. 25 announcement, users who qualify for the offering can take part through Legion by submitting pledges and requesting an allocation of JUMP. The project said allocations will only be determined after Legion applies its process and checks the final conditions of the sale.
Jumper also signaled that oversubscription could affect the outcome. If requests for JUMP exceed the amount available by a substantial margin, allocations may be adjusted so that more eligible participants can be included in the offering.
Sale access is limited by jurisdiction
Legion’s restrictions bar users in the United States and the United Kingdom from the sale, along with participants in several other jurisdictions. The exclusion list cited for the offering also includes the United Arab Emirates, Russia, Iran, Syria, North Korea, Cuba, and sanctioned regions of Ukraine.
Within the European Union, access to the sale terms is limited to fewer than 150 eligible people in each member state. Jumper said that completing eligibility or identity checks does not by itself guarantee either access to the offering or receipt of an allocation. Any offer to acquire JUMP would be made separately through Legion to selected eligible individuals.
Jumper frames JUMP as its fundraising route
In announcing the sale, Jumper said this is the first time it is raising funds independently. The company also said it has no equity, and described the JUMP token as the way for users, contributors, and investors to participate in the project’s growth.
The announcement stopped short of promising tokens to everyone who expresses interest. Even after a pledge is submitted, participants would still need to receive an allocation under the final sale terms before any purchase is confirmed.
Product expansion remains part of the broader plan
Jumper currently offers swapping and transfers across blockchains. It also says users can access yield products and view assets such as cryptocurrencies, tokenized stocks, and other real-world assets. The team is led by CEO Marko Jurina.
The company said it is building out four product lines: Earn, Advanced, real-world assets, and perpetual futures. Earn is aimed at on-chain yield opportunities, while Advanced is intended to add trading tools including limit orders and time-weighted average price orders. Jumper also said it offers an interface for trading tokenized stocks and other real-world assets, and that its perps product will aggregate perpetual futures venues with JUMP token and USD incentives with Ondo.
For now, the next confirmed step is the opening of the Legion sale on Sept. 29. Jumper has not said that U.S. buyers will have an alternative route, and the source article notes that the project has not stated whether the offering will rely on either of the proposed U.S. exemptions currently under consideration for crypto fundraising.
Source: crypto.news