Permissionless Raises $2,50,000 Via Community Support In Less Than 48 Hours

A decentralised autonomous organisation, Permissionless, raised $2,50,000 via community support in less than 48 hours.

Company handout

Led by GenZ serial entrepreneur Roshan Vadassery, Permissionless aims to leverage blockchain to eliminate trust issues on a technical level, while working towards making the world an open source platform. Not just that, their $PRTN token jumped from 0.01 to 0.4 dollars, making it a 3900 per cent increase, which saw a trading volume of $1 million on the first day of its launch, claimed by the company in a statement.

"Ever since I started coding for Nokia phones at the age of 11, I always knew that sovereign computing will be the future. Today we are wooing the industry with leveraging this beautiful technology that is blockchain. In order to do so, I launched Permissionless with the aim of building a public infrastructure for the new web and solving complex problems with deep tech while also introducing open source to the new world. The feeling of raising a spectacular amount within 48 hours via a community support is a step closer to unlocking one achievement on the list of many more," said Roshan Vadassery, founder, Permissionless.

Enabling the future of fundraising, Roshan became India's first-ever entrepreneur to raise funds via community support in the open-source web3/blockchain space with more than 150 participants, making Permissionless the only Indian company to do so without involving any VCs or investors, the statement added.

Launched in July 2022, Permissionless is a decentralised autonomous organisation built by leaders who have worked in the shadows of the blockchain industry and have come in together to reduce the dependency on centralised entities as the first touch point for adopters of the new web.