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Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

CryptocurrencyOct 22, 2021 09:30AM ET
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Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

Transient Network, a Smart Contract Global Marketplace, is thrilled to announce that it has raised $1.2 million via Initial DEX Offering (IDO) on two different launchpads – Genesis Pool (NASDAQ:POOL) and Lemonade. Transient ($TSCT) raised $1 million in an oversubscribed public sale on Genesis Pool and $200,000 via Lemonade. The Lemonade sale reached its $200,000 milestone in just 90 minutes!

Transient is building the “Amazon (NASDAQ:AMZN) of smart contracts” – a global marketplace of decentralized applications (dApps) designed to help non-coders create smart contracts for specific use cases and industries. Individuals and businesses, even those with zero knowledge of coding, can use the relevant dApp on the marketplace to create self-enforcing and self-executing smart contracts.

Prior to the IDO public sale, Transient had raised $275,000 in a seed round that saw participation from Exit Forward — a venture capital firm supporting forward thinking projects — and a number of silent advisors.

It had also raised $1.2 million in a private ($TSCT) token sale. Given the nature of the project, Transient decided to raise primarily from a group of individual investors rather than seeking greater participation from whales or prominent venture capitalists.

Speaking on the fundraising milestone, Transient Network CEO Beau Olson said,

“After a long road to get here, we are absolutely thrilled and excited to have completed our private and public raises - with a number of keen investors and launchpads snapping up the opportunity to get in at the very beginning of our journey ahead - we particularly thank our seed investors Exit Forward and launchpad partners GPool and Lemonade. We at Transient can now focus on bringing the world our Smart Contract Global Marketplace, allowing coders and non-coders alike to leverage our smart contracts for anyone, anywhere, anytime.” Since the launch of Ethereum, smart contracts have become one of the biggest components of the blockchain space. But until now, only people with programming skills could take advantage of them.

Transient believes that the benefits of smart contracts – immutability, transparency, speed, accuracy, and hyper-security – shouldn’t be limited to transactions and agreements between coders. Enabling non-coders to create and interact with smart contracts could drive blockchain adoption at the grassroots level.

The first four dApps on Transient’s marketplace are:

  • TSC-Core: A standard smart contract creation and management app with features like transfer, deposit and digital signature.
  • CryptoPool: Enables users to create their own pools for crypto price predictions and share in the winnings.
  • Esports: Builds an ecosystem of P2P market creation of your favorite competitions and a number of other services — taking social betting and content-driven experiences to the next level.
  • NDA: Lets users create smart contracts that make it easier to work with clients and partners. Transient’s legal advisors ensure the contracts are bulletproof within the legal landscape.

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Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts
 

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