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Smart Contract Platform Llama Raises $6M From Investors Including Polygon, Aave Founders
The firm aims to allow blockchain governance protocols to encode role-based functionality.
Smart contract platform Llama has raised $6 million in seed funding from Founders Fund and Electric Capital, with other investors including Sandeep Nailwal, the co-founder of the Polygon blockchain, and Stani Kulechov, the founder of lending protocol Aave.
Llama said it aims to make the governance of blockchain protocols more effective by enabling protocols to encode roles and permissions to take on-chain actions, such as transferring funds or changing protocol parameters. The platform aims to address some of the inefficiencies and security vulnerabilities that may lead to poor performance or worse, hacks and exploits.
STORY CONTINUES BELOW
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The platform is "designed for role-based governance," Llama said in an email on Monday. This might involve a cybersecurity team updating the risk parameters or the operations team hitting an emergency pause in response to liquidity concerns.
Llama refers to this as "access control," in which each participant is granted "the minimum amount of power to perform the function they are best suited to do," co-founder Shreyas Hariharan said in the statement.
Read More: Solana-Based Cypher Protocol Experiences Exploit, Freezes Smart Contract
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
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