Smart Contract Platform Llama Raises $6M Led By Founders Fund And Electric Capital

Twitter icon  •  Published 7 months ago  •  Hassan Maishera

Smart contract platform Llama has raised $6 million in a seed funding round led by Founders Fund and Electric Capital, with participation from Aave and Polygon founders.

TL;DR

  • Llama raises $6 million from investors, including Aave and Polygon founders

  • The platform enables blockchain governance protocols to encode role-based functionality.

Llama Raises $6M In Seed Funding Round

Smart contract platform Llama has raised $6 million in seed funding. This funding round was led by Founders Fund and Electric Capital. Other investors in this project include Sandeep Nailwal, the co-founder of the Polygon blockchain, and Stani Kulechov, the founder of lending protocol Aave.

While commenting on this latest development, Llama said it intends to make the governance of blockchain protocols more effective by enabling protocols to encode roles and permissions to take on-chain actions like transferring funds or changing protocol parameters.

Llama also intends to address some of the flaws and security vulnerabilities that could result in poor performance or hacks and exploits. The company added that Llama is designed for role-based governance. 

Its function might involve a cybersecurity team updating the risk parameters or the operations team hitting an emergency pause in response to liquidity concerns. According to Llama, this scenario is called access control; where participants are granted the minimum amount of power to perform the functions they are best suited to do.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.