Hassan Maishera
TL;DR
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Llama raises $6 million from investors, including Aave and Polygon founders
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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.
