Llama raises $6 million to simplify smart contract access management and governance

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Polygon co-founder Sandeep Nailwal and Aave founder Stani Kulechov are among the investors raising money for Llama, a protocol that aims to provide easy-to-use tools for on-chain organizations.

Llama, a smart contract access control and governance platform, has raised $6 million in a seed round led by Founders Fund and Electric Capital. The funding is earmarked for further development of the Llama platform, which co-founders Shreyas Hariharan and Austin Greene said will allow developers to focus on their core products.

Hariharan’s statement on the announcement noted that developers can leverage Llama to extend their on-chain entities by defining roles and permissions for key operations, such as protocol upgrades, moving treasury funds, editing smart contract parameters and initiating emergency stops.

Greene added that Llama’s platform can reduce development costs, paving the way for decentralized protocols that are more secure, more trustworthy, and more resistant to vulnerabilities.

Building and maintaining privileged access systems requires valuable engineering resources and large security budgets. Teams just need a secure way to set up and iterate fine-grained roles and permissions for all decision makers without having to write custom modules.

Austin Green, co-founder of Llama

Llama co-founders say their full-stack solution was born out of countless hours supporting blockchain builders and understanding the pain points associated with running smart contracts.

“We contribute to leading protocols and use our knowledge to build the products we wish we had,” Hariharan said.

Other Llama seed investors include Polygon co-founder Sandeep Nailwal, Aave founder Stani Kulechov, Stripe president of product and business Willy Gaybrick, Anchorage CEO Nathan McCauley, Coinbase protocol expert Viktor Bunin, Zeitgeist founder Sina Habinian and Elad Gil, Amplify Entities such as Partners, Reverie and FJ Laboratories.

As 2023 draws to a close, many cryptocurrency projects have raised funds from investors, crypto.news reports. 9GAG’s memecoin raises $11 million, although the token apparently has no roadmap. Moonveil also announced $5.4 in seed funding to support its web3 game studio and crypto payments provider Triple-A raised $10 million ahead of launching its token on Ethereum.


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