Smart Contract Governance Platform Llama Raises $6 Million in Seed Funding
Llama, a smart contract governance platform, has successfully raised $6 million in seed funding. The funding round was led by venture capital firms Founders Fund and Electric Capital, with participation from prominent figures in the crypto industry such as Aave founder Stani Kulechov and Polygon co-founder Sandeep Nailwal. Other participants include Elad Gil, former vice president of corporate strategy at Twitter, and Will Gaybrick, president of product and business at Stripe.
Expansion Plans
The newly acquired funds will be utilized to expand Llama’s team by hiring more engineers and cover infrastructure costs. Co-founder Shreyas Hariharan stated that the goal is to enhance the platform’s security and effectiveness by providing smart contracts with full-stack governance and access control.
Improved Security and Efficiency
Llama’s platform aims to achieve decentralization through access control. By encoding roles, permissions, and execution strategies for on-chain actions, each participant in the governance process is granted a specific level of power based on their expertise. This approach ensures better security and efficiency within the smart contract ecosystem.
Hot Take: Empowering Smart Contract Governance with Llama
Llama’s successful seed funding round highlights the growing importance of smart contract governance in the crypto industry. By providing a platform that focuses on access control and decentralized decision-making, Llama aims to improve the security and effectiveness of smart contracts. With support from prominent investors and industry leaders, Llama is well-positioned to make a significant impact in the space. As the adoption of blockchain technology continues to rise, robust governance solutions like Llama will play a crucial role in ensuring the smooth operation of decentralized applications.
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