Llama Secures $6 Million Funding to Enhance Smart Contract Access Management

We're thrilled to announce that Llama has successfully raised $6 million in a seed funding round

Llama Secures $6 Million Funding to Enhance Smart Contract Access Management

We're thrilled to announce that Llama has successfully raised $6 million in a seed funding round, with Founders Fund and Electric Capital leading the charge. This investment is aimed at bolstering the security and efficiency of the next generation of cryptocurrency protocols. Notable backers of our mission include Elad Gil, Sandeep Nailwal, Stani Kulechov, Will Gaybrick, Amplify Partners, and FJ Labs.

While smart contract applications have accumulated significant value in locked assets and treasury holdings, managing and safeguarding these protocols remains a complex endeavor.

Llama has introduced a comprehensive platform that simplifies access control and governance, making them more effective and secure. We're pleased to announce that Llama is now operational on all major EVM chains.

With Llama, teams can deploy fully independent instances that define precise roles and permissions for executing transactions, referred to as "actions." These actions encompass a wide range of activities, such as protocol upgrades, fund transfers, parameter adjustments, and emergency pausing.

Llama has a noteworthy history of contributing to major crypto protocols and communities, including Aave, Nouns, Lido, dYdX, and ApeCoin. Our experiences have been instrumental in shaping the product we've developed.

Decentralization through access control is at the core of Llama's design. Each participant in governance is granted the minimum amount of power required to perform their specific role effectively.

Llama is tailored for role-based governance, offering flexibility in various scenarios:

  1. Risk parameters: Risk managers can optimistically update risk parameters, with changes taking effect after a specified time delay unless vetoed by token holders.
  2. Protocol grants: Grant reviewers can approve small grants with a low threshold but require a high threshold for large grants.
  3. Emergency updates: Team members can trigger an emergency pause with a high approval threshold and execute the action instantly once that threshold is met.

Llama equips protocols with an on-chain policy engine to set permissions for action creation and roles for action approvals and disapprovals. This approach ensures that protocols maintain an on-chain audit trail of their roles and permissions, providing transparency and confidence to users and investors.

Through Llama's native accounts feature, teams can establish precise rules for token approvals and transfers, allowing for multiple accounts dedicated to distinct capital allocation decisions rather than a single treasury for all decisions.

Protocols can gradually increase their level of decentralization by progressively adding new policyholders and expanding the range of actions that can be governed.

In the current landscape, protocols invest valuable engineering resources in forking open-source frameworks, integrating complex access control modules, and piecing together custom frontends. Llama offers a comprehensive solution for access control and governance, enabling teams to concentrate on their core product development without being burdened by these complexities.