The Polygon blockchain’s co-creator Sandeep Nailwal and lending protocol Aave’s founder Stani Kulechov are among the investors in Llama, a smart contract platform that has acquired $6 million in initial money from Founders Fund and Electric Capital.By allowing protocols to codify roles and rights to execute on-chain operations, such transferring funds or altering protocol parameters, Llama said it seeks to improve the efficacy of blockchain governance.The platform attempts to address some of the security flaws and inefficiencies that could result in subpar performance or, worse, hacks and exploits.
According to Llama’s email from Monday, the technology is “designed for role-based governance.”One such scenario is that the operations team may decide to implement an emergency pause due to liquidity issues, or the cybersecurity team may update the risk parameters.
Llama refers to this as “access control,” in which each participant is granted “the minimum amount of power to perform the function they are best suited to do,” co-founder Shreyas Hariharan said in the statement.