Llama, a platform for on-chain access control and governance, announced on Monday that it’s raised $6 million from a group of investors including Founders Fund and Electric Capital.
Founded in 2021 by Shreyas Hariharan and Austin Green, the company is betting it can fill a niche for a growing number of companies that use smart contracts but don’t have an all-in-one system to manage them.
Instead of relying on multiple products hacked together to manage governance, Llama integrates with a smart contract to help manage things like permissions and proposals for changes to it. Llama uses a simple-to-read user interface with a dashboard of recent changes made to a smart contract along with any pending proposals. The proposals can be expanded to view more details, including how many approvals are required to enact a change.
Green said Llama is meant to bring some of the management systems of the traditional tech world to Web3.
“It’s bringing those best practices to a very different world of smart contracts,” he said.
Although Crypto Winter may not be officially over, a recent upswing in the price of Bitcoin and optimism over the potential approval of a spot Bitcoin ETF has renewed energy in the space.
Green and Hariharan said they believe that this excitement will only continue to grow and that many more companies will continue to integrate smart contracts into their tech.
“As complexity in smart contracts increases,” Hariharan added, “your system to solve that needs to be good.”