Share this article
Smart Contract Platform Llama Raises $6M From Investors Including Polygon, Aave Founders
The firm aims to allow blockchain governance protocols to encode role-based functionality.
Nov 6, 2023, 3:00 p.m.
Make us preferred on Google
Smart contract platform Llama has raised $6 million in seed funding from Founders Fund and Electric Capital, with other investors including Sandeep Nailwal, the co-founder of the Polygon blockchain, and Stani Kulechov, the founder of lending protocol Aave.
Llama said it aims to make the governance of blockchain protocols more effective by enabling protocols to encode roles and permissions to take on-chain actions, such as transferring funds or changing protocol parameters. The platform aims to address some of the inefficiencies and security vulnerabilities that may lead to poor performance or worse, hacks and exploits.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The platform is "designed for role-based governance," Llama said in an email on Monday. This might involve a cybersecurity team updating the risk parameters or the operations team hitting an emergency pause in response to liquidity concerns.
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.
Read More: Solana-Based Cypher Protocol Experiences Exploit, Freezes Smart Contract
More For You
More For You
Specialized AI detects 92% of real-world DeFi exploits
New research claims specialized AI dramatically outperforms general-purpose models at detecting exploited DeFi vulnerabilities.
What to know:
- A purpose-built AI security agent detected vulnerabilities in 92% of 90 exploited DeFi contracts ($96.8 million in exploit value), compared with 34% and $7.5 million for a baseline GPT-5.1-based coding agent running on the same underlying model.
- The gap came from domain-specific security methodology layered on top of the model, not differences in core AI capability, according to the report.
- The findings come as prior research from Anthropic and OpenAI shows AI agents can execute end-to-end smart contract exploits at low cost, accelerating concerns that offensive AI capabilities are scaling faster than defensive adoption.
Top Stories
