As an analyst with over a decade of experience in the blockchain and cryptocurrency industry, I’ve witnessed the evolution of decentralized technologies from their infancy to their current state of maturity. Today, I find myself impressed by River Protocol’s strategic acquisition of Llama, a move that promises to revolutionize governance for web3 communication platforms.
Zug, Switzerland, November 1st, 2024, Chainwire
By acquiring this, we’ll significantly improve the administrative capabilities for all current and future web3 communication tools that are developed based on the River Protocol.
Today, a pioneering communication security protocol called River revealed its purchase of Llama, a decentralized governance protocol. The technology from Llama is set to be incorporated into River, strengthening its services for users even further. Recently, Towns – an on-chain platform for end-to-end encrypted communications – debuted on River, making it the largest project for the platform so far with over 125,000 unique users and more than 81,000 Towns created. This acquisition will advantage all existing and future platforms utilizing the protocol, such as providing stronger governance tools for DAOs (Decentralized Autonomous Organizations) and expanding their potential use cases.
The protocol is focused on expanding its technical capabilities and shaping the future of web3 communications. The integration will enhance River’s token governance capabilities and provide built-in governance contracts for users creating spaces within the platform. Additionally, Towns will benefit from a new tech stack, allowing users to build customizable governance systems.
According to Patrick Fives, Chief Protocol Officer and co-founder of River Protocol, the addition of Llama complements our aim at River perfectly. This aims to provide users with advanced decentralized management and personalization options. Our objective is to shape the future of communication, and this integration will simplify decision-making, leading to more accessible and effective on-chain governance.
In simple terms, the management system of Llama relies on open-source smart contracts, enabling users to tailor and adjust its functions as needed. This flexibility extends to Decentralized Autonomous Organizations (DAOs) who can assign particular roles and permissions for executing transactions or “actions” like protocol updates, money transfers, parameter modifications, and emergency halts. By letting users decide on who can propose, endorse, or carry out these actions, Llama incorporates strong safety measures via sophisticated permissioning tactics. This fine-tuned control is crucial for handling intricate tasks securely and adapting to shifting circumstances.
As researchers delving into the realm of on-chain governance, it’s been fascinating to observe the River team spearheading innovation from the get-go. They swiftly embraced sophisticated features such as multi-token voting and multi-chain governance, setting a trailblazing example for other decentralized communication platforms. The integration of these tools has redefined the standard in our space, and we eagerly anticipate witnessing how they leverage our technology to develop more adaptable and potent governance solutions for their users, enhancing the overall decentralization experience.
2023 saw Llama secure a $6 million seed funding round, with the lead from Founders Fund and Electric Capital. Notable backers such as Elad Gil, Sandeep Nailwal of Polygon, and Stani Kulechov from Aave also participated in this round.
About River
The River Protocol is a pioneering system designed to ensure secure communication for individual users. It offers an experience similar to what you’d find on web2 communication platforms, but with the added security of web3. This innovative protocol operates as an EVM-compatible L2 chain, using decentralized off-chain stream nodes and smart contracts deployed on Base, to create flexible communication tools without requiring permission. The utility token of River, RVR, is assigned to Node Operators to maintain the platform’s security. Launched in May 2024, notable clients for the River Protocol include Propeller.chat and Towns, a communications platform backed by a16z, which launched in October 2024.
About Llama
Llama is a fullstack platform for onchain access control and governance. The Llama protocol is designed for decentralized governance, consisting of open-source, fully deployed smart contracts that offer a comprehensive on-chain governance system with flexible requirements. The platform allows clients to securely take action using onchain policies and custom execution strategies. In 2023, Llama raised a $6 million seed round led by Founders Fund and Electric Capital and notable investors including Elad Gil, Sandeep Nailwal (Polygon), and Stani Kulechov (Aave).
Contact
Ryleigh Ebron
Serotonin
ryleigh@serotonin.co
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2024-11-01 17:58