Llama raises $6M for role-based governance platform

The fullstack app is hoping to move away from “one token one vote” governance and make permissions more precise

article-image

Yatzek Photography/Shutterstock modified by Blockworks

share

A governance and smart contract management solution called Llama has successfully secured a $6 million investment. The funding round was spearheaded by investment firms Founders Fund and Electric Capital.

Llama is a governance application that manages smart contracts and permissions on behalf of protocols. The fundraise comes amid what some perceive as stagnation on the part of DAOs when it comes to innovative approaches to governance. 

Llama told Blockworks that its full stack platform would streamline governance.

“Currently, the space is very fragmented,” Llama co-founder Austin Green said. “There really isn’t one unified place that has the full stack for you to manage roles and permissions.”

DAO governance has been generally rocky of late. A Solana DAO recently lost $230,000 after failing to notice a proposal that drained the treasury. The Nouns DAO saw half of its own treasury exit via a “fork,” and Lido critics have focused on the platform’s DAO as a point of concern for Ethereum’s credible neutrality.

When asked about the frayed reputation of DAOs, Green said that crypto governance hasn’t innovated enough past the “one token, one vote” approach popularized during DeFi’s breakout in 2020. 

To make voting less one size fits all, Llama is working on “decentralization through access control,” Green said, where roles are split between different service providers based on their area of expertise. A grants team, for instance, could vote on decisions relevant to grant allocation, but not on changing lending risk parameters. 

Notably, in a press release announcing its fundraise, Llama didn’t use the term “DAO” at all, opting to focus on “governance” instead.

Llama’s fundraise isn’t the first example of venture capital showing interest in governance.

VCs poured money into DAOs in 2022. Tally, another governance platform, raised $6 million of its own in 2021 in a round led by Blockchain Capital and Placeholder. And last week, Variant Fund’s general partner was the largest voter on a temp check for a Uniswap DAO investment decision.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (2).png

Research

We’re bullish on the PUMP token. We believe Pump.fun's brand strength, existing integrations, product roadmap, and strategic levers justify PUMP's TGE valuation, and expect the token to re-rate meaningfully higher in the months ahead.

article-image

Big blockers wasted a bitcoin fortune trying to prove a point

article-image

Coinbase’s newest acquisition includes the CEO and Head of Research from Opyn

article-image

Crypto’s highest purpose might be to make markets better by making them bigger

article-image

The non-profit’s “Project Open” seeks to let stocks trade directly on Solana

article-image

The acquisition is Pump.fun’s first, and comes just days before its planned ICO

article-image

As Trump’s tariff war reignites, everyone is assuming the dollar will continue its path lower. But the journey might be bumpy