On chain encrypted messaging protocol River has acquired Llama, a smart contracts platform backed by Founders Fund, to augment its decentralized governance in the ecosystem. Llama’s open-source smart contracts technology is one of our keys to solidifying governance across River’s platforms by integrating their technology.
In a blog post about the acquisition, River stated that this partnership will afford stakeholders access to the most advanced governance tools possible, including node operators and space owners. This will allow for proposal submission, voting in secure, transparent voting processes, & allow.protocol changes for the users.
River Set to Transform Messaging Applications with Innovative Governance Solutions
River, which will launch in March 2024, seeks to revolutionize messaging application development. Base’s protocol works on a layer 2 blockchain that is compatible with the Ethereum Virtual Machine and gives its space creators the ability to manage their different functions like pricing and access control using smart contracts on Base.
Governance and access control platform Llama, who raised $6 million in a seed funding round led by Founders Fund and Electric Capital in November, 2023 offers a platform to help achieve multiple operational goals. They allow for more structured governance framework, including treasury management, smart contract/processes management and managing the protocol parameter.
The potential here is to create ‘private, ownable, and monetizable group chats’ for a market whose size is over $200 billion, says industry experts. ‘With Towns on River, the future of messaging apps is clearly trending towards decentralization, challenging the likes of WhatsApp, Facebook Messenger, Telegram, WeChat and Discord,’ said Ben Rubin, the developer of the Towns platform on River.
