River, an on-chain encrypted messaging protocol, has acquired Llama, a Founders Fund-backed good contracts platform for decentralized governance.
The acquisition will assist River buttress its governance throughout its ecosystem, with the protocol integrating Llama’s open-source good contracts expertise instantly into its varied platforms.
In keeping with a weblog publish detailing the transaction, leveraging Llama will enable River’s stakeholders, together with node operators and area house owners, entry to built-in instruments that can bolster governance mechanisms.
For example, node operators or area house owners can now submit proposals associated to protocol modifications, with safe and clear voting.
“In brief, this acquisition crystallizes the flexibility for each neighborhood to mechanically deploy their very own absolutely on-chain DAO with a treasury system. By means of this framework, members can focus on and determine how funds are allotted and methods to govern their very own neighborhood,” River wrote within the weblog publish.
River launched in March 2024, introducing a protocol that sought to remodel the event of messaging apps. The good contracts platform, which operates as a layer-2 blockchain, presents compatibility with the Ethereum Digital Machine.
River good contracts on Base permits the protocol’s area creators to deal with options corresponding to pricing, and gate entry.
Llama in the meantime permits protocols to leverage its governance and entry management platform for varied governance objectives. These embody managing good contract operations, treasury, protocol parameters, and emergency capabilities.
Llama raised $6 million in November 2023 in a seed spherical led by enterprise capital corporations Founders Fund and Electrical Capital.
River seeks to make inroads in a messaging app market that’s at present estimated at over $200 billion. In keeping with Ben Rubin, the developer of the Cities platform on River, there’s large potential for “personal, ownable and monetizable group chats.”
Dominating the messaging apps market at the moment are WhatsApp, Fb Messenger, Telegram, WeChat and Discord. Consultants say decentralized is the longer term.
