River, an on-chain encrypted messaging protocol, has acquired Llama, a Founders Fund-backed sensible contracts platform for decentralized governance.
The acquisition will assist River buttress its governance throughout its ecosystem, with the protocol integrating Llama’s open-source sensible contracts know-how immediately into its numerous platforms.
In keeping with a weblog publish detailing the transaction, leveraging Llama will enable River’s stakeholders, together with node operators and house homeowners, entry to built-in instruments that can bolster governance mechanisms.
As an illustration, node operators or house homeowners can now submit proposals associated to protocol adjustments, with safe and clear voting.
“In brief, this acquisition crystallizes the power for each group to mechanically deploy their very own totally on-chain DAO with a treasury system. By means of this framework, members can talk about and resolve how funds are allotted and easy methods to govern their very own group,” River wrote within the weblog publish.
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River launched in March 2024, introducing a protocol that sought to rework the event of messaging apps. The sensible contracts platform, which operates as a layer-2 blockchain, affords compatibility with the Ethereum Digital Machine.
River sensible contracts on Base permits the protocol’s house creators to deal with options equivalent to pricing, and gate entry.
Llama in the meantime permits protocols to leverage its governance and entry management platform for numerous governance objectives. These embrace managing sensible 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 presently estimated at over $200 billion. In keeping with Ben Rubin, the developer of the Cities platform on River, there’s huge potential for “non-public, ownable and monetizable group chats.”
Dominating the messaging apps market in the present day are WhatsApp, Fb Messenger, Telegram, WeChat and Discord. Consultants say decentralized is the long run.
Learn extra: Privateness skilled slams WhatsApp and Telegram, touts decentralized messaging as future
