DefiLlama website splits as founder pushes for crypto token launch
DefiLllama, a decentralized financial data website, is contesting its leadership as a single team member has attempted to launch a token without wider approval.
Two “llama” sites now exist
DefiLlama was originally launched around October 2020 at defillama.com. Now an almost identical site has been launched on llama.fi.
0xngmi, one member of the DefiLlama project, spoke up March 19th that the majority of the team launched the second site because of a “hostile takeover.” He explained that there is an “ongoing attempt” to launch a crypto token without the team’s approval.
Another member, Tendeeno, saw it 0xngmi’s statements were legitimate. He further suggested that only one person – 0xLlam4 – is trying to launch the token.
Tendeeno acknowledged that 0xLlam4 created DefiLlama, but said that 0xngmi became responsible for development after he joined the team. He also claimed that 0xngmi is responsible for salaries, leads the team and is DefiLlama’s legal majority owner.
0xLlam4 reportedly intends to launch a token against the team’s wishes due to a lack of revenue from the site. Because 0xLlam4 controls the DefiLlama website and Twitter account, other members of the group cannot directly prevent this outcome.
0xLlam4 has made few public statements, and it is unclear if or when he intends to release the alleged crypto token. His Twitter profile is currently private and there doesn’t appear to be any way to contact the developer.
Which site will survive?
Both sites currently offer the same main tool — a leaderboard that lists various DeFi projects and shows the total amount of crypto locked in those projects. CryptoSlate has used the site’s data in many recent reports on topics such as floating stakes, stablecoin layer 2 inflows, Cardano’s DeFi network, and Huobi exchange outflows.
Although llama.fi appears to have the support of the majority of the team, it is unclear whether the site will succeed in attracting users given that defillama.com has been operating for over two years.
The two websites can be reunited if the two parties come to an agreement.
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