Home - DeFi News - DefiLlama Co-Founder Exposes Internal Rift over Token Launch-What’s Going On?

James Carter

March 21, 2023

DefiLlama Co-Founder Exposes Internal Rift over Token Launch-What’s Going On?

An internal disagreement amongst key members of the DefiLlama team has been revealed, which has raised the possibility of a hostile takeover of the DefiLlama decentralized finance (DeFi) resource.

According to multiple anonymous users of Twitter, the disagreement within the company is connected to the creation of a token for DefiLlama called LLAMA. This token is going to be published by the senior management of DefiLlama without the backing of important staff, according to the allegations.

The information regarding the fork and the launch of the token was initially provided on Twitter by an unknown DefiLlama developer who went by the handle 0xngmi. The developer stated that the new token “does not represent us.” In the same Twitter discussion, he made another suggestion, which was that the fork was the consequence of the acts of a single person:

DefiLlama Co-Founder Exposes Internal Rift over Token Launch – What’s Going On?

Later on in the conversation, 0xngmi revealed that the group of developers who were responsible for creating DefiLlama has now made the decision to move on from the original project and join a freshly forked project instead.

He posted, “DO NOT TRUST ANY COMMUNICATION OR TOKEN FROM @Defillama or Defillama.com,” stressing that the person who needs to launch a token now controls those two channels. “DO NOT TRUST ANY COMMUNICATION OR TOKENS FROM DEFILLAMA.COM,” he added.

The developer, who wished to remain anonymous, indicated that going forward, users should access the site by going to llama.fi, with the Twitter username @llamadotfi. According to what he stated, this is the new platform that the developers “who have constructed the site you all know and love” have created by forking off of DefiLlama.

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Twitter user Tendeeno, who is said to be a developer on the same projects under the Llama brand, declared that 0xngmi is “at least 90% responsible for the success [DefiLlama] is today.” This statement was made in support of 0xngmi.

In addition to this, he revealed that the co-founder of DefiLlama had stated that the LLAMA token would launch “with or without the agreement of a single member of the DL teams,” and he stated that this is the reason why it is considered “a hostile takeover.”

DefiLlama Co-Founder Exposes Internal Rift over Token Launch

DefiLlama is a tool for measuring different DeFi data, such as the pricing of tokens, the trading volumes, and the total values locked (TVL) on different DeFi protocols. The software development platform, which is a component of the Llama Corp. developer collective, makes the claim that it has more than 10 million monthly users.