DefiLllama, a decentralized finance data site, is disputing 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 circa October 2020 at defillama.com. Now, a nearly identical site has been launched at llama.fi.
0xngmi, one member of the DefiLlama project, said on March 19 that the majority of the team launched the second site due to a “hostile takeover.” He explained that there is an “ongoing attempt” to launch a crypto token without the team’s approval.
Another member, Tendeeno, said that 0xngmi’s statements were legitimate. He further suggested that just one individual — 0xLlam4 — is attempting to launch the token.
Tendeeno acknowledged that 0xLlam4 created DefiLlama but said that 0xngmi became responsible for development after joining the team. He also asserted 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 site revenue. Because 0xLlam4 controls the DefiLlama website and its 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 does not appear to be any means of contacting the developer.
Which site will survive?
Both sites currently provide the same main tool — a leaderboard that lists various DeFi projects and displays the total amount of crypto locked in those projects. CryptoSlate has used the site’s data in many recent reports on topics such as liquid staking, stablecoin layer 2 inflows, Cardano’s DeFi network, and Huobi exchange outflows.
While llama.fi appears to have majority team backing, it is unclear whether the site will succeed in attracting users given that defillama.com has operated for over two years.
The two sites may be reunified if the two parties come to an agreement.
Read the full article here
Discussion about this post