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DefiLlama Split: New Site Launches Amidst Token Launch Controversy

DefiLlama Split: New Site Launches Amidst Token Launch Controversy

DefiLlama, a site for decentralized finance data, is facing leadership disputes as a team member attempted to launch a token without approval from the wider group.

As a result, a new site, llama.fi, has been launched, almost identical to the original site launched in October 2020, defillama.com.

0xngmi, one of the members of DefiLlama, claimed that the second site was launched due to a “hostile takeover” by most of the team, as there was an attempt to launch a crypto token without their consent.

Another member, Tendeeno, supported 0xngmi’s statements and mentioned that only one individual, 0xLlam4, was attempting to launch the token.

While 0xLlam4 created DefiLlama, Tendeeno asserted that 0xngmi was responsible for the development, salaries, leads the team, and is the legal majority owner of DefiLlama.

However, due to a lack of site revenue, 0xLlam4 reportedly intended to launch a token against the team’s wishes. Since he controls the DefiLlama website and Twitter account, other group members could not stop this from happening.

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Both defillama.com and llama.fi provides the same main tool: a leaderboard listing various DeFi projects and their total locked crypto. While llama.fi has the support of the majority of the team, it remains unclear if it can attract users, as defillama.com has been operational for more than two years.

The two parties have reportedly resolved the disagreement, and DefiLlama confirmed that no LLAMA token is planned. llama.fi now redirects to defillama.com.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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