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.
https://twitter.com/0xngmi/status/1637425043482222599
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.
READ MORE: Flagstar Bank to Take Over Signature Bank’s Deposits and Loans
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 Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
