DefiLlama Website Splits as One Founder Pushes for Crypto Token Launch

DefiLlama was first introduced in October 2020 at defillama.com. A very comparable site, llama.fi, has now been launched.

On March 19, 0xngmi, a DefiLlama project member, stated that the bulk of the crew launched the second site owing to a “hostile takeover.” He stated that there is a “ongoing endeavor” to issue a crypto coin without the agreement of the team.

Tendeeno, another member, stated that 0xngmi’s claims were true. He further claimed that only one person, 0xLlam4, is attempting to launch the token.

Tendeeno confirmed that DefiLlama was invented by 0xLlam4, but claimed that 0xngmi took over development after joining the team. He further claimed that 0xngmi is in charge of salaries, leads the team, and is the legal majority owner of DefiLlama.

Due to a lack of site revenue, 0xLlam4 is purportedly planning to create a coin against the team’s preferences. Other members of the group cannot directly avoid this outcome because 0xLlam4 controls the DefiLlama website and Twitter account.

0xLlam4 has made few public announcements, and it is uncertain whether or when the alleged crypto token will be released. His Twitter account is temporarily private, and there appears to be no way to contact the developer.

Both sites presently offer the same core tool: a leaderboard listing numerous DeFi projects and displaying the total amount of crypto locked in those projects. Many recent studies on themes such as liquid staking, stablecoin layer 2 inflows, Cardano’s DeFi network, and Huobi exchange outflows have made use of the site’s statistics.

While llama.fi looks to have the support of the majority of the team, it is unclear whether the site will be successful in drawing users considering that defillama.com has been in operation for almost two years.