DefiLllama, a decentralized financial data site, is challenging its leadership because only one team member attempted to launch a token without broader approval.
Two “lama” sites now exist
DefiLlama was initially launched around October 2020 on defillama.com. Now an almost identical site has launched on llama.fi.
0xngmi, a 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 team approval.
Another member, Tendeeno, says that 0xngmi’s statements were legitimate. He further suggested only one individual – 0xLlam4 – attempts to launch the token.
Tendeeno acknowledged that 0xLlam4 created DefiLlama but said that 0xngmi became head of development after joining the team. He also claimed that 0xngmi is responsible for salaries, leads the team and is the majority legal owner of DefiLlama.
0xLlam4 reportedly intends to launch a token against the team’s wishes due to a lack of revenue from the site. Since 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 it intends to release the alleged crypto token. His Twitter profile is currently private and there doesn’t seem to be a way to contact 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 data from the site in numerous recent reports on topics including liquid staking, stablecoin layer 2 inflows, Cardano’s DeFi network, and Huobi exchange outflows.
While llama.fi appears to have majority team support, it is unclear whether the site will be successful in attracting users given that defillama.com has been in operation for over two years.
The two sites can be reunited if the two parties reach an agreement.