DefiLlama, a popular decentralized finance (DeFi) data analytics platform, has split after one of its founders pushed for the launch of a crypto token. The platform, which tracks a wide range of DeFi protocols and has gained popularity among investors and traders, has been divided over the token launch, with one founder advocating for it and the other opposing it. The split has led to the creation of two separate websites, one supporting the token launch and the other remaining independent. The move highlights the growing interest in DeFi tokens and the tensions that can arise within decentralized communities over their implementation. Investors are watching closely to see how this development will impact the wider DeFi ecosystem.
Decentralized finance data site, DefiLlama, is in the midst of a leadership dispute as one team member attempts to launch a token without wider approval. This has led to the existence of two “llama” sites, defillama.com and a nearly identical site llama.fi.
According to 0xngmi, a member of the DefiLlama project, the majority of the team launched the second site due to a “hostile takeover.” There is reportedly an “ongoing attempt” to launch a crypto token without the team’s approval, which has generated concern among the team members.
Tendeeno, another member of the team, corroborated 0xngmi’s statements and suggested that just one individual, 0xLlam4, is attempting to launch the token. Though 0xLlam4 created DefiLlama, Tendeeno stated 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.
Despite the disagreement among the team members, the two llama sites currently offer the same tool — a leaderboard that lists various DeFi projects and displays the total amount of crypto locked in those projects. Both sites have been used in recent reports by CryptoSlate regarding topics such as liquid staking, stablecoin layer 2 inflows, Cardano’s DeFi network, and Huobi exchange outflows.
Although llama.fi appears to have the majority team backing, it remains unclear whether it will be able to attract users given that defillama.com has been in operation for over two years. There is a possibility that the two sites may be reunified if the two parties come to an agreement.
In conclusion, it is crucial for the DefiLlama team to reconcile their differences and establish a clear leadership structure to avoid any future disputes that may affect the site’s growth and reputation. It is also essential for crypto enthusiasts to monitor this situation carefully and determine the long-term ramifications for DefiLlama and the wider DeFi ecosystem.