A fight has erupted among the partners of DeFiLlama (DL), the leading llama project in the decentralized finance (DeFi) space. The dispute centers around a proposed token launch, which has caused a rift within the DL team and led to the forking of the project to a new name, llama.fi.
DL is part of the LlamaCorp group of companies, which includes llamanodes, llamanews, and llamafolio. However, DL is the most successful of these projects, accounting for over 95% of the group’s value. It was founded by 0xLLam4 and later joined by 0xngmi, who is credited with being at least 90% responsible for DL’s success.
The problem arose when 0xLLam4 decided to launch a DL token, despite the DL team’s opposition to the idea. The team argued that the token would not have any value as DL is not a protocol, and tokens cannot legally be a form of equity. They also pointed out that tokens could distract people with “y number go down” messages.
However, 0xLLam4 was determined to launch the token, even if it meant going against the wishes of the rest of the team. This caused concern among the team as the project’s value and reputation would be tied up in the token.
The DefiLlama team is forking Defillama@Defillama is undergoing a hostile takeover
There is an ongoing attempt to launch a token that does not represent us. We don’t want to be associated with it
— 0xngmi (llamazip arc) (@0xngmi) March 19, 2023
To avoid being associated with the token launch, the DL team decided to fork the project to a new name, llama.fi. This decision was made because 0xLLam4 had control of the DL Twitter and domain, meaning they could announce the token at any time and essentially hold the team hostage.
The DL team’s decision to fork the project has been met with mixed reactions from other LlamaCorp companies. Some employees and contributors have expressed support for the move, while others have criticized it. The dispute has yet to be resolved, and it remains to be seen how it will impact the future of the LlamaCorp group.
While the DL team is still working to find a resolution, the situation has created a difficult and uncertain time for everyone involved. The best-case scenario is that this dispute can be resolved amicably, but it is clear that the road ahead will not be easy. Further developments are expected to emerge in the coming days, shedding more light on this contentious situation.
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Going to try my best to give a TLDR on whats happening at DeFiLlama in an unbiased way
remember, i’m just a small unpaid contributor, not on any official team, etc. I just like the llamas and want to see them succeed
So here’s my best attempt:
— Tendeeno (@Tendeeno_) March 19, 2023