A dispute has occurred in DefiLlama’s decentralized finance (DeFi) analytics dashboard, leading to the platform being forked by one of its employees over the weekend.
The dispute centers on the company’s plans to issue tokens. On March 19, the developer of the pseudonym DefiLlama 0xngmi announced that the company’s team had destroyed the platform, which “carried out a hostile takeover”, accusing the founders of DefiLlama of launching the token without the support of employees.
Team DefiLlama broke Defillama@Defilama they are experiencing a hostile takeover
There is an attempt to launch a token that does not represent us. We don’t want to be associated with it
Use https://t.co/G0h4uBo2mL and @lamadotfi to change!
— 0xngmi (flamazip arc) (@0xngmi) March 19, 2023
According to 0xngmi, the person who controls Twitter and the defillama domain decided to launch the token “despite everyone in the team not wanting it,” said the developer before adding that “the DefiLlama team has built the site. […] for the past three years have decided to fork Defillama and start a new one at llama.fi.”
“Long story short, someone planned to launch the LLAMA token without the approval of a single person on the defillama team,” said on Twitter using the pseudonym Tendeeno, claiming to be a contributor to several projects of Llama Corp., DefiLlama’s parent company.
Cointelegraph reached out to 0xngmi and Llama Corp., but did not receive an immediate response. On the Telegram channel, Llama Corp.
“0xngmi and some team members have gone rogue, they are actively trying to seize the IP of DefiLlama and the community while inaccurately claiming the rightful owner is doing a hostile takeover.”
Several Twitter users showed their support for DefiLlama founders Charlie Watkins and Ben Hauser. DeFi architect and founder of Yearn.finance Andre Cronje said:
“It’s easy to be ideological when you don’t pay the bills. Charlie has been out of pocket all the expenses of defillamas for years, it’s not cheap. Watching everyone turn on everything they’ve done is disgusting. They’re trying to stop the bleeding not greed, but sustainability. Let’s see how long will it take without “free money”. They will add or add ads or tokens quickly.”