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What led to DefiLlama’s ‘hostile takeover’? Developer weighs in

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What led to DefiLlama's 'hostile takeover'? Developer weighs in

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  • Over the weekend, an employee at DefiLlama forked the platform following a disagreement.
  • The crypto Twitter community has blamed the conflict on the project’s lack of revenue.

An employee at DefiLlama forked the decentralized finance analytics dashboard following a dispute within the platform. The conflict revolves around the company’s plans to launch a token.

0xngmi, a pseudonymous DefiLlama developer, announced on 19 March that the team was forking the platform.

DefiLlama was “undergoing a hostile takeover,” according to 0xngmi. The company’s founders launched the token without the support of its employees, the developer added. He asserted:

“The DefiLlama team who have built the site […] for the past three years have decided to fork Defillama and start fresh on llama.fi.”

As a result of this decision, 0xngmi launched the website llama.fi and Twitter account @llamadotfi with over 8,600 followers at the time of writing. Except for the deletion of a few tool links, the new website closely mirrors defillama.com.

Though 0xngmi was the first to assert that DefiLlama was being taken over in a hostile manner, a message posted on a project’s Telegram channel claimed that 0xngmi had “gone rogue” within an hour of the developer’s tweet. The message claimed that Oxngmi and a few others are trying to seize DefiLlama while accusing the owner of a takeover.

Is a lack of revenue behind the fork?

Tendeeno, a pseudonymous DefiLlama contributor, blamed the conflict on the project’s lack of revenue. The contributor opposed the idea of a token launch, claiming that it would be a blot on the project’s reputation. Apart from being against the wishes of an alleged majority of the team, Tendeeno stated that a token launch would impede how the project runs.

 

Another crypto Twitter user Insomniac hoped that the team resolves the issues amicably, given that “DefiLlama is both a loved and well used product.”

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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