DefiLlama was first introduced around October 2020 on defillama.com. A virtually identical website, llama.fi, has been launched.
A member of the DefiLlama project, 0xngmi, stated on March 19 that most of the team had launched the second site due to a hostile takeover. He explained that an ongoing attempt is being made to establish a cryptocurrency token without team approval.
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
Use https://t.co/G0h4uBo2mL and @llamadotfi instead!
— 0xngmi (llamazip arc) (@0xngmi) March 19, 2023
Tendeeno, another member, stated that 0xngmi’s statements were valid. He further suggested that 0xLlam4 is the only individual endeavouring to activate the token.
Tendeeno acknowledged that 0xLlam4 created DefiLlama, but stated that, after joining the team, 0xngmi assumed responsibility for its development. He added that 0xngmi is responsible for salaries, oversees the team, and is the legal majority proprietor of DefiLlama.
The cofounder of DL said they would launch the token **with or without the approval of a single member of the DL team**
That’s why this is being viewed as a hostile takeover of DL… as the project’s value and reputation would be wrapped up in this token.
— Tendeeno (@Tendeeno_) March 19, 2023
Due to a lack of site revenue, 0xLlam4 reportedly intends to introduce a token against the team’s desires. Due to 0xLlam4’s control over the DefiLlama website and Twitter account, other group members cannot actively prevent this outcome.
0xLlam4 has made few public statements, and whether or when he plans to release the purported cryptocurrency token is still being determined. The developer’s Twitter profile is private, and there is no way to contact him.
Both sites offer a leaderboard that lists various DeFi projects and displays the total quantity of crypto secured in these projects. CryptoSlate has utilised the site’s data in several recent reports on liquid staking, stablecoin layer 2 inflows, Cardano’s DeFi network, and Huobi exchange outflows.
Although llama.fi appears to have the support of most of the team; it’s uncertain whether the site will successfully attract users, given that defillama.com has been operational for over two years.
If the two parties agree, the two sites may be reunited.