DeFiLlama Founder Announces Hostile Takeover and Fork of DefiLlama Due to Token Launch Against Team’s Wishes

The crypto data analytics firm, DefiLlama, has revealed a conflict within the project team over the issuance of a new token. DefiLlama is a popular aggregator for decentralized finance (DeFi) projects and protocols, providing users with real-time data on liquidity and other important metrics across various platforms.

On the evening of March 19th, the crypto community on Twitter was shocked to learn that a portion of DefiLlama’s team had decided to fork the project due to disagreements over the token issuance decision. In a tweet from the account of 0xngmi, one of DefiLlama’s co-founders and a prominent representative of the platform, the news was revealed: “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 http://llama.fi and @llamadotfi instead!”

According to 0xngmi, the individual in control of DefiLlama’s website and official Twitter account has decided to proceed with the token issuance despite opposition from a group of team members. As a result, some members of the team, who have been involved in building DefiLlama over the past three years and have no financial interest in the project, have decided to fork the project and launch their own initiative under the name Llama.fi.

The new platform, Llama.fi, has a similar interface and functionality to DefiLlama.com. 0xngmi also warned the community not to trust any communication or token from @Defillama or Defillama.com. The tweet read, “That is why we (the DefiLlama team who have built the site you all know and love for the past three years) have decided to fork Defillama and start fresh on http://llama.fi and @llamadotfi. DO NOT TRUST ANY COMMUNICATION OR TOKEN FROM @Defillama or Defillama.com.”

In response, a “rookie employee” of DefiLlama’s Twitter account claimed that 0xngmi and a few team members had gone rogue and were actively seeking to seize DefiLlama’s intellectual property and community while falsely claiming the rightful owner was carrying out a hostile takeover.

This conflict within the DefiLlama team comes after the platform announced on its official Twitter account earlier in the day that it would be launching a new token and airdropping it to the community as a reward for supporting the DefiLlama DEX Meta-Aggregator solution.

Despite only launching in January 2023, DefiLlama DEX Meta-Aggregator has already been a resounding success, with a total trading volume of over $5 billion and over 63,000 users with 410,000 asset swaps.

The average daily user count on the DEX aggregation platform is more than 3,000, with a 24-hour trading volume record of over $600 million on March 11th during the USDC depeg. The Aggregator of DefiLlama navigates users to several DEXs, including Uniswap, PancakeSwap, SushiSwap, and others, allowing them to swap tokens across various liquidity pools seamlessly.

This news has sent shockwaves through the crypto community, with many questioning the future of DefiLlama and the potential impact on the wider DeFi ecosystem. It remains to be seen how this conflict will be resolved and what the future holds for both DefiLlama and Llama.fi.

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