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


  • 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”

As a result of this decision, 0xngmi launched the website 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

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.”

This article originally appeared here.

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