DefiLlama Said The Team Was Being Taken Over And Urged To Split Over Token Issuance

Key Points:

• A faction of the DefiLlama team stated their intention to split up because they disagreed with the choice to distribute tokens.
• The acknowledged people who have worked on over the past three years without financial benefit have decided to split it off as their own enterprise under the name Llama.fi.

DefiLlama, one of the crypto industry’s most well-known data statistics units, abruptly stated that there was a debate inside the project about the subject of private token issuance.

On the evening of March 19, the crypto world was stunned to learn that a portion of the DefiLlama team had decided to split because they disagreed with the choice to issue tokens.

Particularly, the Twitter account of 0xngmi, one of the founders of DefiLlama and widely regarded as the site’s spokesman, announced that “The DefiLlama team will divide the project. The project is now being divided by DefiLlama usurped.”

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

0xngmi also mentioned that the person in control of the website and the official Twitter account for the project made the decision to issue the token notwithstanding the protestations of another party. As a consequence of this, a segment of the team that has been validated by 0xngmi as having worked on the company for the preceding three years without receiving any financial gain decided to break out and form their own project, which they have given the name Llama.fi.

Also, 0xngmi confirmed the aforementioned statement inside the renowned LobsterDAO group of the DeFi community, proving that it was not a hacked Twitter post. As a response to this, DefiLlama’s “apprentice” took to Twitter to accuse 0xngmi of unilaterally separating, wilfully hijacking the intellectual property rights associated with the DefiLlama brand, and presenting material that was false.

Earlier, on March 19, the official Twitter feed indicated that it would create its own token and airdrop it to the community of this platform’s supporters who are interested in liquidity aggregator solutions.

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