A decentralized cryptocurrency data site is split in two due to a disagreement between administrators. Tensions are high as Charlie Watkins, founder of DeFi platform DeFiLlama, faces backlash for his decision to launch a token against his team’s wishes. The situation escalated to the point where efforts to take over the DeFiLlama team “forked” the project began. This development even caught the attention of Andre Cronje, who has been called the “father” of DeFi. Here are the details…
Dispute on the cryptocurrency platform
The DefiLllama team is experiencing controversy as a single team member tried to launch a token without the approval of the others. cryptocoin.com As we have also reported, DefiLlama was first launched in October 2020 on the website “defillama.com”. Now, a site almost identical to “llama.fi” has been launched. 0xngmi, a member of the DefiLlama project, said on March 19 that the majority of the team launched it because of the hostile thought of “taking over” the second site. He also explained that those who opened the second site “attempted” to launch a cryptocurrency without the approval of the team.
Another member, Tendeeno, said that 0xngmi’s statements were legitimate. It also suggested that only one person tried to launch the -0xLlam4- token. Tendeeno acknowledged that Charlie Watkins, aka 0xLlam4, created DefiLlama, but said that 0xngmi was responsible for the development after joining the team. He also claimed that 0xngmi is in charge of salaries, leads the team, and has a legal majority in DefiLlama.
Which site will survive?
0xLlam4 is reportedly planning to launch a token against the team’s wishes due to a lack of site revenue. Since 0xLlam4 controls the DefiLlama website and Twitter account, other members of the group cannot directly block this result. Founder 0xLlam4 made a public statement and it is unclear whether he is even planning to launch the alleged crypto. His Twitter profile is currently private and there doesn’t seem to be any way to contact the developer.
Both sites currently offer the same data. They list various DeFi projects and show the total amount of crypto locked in those projects. While Llama.fi seems to have team support, it’s unclear whether the new site will be able to attract users, given that defillama.com has been in operation for over two years. The two sites can be re-merged if the two parties come to an agreement.
Andre Cronje made a statement on the subject
The situation caught the attention of Andre Cronje, Director of the Phantom Foundation, which supports founder 0xLlam4, aka Watkins. In a tweet, Cronje defended Watkins, stating that “it’s easy for those who don’t pay the bills to think ideologically.” He stated that Watkins had spent years paying for DeFiLlama out of his own pocket and said it was “disgusting” to watch everyone turn their backs on him. Cronje also argued that Watkins’ decision to launch a token was driven not by greed, but rather by a desire for sustainability.
He points out that without Watkins’ financial support, DeFiLlama would have to find new sources of income, such as raising funds or adding ads. The case highlights the challenges that arise when teams have a conflict of interest. On the one hand, Watkins has invested a significant amount of money in DeFiLlama and is understandably looking for ways to keep the project going. On the other hand, the rest of the team is concerned about the impact of launching a token on the reputation and long-term viability of the project.
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