This article comes fromTwitter, original author: LlamaX project core contributor @Tendeeno

Odaily Translator |

Odaily Translator |

On March 19, 0x ngmi, the founder of the on-chain analysis platform DefiLlama, announced that his team had split because of whether to issue tokens, and has now launched a forked version of the website Llama.Fi. So, what is the ins and outs of this matter? LlamaX project core contributor @Tendeeno summarized what happened to DeFiLlama in a relatively fair way on social media——

In fact, the crypto community should all know that DefiLlama is not the only llama project, there are also llamanodes, llamanews, and llamafolio, etc., all of which operate completely independently. But in contrast, the success of DeFiLlama (DL) can be said to be 100 times that of any other project (of course, other projects also have very talented teams, and I believe they will definitely succeed), and now the value of DeFiLlama has been Almost accounts for more than 95% of the value of all "LlamaCorp" projects.

DefiLlama was initiated by 0x LLam 4, 0x ngmi helped build it, and soon 0x ngmi took over all the work of the project. It is no exaggeration to say that for DefiLlama's current success, 0x ngmi has taken at least 90% of the responsibility. He not only led The DefiLlama team is also the major shareholder of DefiLlama.

However, the current problem is: DefiLlama has not generated any profit so far, and this is something the whole team is working on... But another co-founder (0x LLam 4 ) felt that he could not wait any longer, so he gave A quick and profitable solution: launch DL tokens.However, the team headed by 0x ngmi has always opposed the issuance of tokens. They feel that tokens are fundamentally worthless becauseDefiLlama is not a protocol and tokens cannot legally be a form of equity.

Not only that, once the token price drops, people's attention will not be on the DefiLlama platform, but just on the price number.

0x LLam 4, the co-founder of DefiLlama, did not accept 0x ngmi's explanation, and still insisted that the token will be launched regardless of whether it is approved by the DefiLlama team. In 0x ngmi's view, this behavior is undoubtedly a "hostile takeover" of DefiLlama... because he does not want the value and reputation of the project to be included in the token.

While it's possible the token won't launch subject to the approval of the team, what 0x ngmi didn't expect was that the "DL Token" had already launched and code had been written to support it (DefiLlama co-founder 0x LLam 4 didn't tell anyone ). 0x ngmi believes that if the token is issued, there is really no going back, it will forever tarnish DefiLlama's reputation and kill everything they have worked so hard to build over the years.

The real problem is that the co-founder already controls DefiLlama's official twitter and domain name, which means they can announce a token launch at any time. Essentially, the development team of DefiLlama has been kidnapped as a "hostage", so the DefiLlama team decided to:

If DL token issuance is inevitable, the only way is to fork DefiLlama with a new name and create a new twitter and domain name.

And this is why you see the DeFiLlama team announcing that they are forking the project to Llama.fi.

Over the next few days, the crypto community will likely see various contributors and employees at llamacorp going back and forth over who is right and who is wrong. Frankly, it sucks to get to this point for everyone involved. It should be noted that the DefiLlama team is still working hard to find a solution. The best case scenario is that this was a huge misunderstanding between the teams and things can be resolved amicably in the end.