DefiLlama Denies Existence of LLAMA Token, Apologized for Weekend Rumble
On Monday, the decentralized finance analytics platform DefiLlama took to Twitter to clear up a misunderstanding that arose over the weekend. According to today’s thread, there are no plans for the launch of a LLAMA token and the situation resulted from a misunderstanding within the team.
DefiLlama Apologizes for the Weekend Drama
On Monday afternoon the decentralized finance analytics platform DefiLlama explained in a Twitter thread that the weekend drama resulted from a misunderstanding within the team. The post also clarified that there are currently no plans for a LLAMA token and the platform promised that all such developments would be undertaken only after consulting the community:
The DeFiLlama team would like to apologize for the events that unfolded yesterday, as a result of poor communication and a misunderstanding within the team. We would like to put what happened behind us. There is no LLAMA token currently planned, and any airdrop will be discussed with the community, as every important decision is. We will take steps to operate in a more transparent manner to ensure this doesn’t happen again.
DefiLlama keeps tabs on the overall worth of all the assets that have been locked into DeFi protocols across different blockchains. Due to the fact that it enables users and academics to identify which chains are the largest and how DeFi is expanding, the project has gained popularity over the past several years. Furthermore, it can assist cryptocurrency users in finding trending chains, NFTs, or DApps and in rationally choosing investments.
Join our Telegram group and never miss a breaking digital asset story.
Why Was DefiLlama Forked on Sunday?
The internal disagreement at DefiLlama became public knowledge on Sunday, March 19th, when a pseudonymus developer known as 0xngmi announced a fork on Twitter. According to the post, the developers at the time believed that the owners were attempting to push the launch of the so-called LLAMA token without the consent of the community.
As a result, the team created a fork of DefiLlama and stated that their desire was to start fresh at a new address as they didn’t want to be associated with the token. The reactions at the time were mixed with some like DeFi architect and Yearn.finance founder Andre Cronje voicing their support for the supposed launch as they viewed it as a legitimate way to raise capital for continued operations.
Others were more critical of the move calling the launch the owners’ attempt to abuse power and adding they should have considered other options first. The conflict that emerged on Sunday, however, appears to be resolved after today’s announcement, and the developer who intuitively announced the fork, 0xngmi, confirmed the work will resume on the original domain.
Editorial Update (20th March 2023, 8:31 AM EST): The internal dispute has been settled according to the team and the fork was subsequently scrapped.
Do you think domain owners for defi protocols should be allowed to make unilateral decisions if they believe they are to the benefit of the platform? Let us know in the comments below.
