DefiLlama resolves internal conflict, quelling ‘hostile takeover’ accusations

Decentralized finance (DeFi) analytics platform DefiLlama has resolved an internal conflict that threatened to result in a “forking” of the platform.

The issue was first raised by developer 0xngmi, who claimed on Twitter on March 19 that DefiLlama was “undergoing a hostile takeover” due to the launch of a token called “LLAMA” without employee approval or support.

In response, DefiLlama’s parent company accused “0xngmi and a few team members” of attempting to seize its intellectual property and falsely accusing the rightful owner of a hostile takeover.

However, only a day later, the internal conflict appears to have been resolved.

In a Twitter thread on March 20, the DefiLlama team apologized for the incident and blamed it on “poor communication and a misunderstanding within the team.” They also clarified that they were not planning to launch a new token and promised to operate in a more transparent manner to prevent similar incidents from happening again.

0xngmi confirmed that the internal issues had been resolved and they would remain on the team.

Tendeeno, a contributor who primarily works on other projects under the Llama Corp. umbrella, also confirmed that the team had resolved the issues and decided to continue running DefiLlama “as normal.” They assured everyone that the team was happy with the outcome.

Who Is Oxngmi?

Oxngmi is an anonymous tech entrepreneur and creator of on-chain data analytics, DeFiLlama, and the NFT lending platform Llamalend. Very little personal information about the crypto solutions provider is known, yet his platforms continue to make waves in the crypto industry.

Oxngmi’s DeFi Llama remains one of the largest TVL aggregators to track popular chains and their dApps. Defi Llama uses TVL to show which protocols are the largest and how they develop over time. It focuses on fully open-sourced, accurate data.

The data is maintained by a dedicated team from their respective DeFi protocol communities and coordinated through DeFi Llama’s GitHub repo. As such, the dashboard is a reliable representation of the DeFi landscape.

Oxngmi’s second project is the nonfungible token (NFT) borrowing and lending protocol designed to solve the problem of NFT holders needing to obtain liquidity when holding their digital collectibles and primarily targeting small NFT collections.