DefiLlama is facing an internal dispute as team members face what could be an impending token release. It’s a move that is apparently the request of a reclusive co-founder, and to the dismay of most of DefiLlama’s core team. Now, the creators of one of the most impressive boards in defi have made a sudden change.
The result is the creation of call.fi, a board that many may find familiar. It is the new iteration of the DefiLlama core team that has no interest in launching a token.
DefiLlama and the token perspective
The dialogue really came to light when 0xngmithe main face of DefiLlama, suddenly announced the ‘fork’ of the product on Sunday:
The DefiLlama team is forking Defillama@Defillama is experiencing 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.
Wear https://t.co/G0h4uBo2mL and @lamadotfi instead!
— 0xngmi (flamazip arc) (@0xngmi) March 19, 2023
0xngmi also added an etherscan transaction to confirm that the information was not the result of a Twitter hack.
Another Twitter thread from Llama contributor Tendeeno describes what is widely believed in the crypto community to be the sequence of events to date:
I am going to do my best to give a TLDR about what is happening in DeFiLlama in an unbiased way.
remember, I’m just a small unpaid contributor, I’m not on any official team, etc. I just like llamas and want to see them succeed.
So here is my best attempt:
— Tendeeno (@Tendeeno_) March 19, 2023
Crypto's marketcap has been growing recently as momentum from traditional banking uncertainty has had a push and pull effect with the perceived belief of crypto's ability to retain value. | Source: CRYPTOCAP:TOTAL on TradingView.com
Where do things go from here?
It would not be surprising to see the new Llama.fi product find the traction it needs to continue the positive momentum that DefiLlama was generating. While the product was not making a profit, it is the commitment and development of smart builders who had the best interests of community members at the forefront. We can only imagine that it will carry over to this new dashboard, which offers just as much visual appeal. However, it can be challenging to build a long-term revenue generator, despite offering a premium product; This is probably why members of the core team have been deliberate about their chosen routes to generate income.
Conversely, launching a token at this stage would be pointless, particularly given these decisions by core team members to create the new board. However, reconciliation could also be water under the bridge at this point.
Defi drama has been rife of late as regulations, particularly in (but certainly not limited to) the US, have been at the forefront. Many governments have been exploring the creation of a ‘CBDC’ or central bank digital currency. This has intensified the importance and reliability of defi products.
