HomeNEWSDeFiLlama debunks creation of native token, urges for cooperation among team members

DeFiLlama debunks creation of native token, urges for cooperation among team members

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Prominent Decentralized Finance Analytical Firm, DeFiLlama has called for cooperation following a rift with members of staff. In an announcement via Twitter on March 20, 2023, the DeFiLlama team apologized for what transpired, citing a breakdown in communication within its team.

As stated in the announcement, the firm urged members of staff to move on from what transpired yesterday. Also, the announcement dislodged the creation of the LLAMA token. Further, the team explained that any future airdrop and other crucial decisions will be communicated to its community in due time. DeFiLlama promised to embrace a transparent decision-making process to avoid any future occurrence of a similar degree.

Insights into the crisis

The internal crisis that rocked the DeFi analytical firm threatened to fork its platform. Recall that the dispute surfaced on March 19, 2023. Then, a prominent developer working with DeFiLlama, Oxngmi tweeted that the firm is experiencing a hostile takeover. In the tweet, the developer faulted the firm’s decision to launch a native token (LLAMA) without the due knowledge of members of staff.

Additionally, Oxngmi stated that the move to inaugurate the token doesn’t represent the interest of members of the DeFiLlama staff. Thus, prompting them to disassociate themselves from the project. More so, the developer urged community members to ignore any communication or token from the firm. Oxngmi said the DeFiLlama team decided to fork the platform while providing community members with alternative channels.

A pseudonymous Twitter user identified as Tedeeno who claimed to be a contributor to projects belonging to Llama Corp. illuminated how the platform has never recorded any revenue. Due to that, those relating to the firm are divided about mending the shortcoming. The pseudonymous developer explained that the attempt to record revenue through the platform led to the proposed creation of the token, more to the dismay of some team members.

Resolution of the DeFiLlama’s crisis

In response, the DeFiLlama accused Oxngmi and some team members of going “rogue.” Stating that they are pursuing the seizure of DeFiLlama IP and its community, claiming rightful owners of the project. However, upon the resolution, Oxngmi and other team members will remain aboard as Llama.Fi has been redirected to DeFiLlama.

Confirming the development, Tendeeno said the crisis has been settled and the platform will run as usual. The contributor cited the importance of solving the issue off public domain. Lastly, Tendeeno stated that everyone relating with DeFiLlama is happy about the resolution of the crisis.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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