Last Updated: 20 March 2023
An internal conflict has broken out between employees at blockchain data platform DefiLlama over the company’s future direction. The dispute centers around the launch of a new token that some employees claim was launched without their support. A top contributor to DefiLlama’s app on Github, 0xngmi, forked a version of the platform and accused the company’s founders of launching a token that did not represent the team.
Accusations of Token Launch Without Approval
0xngmi verified on-chain that their account had not been hacked and publicly stated on Twitter, “There is an ongoing attempt to launch a token that does not represent us. We don’t want to be associated with it.” According to two DefiLlama contributors on Twitter, the decision to launch the token went against the wishes of most of the team. They also claimed that the person pushing for the token was in control of the website and Twitter account.
Rogue Employees and Denials
DefiLlama’s parent company, Llama Corp., has denied that a hostile takeover is underway and suggested that 0xngmi’s actions are independent. However, DefiLlama’s intern and the company’s Telegram account referred to 0xngmi and other team members as having “gone rogue.”
Seeking a Resolution
DefiLlama’s co-founders, Charlie Watkins and Ben Hauser, maintain low profiles, and many of the company’s employees use pseudonyms. The company has stated that it plans to “resolve things privately and amicably” and will continue operating DefiLlama as it has done for the past three years.
The internal conflict at DefiLlama highlights the challenges that arise when a company attempts to launch a token without the support of its employees. The situation also highlights the importance of transparency and communication in corporate decision-making processes. As the cryptocurrency industry continues to evolve, it will be interesting to see how companies navigate these challenges and the impact they have on the wider ecosystem.
Investors in the cryptocurrency space should pay close attention to how companies handle internal conflicts and decision-making processes, as these can have a significant impact on the success and sustainability of a project. To stay up to date with the latest developments in the industry, investors can turn to reputable trading platforms like Bitsoft 360 or Biticodes, which provide access to a wide range of cryptocurrencies and investment opportunities. As the industry continues to evolve and face new challenges, it is important for investors to stay informed and adapt their strategies accordingly.