DeFi Llama will not launch its own token

The DeFi Llama team said there are no plans to issue a token, a move that sparked an internal conflict with the emergence of a fork of the analytics platform.

1/3 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.

— DefiLlama.com (@DefiLlama) March 20, 2023

“The DeFi Llama team would like to apologise for the events that unfolded yesterday as a result of ineffective communication and misunderstanding within the team,” the statement read.

On the eve of the launch, a pseudonym 0xngmi announced on behalf of the team the launch of a fork of DeFi Llama named llama.fi. He cited disagreements with the decision to issue the token, made by “the person who controls the Twitter account and the defillama domain.”

The new platform was an exact copy of DeFi Llama. As of writing, the llama.fi domain automatically redirects to the original platform.

“We would like to put what happened behind us. The LLAMA token is not currently planned, and any airdrops will be discussed with the community, as with every important decision,” the team assured.

2/3 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.com (@DefiLlama) March 20, 2023

The platform’s team emphasised that it intends to adhere to a more transparent policy to avoid recurrence of the events. All divisions within the company behind the project, LlamaCorp, will continue to work on it together.

In early March, the amount of blocked funds in DeFi protocols fell to $41.7 billion, with Lido leading at $8.41 billion, according to DeFi Llama.