Crypto Drama Unfolds: Employee Forks Company After Hostile Takeover Attempt

DefiLlama, a decentralized finance analytics dashboard, was forked by one of its employees following a dispute over the weekend.

The disagreement arose from the company's intention to launch a token.

On March 19, a pseudonymous developer at DefiLlama known as "0xngmi" revealed that the team was forking the platform, alleging a "hostile takeover" by the founders.

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The developer claimed that the founders had launched a token without the support of the rest of the team.

The DefiLlama team is forking Defillama@Defillama is undergoing 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

Use https://t.co/G0h4uBo2mL and @llamadotfi instead!

— 0xngmi (llamazip arc) (@0xngmi) March 19, 2023

According to 0xngmi, despite opposition from everyone on the team, an individual in control of DefiLlama's Twitter account and website domain chose to launch the token.

As a result, the team who had built the site for the previous three years decided to fork DefiLlama and establish a fresh start on llama.fi.

Raj A. Kapoor, the founder of India Blockchain Alliance, told Benzinga the disagreement highlights the project’s lack of revenue, which in all probability led to the rift between 0xLlam4 and 0xngmi.

"Regardless of how this pans out, the split is for real and I do not see it auguring well for either," he said.

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