There was an overarching atmosphere of misappropriation as well as general unease among DeFi Llama team members. But, at present, all the issues appear to have been peacefully resolved, and everything seems to be well and back on track. All of this information was effectively communicated through a tweet from their headquarters. This incident again highlights the underlying differences between team members in terms of their roles and duties in the crypto space. Even though decentralization is highly regarded, shared ownership in the case of projects does not naturally mesh well with real-time assets, such as the Twitter account and the Discord server.
On the 15th of March, 2023, Oxngmi announced in a tweet that they were in the process of deploying another domain to deflect a takeover bid. A token’s delivery was sped up in part due to this. However, the team members working with DeFi Llama did not take well to this. The source of disagreement was that the organization required to give a token also had control of DeFi Llama’s domain name and Twitter account. In order to show the current state of solidarity, the llama.fi domain, which Oxngmi accidentally provided in the form of a fork of DeFi Llama, is now redirecting to the earlier website.
According to the CTO, Joseph Delong, of Astaria, which happens to be an NFT lending protocol, this problem occurs because of the team size of a project. In his opinion, a large team means more time spent sorting out matters simply because there are more minds involved. Where Delong is concerned, previously he happened to have been the CTO at SushiSwap. This is an entity that is a famous decentralized exchange (DEX). According to him, even after having parted ways with the entity, he still had administrative charge of the Discord server for the project.
This unfortunate incident with DeFi Llama seemingly highlights the obstacles that crypto projects come up against in trying to control assets that are not native to blockchains. In the case of SushiSwap, they were forced to build a legal body, along with an entire array of difficulties arising out of the management of the company’s assets, such as the Sushi.com website.
DeFi Llama is a subsidiary of Llama Corp. The overarching structure of this entity, which consists of various projects, is not well defined. It is currently experiencing a certain loss of revenue since it lacks a well-defined business strategy. According to Delong, there is room for DeFi to monetize itself, and it must do so in order to keep the business engine operating.