Shalini Nagarajan

Blockchain data provider DeFi Llama has walked back claims about an internal conflict that led to the split of its website and Twitter handle.



0xngmi, a member of the project said to be responsible for 90% of DeFi Llama’s success, initially claimed on Twitter that the team was undergoing a “hostile takeover” as another member wanted to launch a token. Apparently, this was a move the rest of the team didn’t approve of.



But late on Monday, 0xngmi provided an update to say the <a href="https://twitter.com/0xngmi/status/1637425043482222599" target="_blank" rel="noreferrer noopener">argument</a> had been resolved, the fork had been canceled, and the website would continue to work on a single <a href="http://defillama.com/" target="_blank" rel="noreferrer noopener">domain</a>.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">For everybody who is asking: everything has been solved and all work will continue on <a href="https://t.co/8b11M6Yk9u">https://t.co/8b11M6Yk9u</a>, <a href="https://t.co/G0h4uBo2mL">https://t.co/G0h4uBo2mL</a> will just be redirecting there&mdash; 0xngmi (llamazip arc) (@0xngmi) <a href="https://twitter.com/0xngmi/status/1637955928887533570?ref_src=twsrc%5Etfw">March 20, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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DeFi Llama <a href="https://twitter.com/DefiLlama/status/1637910941550489605" target="_blank" rel="noreferrer noopener">confirmed</a> the development via Twitter, apologizing for “poor communication” and “misunderstanding within the team.” 



“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,” the project said.



“We will take steps to operate in a more transparent manner to ensure this doesn&#8217;t happen again.” It added that each arm of LlamaCorp would cooperate with the other.



The team caused quite a stir over the weekend after 0xngmi and another individual contributor Tendeeno openly indicated on Twitter that DeFi Llama’s co-founder 0xLLam4 didn’t care about the opinions of the rest of the team.



Tendeeno had said DeFi Llama was the most successful project under the LlamaCorp umbrella, which includes other services like DL News and LlamaPay. Developments surrounding the conflict have not affected DL News, and it continues to be business as usual at the new outlet, according to a person familiar with the matter.&nbsp;



However, DeFi Llama itself was not generating revenue, which is why the co-founder thought launching a token would solve this.&nbsp;



Tendeeno said the team didn’t want this because “the project’s value and reputation would be wrapped up in this token.” He further claimed that the co-founder behind the hostile takeover had not contributed any work to DeFi Llama and had not paid employee salaries.&nbsp;



DeFi Llama did not comment on the claims laid out in Tendeeno’s tweets.



Tendeeno added to the narrative late Monday, saying the team wants to move on without continuing the conversation publicly, “but rest assured everyone at DL is happy with the outcome.”



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DeFi Llama Quells Internal Squabbles, Scraps Token Launch Plans

Sebastian Sinclair

<div id="highlights-block_62676e04e4580" class="highlights">
 <ul>
 <li>SpaceX and Tesla CEO Elon Musk has reached a deal with Twitter&#8217;s board of directors to buy the platform</li>
 <li>The $44 billion deal is expected to close sometime this year, subject to the approval of Twitter&#8217;s shareholders</li>
 </ul>
 
</div>



Major social media platform Twitter said Monday it had entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk in a deal worth $44 billion.



Under the terms of the deal, Twitter shareholders are to receive&nbsp;$54.20 per share in cash for each share of Twitter common stock that they own, according to a <a href="https://www.prnewswire.com/news-releases/elon-musk-to-acquire-twitter-301532245.html" target="_blank" rel="noreferrer noopener">press release</a>.



The deal has been unanimously approved by Twitter&#8217;s Board of Directors and is expected to close sometime this year, subject to the approval of the platform&#8217;s stockholders.



Upon the deal&#8217;s completion, Twitter is expected to transition to a privately held company, ending its nine-year run as a publicly listed company on the New York Stock Exchange.



The buyout represents a 38% premium to Twitter&#8217;s closing stock price on April 1 — the final day Musk unveiled his 9% stake in the social media company.



Musk has secured&nbsp;$25.5 billion&nbsp;of fully committed debt and margin loan financing while providing an approximately&nbsp;$21.0 billion&nbsp;equity commitment, per the release.



A major platform for the crypto community, Twitter is often both been praised and reviled for its approach to content moderation, freedom of speech (or lack thereof) and user profile anonymity. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">I hope that even my worst critics remain on Twitter, because that is what free speech means&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1518623997054918657?ref_src=twsrc%5Etfw">April 25, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Musk — who is estimated to be worth upwards of $268 billion, according to <a href="https://www.forbes.com/profile/elon-musk/?sh=7f05142c7999" target="_blank" rel="noreferrer noopener">Forbes</a> — said he wanted to improve Twitter through the introduction of new features, provide an open-source algorithm for the platform and tackle its spambots.



&#8220;Free speech is the bedrock of a functioning democracy and Twitter is the digital town square where matters vital to the future of humanity are debated,&#8221; Musk said in the release.



There are also reportedly plans to turn the platform into a <a href="https://www.reuters.com/technology/exclusive-twitter-set-accept-musks-best-final-offer-sources-2022-04-25/" target="_blank" rel="noreferrer noopener">subscription-based model</a> to bolster revenue and recoup some of Musk&#8217;s initial investment, according to Reuters&#8217; reporting.



Whether that would appease the crypto community or drive users to seek alternatives remains to be seen. Musk, whose Twitter musings about crypto — <a href="https://twitter.com/elonmusk/status/1113009339743100929?s=20&amp;t=jrmg8dS0He5IpDA6OAx-UA" target="_blank" rel="noreferrer noopener">particularly Dogecoin</a> — have resulted in the wild oscillation in prices, is often viewed as both an inflammatory and influential figure within the community.



In January, Dogecoin payments on electric car company Tesla’s online shop <a href="https://cms.blockworks.co/tesla-launches-dogecoin-payments-in-online-shop-price-jumps-17/" target="_blank" rel="noreferrer noopener">went live</a>&nbsp;for select items. At the time, the price of Doge shot up more than 17% within a 24-hour period.



Following a purchase of $1.5 billion worth of bitcoin last year in March, Musk announced via Twitter that Tesla would be accepting bitcoin as payment for vehicles before reneging two months later, citing environmental concerns.



On both occasions, bitcoin&#8217;s price movements coincided closely with Musk&#8217;s announcements, gaining 48% and then subsequently shedding 40% two months later.



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