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LayerZero proposes to acquire Stargate for $110 million, STG token will be burned
LayerZero Foundation has proposed to acquire the Stargate Finance bridge (STG) for $110 million. If approved, Stargate will become part of #LayerZeroFoundation , the STG token will be burned and may be converted to LayerZero's ZRO token.
Acquisition to strengthen the ecosystem
This proposal aims to unite the two projects, helping #Stargate to implement the proposed development roadmap and strengthen LayerZero's ecosystem. Although previously heavily invested by Alameda Research, the STG token price has significantly decreased. However, after the proposal was announced, both ZRO and STG rose by over 12%, indicating a positive market reaction.
Mixed reactions from the community
Currently, the proposal is still in the community feedback phase and has not yet been officially voted on. Some members of the Stargate DAO believe that the price of $110 million is too low, not commensurate with the value and the trading volume of up to $70 billion that Stargate has handled.
However, LayerZero founder, Bryan Pellegrino, stated that his proposal is fair and committed not to participate in the upcoming vote to avoid conflicts of interest. This merger is expected to create a significant change in the LayerZero ecosystem and reshape the future of this cross-chain bridge. #anhbacong
LayerZero Foundation has proposed to acquire the Stargate Finance bridge (STG) for $110 million. If approved, Stargate will become part of #LayerZeroFoundation , the STG token will be burned and may be converted to LayerZero's ZRO token.
Acquisition to strengthen the ecosystem
This proposal aims to unite the two projects, helping #Stargate to implement the proposed development roadmap and strengthen LayerZero's ecosystem. Although previously heavily invested by Alameda Research, the STG token price has significantly decreased. However, after the proposal was announced, both ZRO and STG rose by over 12%, indicating a positive market reaction.
Mixed reactions from the community
Currently, the proposal is still in the community feedback phase and has not yet been officially voted on. Some members of the Stargate DAO believe that the price of $110 million is too low, not commensurate with the value and the trading volume of up to $70 billion that Stargate has handled.
However, LayerZero founder, Bryan Pellegrino, stated that his proposal is fair and committed not to participate in the upcoming vote to avoid conflicts of interest. This merger is expected to create a significant change in the LayerZero ecosystem and reshape the future of this cross-chain bridge. #anhbacong
LayerZero Foundation Proposes $110M Stargate (STG) Acquisition—Swap for ZRO
The LayerZero Foundation has officially proposed a $110 million acquisition of the Stargate (STG) bridge protocol and its native token. This move is designed to bring Stargate fully under LayerZero’s control, streamline operations, and integrate the bridge’s cross-chain technology even deeper into the LayerZero ecosystem.
Key Proposal Details STG Token Swap: Holders of STG can exchange their tokens for LayerZero’s native ZRO token at a fixed ratio of 1 STG = 0.08634 ZRO. This values STG at approx. $0.1675 per token and ZRO at $1.94, based on proposal-time prices.
#LayerzeroFoundation
$ZRO $STG
The LayerZero Foundation has officially proposed a $110 million acquisition of the Stargate (STG) bridge protocol and its native token. This move is designed to bring Stargate fully under LayerZero’s control, streamline operations, and integrate the bridge’s cross-chain technology even deeper into the LayerZero ecosystem.
Key Proposal Details STG Token Swap: Holders of STG can exchange their tokens for LayerZero’s native ZRO token at a fixed ratio of 1 STG = 0.08634 ZRO. This values STG at approx. $0.1675 per token and ZRO at $1.94, based on proposal-time prices.
#LayerzeroFoundation
$ZRO $STG
🚨 LayerZero Foundation Starts $ZRO Token Airdrop Claims Today 🚨(Today crypto news)
The LayerZero Foundation, the team behind the cross-chain interoperability platform LayerZero, has officially announced that claims for its native token, ZRO, will begin today at 7 AM ET! 🌐🎉
click and trade here 👉 $ZRO 📌
This airdrop marks an exciting step in expanding LayerZero's ecosystem, and it’s a great opportunity for users to get involved with the platform’s native token. ⛓️💎
Make sure to claim your $ZRO tokens and be part of the cross-chain revolution! 🚀
Don’t miss out on all the action—hit that Follow button and let’s grow together in the crypto space! 🙌✨
#LayerZero #ZRO #CrossChain #CryptoNews #LayerZeroFoundation
The LayerZero Foundation, the team behind the cross-chain interoperability platform LayerZero, has officially announced that claims for its native token, ZRO, will begin today at 7 AM ET! 🌐🎉
click and trade here 👉 $ZRO 📌
This airdrop marks an exciting step in expanding LayerZero's ecosystem, and it’s a great opportunity for users to get involved with the platform’s native token. ⛓️💎
Make sure to claim your $ZRO tokens and be part of the cross-chain revolution! 🚀
Don’t miss out on all the action—hit that Follow button and let’s grow together in the crypto space! 🙌✨
#LayerZero #ZRO #CrossChain #CryptoNews #LayerZeroFoundation
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