LayerZero Foundation wants to buy the Stargate bridge and its STG tokens for $110 million.

As part of the deal, they plan to shut down the Stargate DAO (the community that governs Stargate) and let STG holders swap their tokens for LayerZero’s token, ZRO. The swap rate would be 1 STG = 0.08634 ZRO.

This move is meant to bring Stargate’s technology closer into LayerZero’s system.

After the news came out, the price of ZRO went up by 10%, and STG rose 5% to $0.175.

#LayerZero #StargateBridge #STGtoken #ZROtoken #CrossChain $STG