Foresight News reports that the LayerZero Foundation's proposal to acquire Stargate has opened for voting, with current support at 97.09%. Voting will end on August 24.
Foresight News previously reported that the LayerZero Foundation proposed to acquire the Stargate cross-chain bridge and its STG tokens for $110 million. The proposal includes the discontinuation of STG tokens, allowing STG holders to exchange their tokens for LayerZero's native token ZRO at a rate of 1 STG for 0.08634 ZRO, equivalent to each STG being worth $0.1675 and each ZRO being worth $1.94. Additionally, Stargate will be incorporated into the LayerZero Foundation, and its DAO will be dissolved.
