【Wormhole Foundation is competing with LayerZero for the acquisition of the Stargate cross-chain bridge, planning to submit a bid higher than $110 million】 According to Jinse Finance, the Wormhole Foundation stated that the LayerZero Foundation previously proposed to acquire the Stargate cross-chain bridge and its STG tokens for $110 million. Wormhole believes this offer is too low and undervalues Stargate's strong growth. The Wormhole Foundation is preparing to submit a higher bid and has requested a suspension of the ongoing snapshot voting for 5 business days. On August 11, the LayerZero Foundation proposed to acquire the Stargate cross-chain bridge and its STG tokens for $110 million. According to the proposal terms, the STG tokens will be disabled, and STG holders can 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.