According to ChainCatcher news, the Stargate DAO has approved its acquisition of Stargate (STG) as announced by LayerZero officials. StargateDAO members voted in favor of the acquisition with a 95% majority, and STG holders will be able to convert their tokens to ZRO on Monday.
On August 11, the LayerZero Foundation proposed to acquire the Stargate cross-chain bridge and its STG tokens for $110 million. According to the terms of the proposal, STG tokens will be deactivated, 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 valued at $0.1675 and each ZRO being valued at $1.94.
