Golden Finance reported that LayerZero officially announced that the Stargate DAO has approved its acquisition of Stargate (STG). StargateDAO members voted 95% in favor of the acquisition, 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 conversion rate of 1 STG to 0.08634 ZRO, equivalent to each STG valued at $0.1675 and each ZRO valued at $1.94.

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