🏴 STG's last chapter? LayerZero proposes $110M swap into $ZRO
LayerZero Foundation has proposed a $110M takeover of the Stargate bridge, offering STG holders a swap into its native ZRO token - the community is split.
📑 Under the deal, the $STG token would be discontinued, with holders able to swap it for ZRO, LayerZero's native token, at a ratio of 1 STG to 0.08634 ZRO. This reflects a value of $0.1675 per STG and $1.94 per ZRO at the time of announcement.
If approved (with a 70% threshold) Stargate would be fully integrated into the LayerZero ecosystem, and its DAO dissolved. LayerZero's leadership says the move will accelerate Stargate's roadmap, expand beyond bridging and create a unified tech stack for ecosystem partners.
📈 The market reacted swiftly: STG climbed about 12% and ZRO 15% after the announcement, pushing the implied value of the deal from $110M to around $127M. Still, some community members argue the offer undervalues STG, pointing to its all-time high of $4.14 and the bridge's $70B in historical volume.
It's a power move - LayerZero is pulling its most successful spin-off back in-house. Great for ecosystem cohesion, but a bittersweet exit for STG believers who expected more than a sub-$0.20 farewell.
