LayerZero Stargate Merger: Foundation Proposes $110M Acquisition Deal
- The LayerZero Foundation has proposed acquiring Stargate.
- A 70% majority could decide the proposal’s approval.
- STG and ZRO tokens surged after the acquisition proposal’s announcement.
The LayerZero Foundation has proposed a full acquisition of the cross-chain bridge Stargate (STG) to merge its token economy into the main LayerZero ecosystem. If the proposal is approved, it would consolidate the two protocols’ infrastructure under a single native asset, ZRO.
A $110 Million Deal That’s Already Moving the Market
LayerZero’s proposal to acquire Stargate involves a $110 million deal that will lead to the swapping of all STG tokens to ZRO at a fixed conversion rate, thus dissolving the Stargate DAO.
News of the proposal sent the prices of both STG and ZRO soaring, as traders bet on the deal’s approval. Although the vote is still pending, many in the community believe the Stargate DAO, which holds a 70% supermajority, will easily pass it.
Meanwhile, despite the short-term recovery…
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LayerZero Stargate Merger: Foundation Proposes $110M Acquisition Deal
- The LayerZero Foundation has proposed acquiring Stargate.
- A 70% majority could decide the proposal’s approval.
- STG and ZRO tokens surged after the acquisition proposal’s announcement.
The LayerZero Foundation has proposed a full acquisition of the cross-chain bridge Stargate (STG) to merge its token economy into the main LayerZero ecosystem. If the proposal is approved, it would consolidate the two protocols’ infrastructure under a single native asset, ZRO.
A $110 Million Deal That’s Already Moving the Market
LayerZero’s proposal to acquire Stargate involves a $110 million deal that will lead to the swapping of all STG tokens to ZRO at a fixed conversion rate, thus dissolving the Stargate DAO.
News of the proposal sent the prices of both STG and ZRO soaring, as traders bet on the deal’s approval. Although the vote is still pending, many in the community believe the Stargate DAO, which holds a 70% supermajority, will easily pass it.
Meanwhile, despite the short-term recovery…
The post LayerZero Stargate Merger: Foundation Proposes $110M Acquisition Deal appeared first on Coin Edition.
Read More