The Wormhole Foundation issued a statement saying that after LayerZero Foundation proposed to acquire Stargate Cross Chain Bridge and its STG tokens for $110 million, Wormhole believes that the offer is too low and underestimates the strong growth of Stargate. Wormhole Foundation is ready to submit a higher offer and request to suspend the ongoing snapshot voting for 5 working days.
Previously, on August 11, the LayerZero Foundation proposed to acquire Stargate Cross Chain Bridge and its STG tokens for $110 million. Under the terms of the proposal, STG tokens will be deactivated, and STG holders can exchange their tokens for LayerZero native token ZRO at a rate of 1 STG to 0.08634 ZRO, which is equivalent to $0.1675 per STG and $1.94 per ZRO.
Wormhole Foundation Competing with LayerZero to Acquire Stargate Cross-Chain Bridge, Proposes Offer Above $110 million
2025-08-20 17:02:00
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