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2w ago

LayerZero’s ZRO Bid for Stargate Enters DAO Debate After Tokens Rally

STG holders are engaging in a seven-day discussion period on the DAO forum ahead of a vote that requires 70 percent approval with a 1.2 million veSTG quorum.

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Layerzero proposes $110m stargate token merger in consolidation play

Overview

  • The proposal sets a fixed swap ratio of 1 STG to 0.08634 ZRO, valuing STG at $0.1675 based on ZRO’s market price at launch.
  • STG surged about 12 percent to $0.188 and ZRO rallied roughly 22 percent to $2.50, lifting the deal’s implied value to around $127 million.
  • If approved, the plan would retire the STG token, dissolve Stargate’s DAO and channel all future protocol revenues into ZRO buybacks.
  • LayerZero CEO Bryan Pellegrino said the acquisition will accelerate Stargate’s roadmap beyond cross-chain bridging into broader blockchain infrastructure services.
  • Since its 2022 launch, Stargate has processed over $70 billion in cross-chain volume, underscoring the significance of unifying its governance under LayerZero.