Overview
- LayerZero’s proposal offers roughly $110 million in ZRO tokens to acquire circulating STG at $0.1675 per token, subject to Stargate governance approval.
- Wormhole signaled a competing bid and asked for a five‑business‑day suspension of the ongoing Snapshot vote to complete due diligence and finalize a higher offer.
- Stargate’s cited fundamentals include about $4 billion in July bridge volume, roughly $345–348 million in TVL, and an estimated $92 million in liquid treasury assets.
- The governance process requires a 1.2 million veSTG quorum with 70% approval, and LayerZero amended its plan to distribute six months of protocol revenue to veSTG stakers.
- LayerZero defends its valuation and proposes directing Stargate excess revenue to ZRO buybacks, while Wormhole argues a combination would drive higher volumes and revenues across its integration network.