Hassan Maishera
On Sunday, the LayerZero team announced via X that the LayerZero Foundation has proposed an acquisition of Stargate (STG). Stargate Finance (STG) is an omnichain-native asset bridge designed to solve the blockchain trilemma, which says that no blockchain can be decentralized, secure, and fast simultaneously.
It does this by simplifying cross-chain DeFi transactions, which lets users transfer and swap their assets between different blockchains, layer-2 networks, and decentralized applications (dApps) almost instantly.
If the proposal is approved,
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All circulating STG (including staked/voting STG) is swapped for ZRO at a ratio of 1 STG: 0.08634 ZRO, reflecting a value of $0.1675 per STG and $1.94 per ZRO.
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Stargate will become even more deeply ingrained in the LayerZero ecosystem, building a suite of consumer-facing offerings that may expand on its core in many new ways.
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The dissolution of the Stargate DAO
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All future excess revenue generated by Stargate will be directed towards reducing the circulating supply of ZRO via a buyback program
LayerZero is an interoperability protocol designed to facilitate seamless communication between different blockchains. It aims to create a unified, interconnected blockchain ecosystem where assets and data can move freely across various networks. ZRO trades at $2.481, up 24.7% in the last 24 hours.
