Hassan Maishera
On Saturday, the LayerZero team announced via X that the Stargate DAO has approved its acquisition of Stargate (STG). This comes despite the Wormhole Foundation also submitting a proposal to acquire LayerZero.
StargateDAO members voted 95% in favor of the acquisition. With the proposal now approved,
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All circulating STG (including staked/voting STG) will be 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 will also take place, and
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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 $2.057, down 2.97% in the last 24 hours.
