LayerZero Acquires Stargate Bridge, Promising Integration for DeFi Applications

LayerZero Foundation has proposed a $110 million acquisition of the Stargate bridge, aiming to integrate the platform within its ecosystem and potentially streamline operations. This move, detailed on the Stargate governance forum, will see the dissolving of the Stargate DAO if approved, with STG token holders exchanging their tokens for ZRO tokens. This acquisition could result in significant changes for both LayerZero and the wider DeFi space. The integration promises to expedite technological advancements and potentially set a precedent for future cross-chain bridges.