LayerZero to Acquire Stargate: $110 Million Deal Raises Questions About Tokenization & Ownership

The LayerZero Foundation is aiming to acquire the cross-chain liquidity protocol Stargate for a cool $110 million, with their native token (ZRO) swapping for Stargate’s (STG). This proposal has spurred price fluctuations in both tokens, but also triggered mixed reactions from some STG holders. 24-hour trading data shows ZRO soared over 23% to reach $2.44, while STG jumped 16.5% to hit $0.198 according to CoinGecko. The announcement arrived on Stargate’s governance forum on Sunday, with LayerZero describing it as a move to ‘accelerate’ development and merge the two entities under its umbrella.