LayerZero Acquires Stargate: DAO Unanimously Approves Deal

The Stargate DeFi project has received unanimous approval for a merger with LayerZero following a vote by the community-owned Stargate DAO, as announced by the company. This decision was supported overwhelmingly, with 95% of participants voting in favor of the acquisition. Stargate token holders will have an opportunity to convert their STG tokens into ZRO starting Monday. Previously, the LayerZero Foundation proposed a $110 million acquisition of Stargate’s cross-chain bridge and associated STG tokens.