LayerZero Acquires Stargate DAO in $120 Million Deal, Marking a Major Shift in DeFi

A new era for decentralized finance (DeFi) has begun as LayerZero, a cross-chain network provider, completed the acquisition of Stargate DAO in a $120 million deal. This landmark transaction marks a significant shift in how DAOs are valued and absorbed within the crypto ecosystem. 95% of Stargate’s tokenholders voted to support this agreement, dissolving the DAO and converting its native STG tokens into LayerZero’s ZRO tokens at a rate of 1 STG = 0.08634 ZRO. This deal is valued at roughly $120 million and grants LayerZero access to Stargate’s user base and revenue streams, including direct control over their infrastructure.