LayerZero Buys STG Tokens for $110 Million to Deepen Integration with Stargate

LayerZero is acquiring $110 million worth of STG tokens in a strategic move to boost integration between its network and the popular Stargate liquidity bridge. This acquisition will allow STG holders to exchange their tokens at a fixed rate of 1 STG = 0.08634 ZRO for LayerZero’s native ZRO token. This will ultimately facilitate deeper integration of Stargate’s cross-chain bridging protocol into the LayerZero network. The goal is to streamline interoperability and liquidity across multiple blockchain ecosystems.