Wormhole Challenges LayerZero’s Stargate Acquisition Bid

The Wormhole Foundation has voiced concerns about the proposed acquisition of Stargate (STG) by LayerZero, which aims to purchase the project for approximately $110 million in ZRO tokens. They believe this offer undervalues Stargate’s assets and its potential for future growth. Notably, Stargate experienced a tenfold increase in bridging volume to $4 billion in July compared to the previous year, resulting in a total value locked (TVL) of $345 million and an anticipated annual revenue of $2 million. ]