LayerZero wins $110M Stargate acquisition deal
The Blockchain messaging protocol, Layerzero obtained the acquisition of $ 110 million from the Stargate cross platform after a last-minute stormy auction war.
Summary
- Lowerzero won $ 110 million in Stargate with 95% DAO approval.
- Stargate Stakers to receive 50% of income; The rest goes to Zro redemptions.
- The community has chosen Layerzero compared to the rival offers of Wormhole, axlar and through.
With one of the highest participation rates in its history, the Stargate (STG) DAO approved Acquisition with a majority vote of 95%. More than 7.5 million VESTG tokens have been thrown by more than 15,000 addresses. As part of the agreement, the DAO has been closed and governance will be transferred to the Colayzero (Zro) ecosystem.
Stargate to move to layer control
Under the final agreement, Stargate Stakers will receive 50% of the protocol income for the next six months. The remaining 50% will be allocated to the acquisitions of Zro de Layerzero tokens, which will strengthen the value of the tokens. In addition, STG tokens holders will be able to convert them to ZRO to a fixed exchange rate of 1 STG = 0.08634 ZRO, from Monday, August 25.
This is a structural change that aligns the transversal liquidity infrastructure of Stargate with the wider interoperability of Layerzero strategy As governance and operations move under the umbrella of Layerzero.
Rival offers do not swing the Stargate vote
Winning approval was not an easy process. Because it ended the Stargate ignition program and would have undervalued its high generation of income, original Layerzero proposal aroused criticism from the community. The rivals were able to take advantage of this dissatisfaction, which led to a rare war of multi-protein tenders in decentralized finance.
Green hole (W), Shoulder (Ax), and through the protocol immediately joined the battle, with Wormhole even offering an offer of $ 120 million with accelerated payments for holders of Stargate tokens. Despite the higher offer, the Stargate community finally stayed with Lowerzero, focusing on strategic alignment on short -term gains.
Before being filmed as Dao in 2022, the Layerzero laboratories initially incubated Stargate in 2021. Requisition of Stargate by Stargate de Layerzero solidifies its ecosystem and improves its position of the message and cross -liquidity at a time when interoperability is still a Bottleneck of Defi Major,
Now that the acquisition is finished, the emphasis is on how Layerzero will incorporate the Stargate infrastructure and if the move will offer long -term advantages to the holders of Zro and the faithful partisan of Stargate.
Post Comment