TechFlow, August 11 — According to The Block, on August 10 the LayerZero Foundation proposed acquiring the Stargate cross-chain bridge for $110 million. Under the proposal, the STG token would be discontinued, and STG holders could exchange their tokens for LayerZero's native token ZRO at a ratio of 1:0.08634.
The proposal is currently seeking feedback on the Stargate decentralized autonomous organization (DAO) community forum, requiring a 70% approval threshold to pass. If approved, the Stargate DAO will dissolve and its operations will be integrated into the LayerZero Foundation.
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