LayerZero secured a $110 million deal to buy Stargate, with 95% community approval after revising its offer.
Rival bids came from Wormhole, Axelar, and Across, but Stargate moved forward with LayerZero’s proposal.
The updated deal gives stakers half of Stargate’s revenue for six months and swaps all STG tokens for ZRO.
LayerZero Stargate, a blockchain messaging protocol, has won a $110 million deal to buy Stargate, a cross chain platform it created in 2022.
The Stargate community voted on Sunday, with 95% approving the deal after LayerZero tweaked its offer following complaints it wasn’t fair. Three other companies, Wormhole, Axelar, and Across, also showed interest, turning it into a last minute bidding war.
Community Strength and Rival Offers
Over 15,000 wallet addresses voted, with 94.76% (7.2 million STG tokens) backing LayerZero’s offer, while 5.24% (399,400 tokens) voted no, making it Stargate’s biggest vote ever, according to LayerZero’s CEO Bryan Pel
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