LayerZero Foundation proposes to acquire the Stargate cross-chain bridge and its token STG for $110 million

ChainCatcher news, according to The Block, the LayerZero Foundation has proposed to acquire the Stargate cross-chain bridge and its STG token for $110 million. According to the terms of the proposal, the STG token will be deprecated, and STG holders can exchange their tokens for LayerZero's native token ZRO at a rate of 1 STG for 0.08634 ZRO, which equates to a value of $0.1675 per STG and $1.94 per ZRO.

Stargate will be incorporated into the LayerZero