​​Wormhole Pushes $120M Cash Bid to Rival LayerZero’s Stargate Deal

TLDR: Wormhole offered $120M USDC to acquire Stargate, exceeding LayerZero’s $110M proposal currently up for DAO vote. LayerZero’s deal dissolves Stargate DAO and swaps $STG for $ZRO at a fixed 1:0.08634 conversion ratio. Wormhole pledged to honor Stargate’s commitments for 12 months, pushing for a competitive process for $STG holders. Stargate DAO’s vote on the [...]

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