Wormhole Foundation is formally contesting LayerZero’s $110M Stargate acquisition, arguing the bid undervalues Stargate’s treasury and protocol potential; Wormhole seeks a pause to prepare a competitive offer and may reshape cross-chain governance outcomes for STG token holders.
Wormhole officially opposes LayerZero’s $110M Stargate acquisition proposal.
Wormhole says the offer undervalues Stargate’s treasury (~$92M) and long-term cross-chain utility.
Market reaction: STG and W tokens rallied; governance vote timing and potential rival bids will shape price and control.
LayerZero Stargate acquisition contested by Wormhole Foundation; read analysis of STG, W, ZRO impacts and next steps — follow updates from COINOTAG.
What is the dispute over LayerZero’s $110M Stargate acquisition?
The dispute centers on LayerZero’s $110M offer to convert circulating STG tokens to ZRO and Wormhole Foundation’s formal opposition. Wormhole argues this valuation fails to reflect Stargate’s treasury and cross-chain strategic value and has requested a pause to prepare a competing bid.
How did markets react to the Wormhole Foundation challenge?
Crypto markets showed immediate volatility after Wormhole’s announcement. STG and W tokens experienced rallies, while LayerZero’s ZRO saw modest upside. Traders priced in the chance of a higher offer or prolonged governance action. Stargate’s treasury is publicly estimated at roughly $92 million in on-chain disclosures.
‘,
‘
🚀 Advanced Trading Tools Await You!
Maximize your potential. Join now and start trading!
‘,
‘
📈 Professional Trading Platform
Leverage advanced tools and a wide range of coins to boost your investments. Sign up now!
‘
];
var adplace = document.getElementById(“ads-bitget”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex;
adplace.innerHTML = adscodesBitget[adsindex];
sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBitget”, sessperindex);
}
})();
Wormhole’s public statement argues the bid does not fully reflect Stargate’s on-chain treasury and its strategic role in cross-chain messaging and liquidity. The foundation points to treasury holdings and protocol adoption metrics to justify a higher valuation.
‘
];
var adplace = document.getElementById(“ads-binance”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex;
adplace.innerHTML = adscodesBinance[adsindex];
sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBinance”, sessperindex);
}
})();
Source: https://en.coinotag.com/wormhole-could-submit-competing-bid-for-stargate-after-layerzeros-110m-offer-spurs-stg-rally/