?? Wormhole has started to take over Stargate?
Whoa, Wormhole @wormhole is challenging the acquisition of Stargate @StargateFinance.
It's like they want to take in the child of LayerZero and nurture it.
The story is getting quite interesting.
Wormhole's proposed acquisition for Stargate governance (
✔️ Brief summary
- LayerZero was originally supposed to convert tokens through the acquisition of Stargate.
- Wormhole has now appeared and stated that the terms proposed by LayerZero are ridiculously low.
- The LayerZero acquisition is just based on STG market cap, and they are not considering the current volume or potential of Stargate.
- They are requesting to postpone the snapshot by 5 days, claiming they will offer better terms.
It felt like Stargate and LayerZero were one entity, but now this variable?
It will be interesting to see how the voting goes on the Stargate side, whether it will be postponed or not.
The bridge ecosystem is really dynamic too.
#Wormhole #Stargate #W #STG
At the WF, we have respect for the @StargateFinance protocol, its team, and especially its holders. Stargate is a leader in multichain asset transfers. That's why we're stepping up with our intent to acquire Stargate – to ensure holders get the fair deal they deserve.
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