LayerZero Acquires Stargate as DAO Approves $110 Million Deal
- Main event brings leadership changes and key financial shifts.
- Tokens converted to LayerZero’s $ZRO.
- $ZRO experiences market volatility after the acquisition.
LayerZero’s acquisition of Stargate was approved by nearly 95% of DAO members, marking a $110M deal that dissolves the Stargate DAO. $STG tokens are converted to $ZRO, indicating a shift in DeFi cross-chain governance.
The acquisition of Stargate by LayerZero, approved by nearly 95% of Stargate DAO participants, represents a landmark $110 million deal within the decentralized finance (DeFi) ecosystem. The decision results in the conversion of $STG tokens to LayerZero’s $ZRO, marking significant changes in DeFi governance.
Led by LayerZero Labs and its CEO, Bryan Pellegrino, the initiative sees all Stargate governance tokens converted to $ZRO, with LayerZero assuming full operational control. This shift includes a reallocation of protocol revenues and governance structures. Bryan Pellegrino noted, “Stargate is an immediate revenue-generating asset… [The deal is] a historic milestone accelerating value transfer across chains.”
Impacts of the acquisition extend through the DeFi sector, as institutional interest in blockchain interoperability grows, evidenced by rival offers such as Wormhole’s $120M bid. The speed of the process attracted criticism from some stakeholders. Hart Lambur, Co-founder of Across, commented, “Rushing benefits no one.”
This transaction prompts shifts in total value locked within DeFi platforms, as Stargate’s liquidity transitions to LayerZero. Analysts anticipate changes in liquidity provider strategies, reflecting new governance dynamics in cross-chain infrastructures.
The transition also affects $STG and $ZRO market activities, with $ZRO experiencing volatility following the announcement. The deal sets a new precedent in decentralized protocol acquisitions, underlining DAO governance power in financial decisions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
JASMY +19.61% as Strategic Data Infrastructure Project Announces Major Milestone
- JASMY surged 19.61% to $0.01542 after completing a key phase in its decentralized data marketplace infrastructure. - The blockchain-based platform enables secure data ownership and monetization through expanded partnerships and technical upgrades. - A new data indexing module improves scalability, while community-driven governance strengthens decentralization and trust. - Analysts highlight long-term potential despite volatility, citing 138.89% 30-day gains and strategic ecosystem expansion.
Female founders rewrite rules as investors trade labels for results
- Female founders in Europe are securing funding despite venture capital slowdowns, showcasing resilience in climate tech and AI sectors. - They face societal pressures to conform to "girlboss" ideals, risking backlash when deviating from perfectionist expectations. - Startups like Wallround and Seabound highlight women-led innovation in energy efficiency and maritime decarbonization. - Investors increasingly prioritize business results over labels, signaling growing acceptance of authentic female leadersh
Solana News Today: Institutional Gold Rush or Solana's Breakout? $210 Stands at the Crossroads
- Major crypto firms consider $1B investment in Solana (SOL), potentially boosting demand and price to $240–$260. - Technical analysis highlights $210 resistance level; a weekly close above $215 could confirm a breakout. - SOL shows relative strength against ETH and BTC, with key support levels at 0.043 and 0.0015 indicating potential outperformance. - Analysts warn of potential pullback to $170–$150 if $210 resistance fails, though $150 support could maintain long-term bullish trends.
Dogecoin News Today: Cold Wallet's Cashback Model Challenges XLM and DOGE's Chart-Driven Hype
- Stellar Lumens (XLM) forms an inverse head-and-shoulders pattern, suggesting potential breakout to $0.71 if it stays above $0.33, supported by cross-border payment partnerships and ETF inclusion prospects. - Dogecoin (DOGE) shows RSI normalization and a 4-hour inverse head-and-shoulders pattern, indicating possible rise to $0.32, though dependent on sustained volume and market sentiment. - Cold Wallet (CWT) distinguishes itself with a utility-driven cashback model, offering gas fee refunds and attracting
