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

The LayerZero Foundation has proposed acquiring the Stargate cross-chain bridge and its STG token for $110 million. Under the terms of the proposal, STG will be deactivated, and STG holders will be able to exchange their tokens for LayerZero's native token, ZRO, at a rate of 1 STG to 0.08634 ZRO, equivalent to a value of $0.1675 per STG and $1.94 per ZRO. Stargate will be incorporated into the LayerZero Foundation, and its DAO will be dissolved.