Stargate announced the termination of STG staking function. veSTG holders will share 50% of the protocol revenue and the other 50% will be used for ZRO repurchase.

According to Stargate, the LayerZero Foundation has officially completed its full acquisition of Stargate (STG), including the protocol, tokens, and treasury. Following the acquisition, STG tokens will be convertible into LayerZero's native token, ZRO, at a fixed exchange rate (1 STG = 0.08634 ZRO), with a permanent exchange window. Furthermore, the StargateDAO will be dissolved, and STG staking will cease. However, previously locked STG will be automatically unlocked and can be redeemed for ZRO at any time. Furthermore, all veSTG holders who locked up their STG before August 10th will receive 50% of the protocol's Stargate revenue over the next six months, with the remaining 50% allocated for ZRO buybacks.