LayerZero's acquisition proposal for Stargate has been approved, and STG tokens will be convertible to ZRO

According to ChainCatcher news, the LayerZero official announcement states that the Stargate DAO has approved its acquisition of Stargate (STG). StargateDAO members voted 95% in favor of the acquisition, and STG holders will be able to convert their tokens to ZRO on Monday.

On August 11, the LayerZero Foundation proposed a $110 million acquisition of the Stargate cross-chain bridge and its STG tokens. According to the terms of the proposal, STG tokens will be deactivated, and STG holders can exchange their tokens for LayerZero's native token ZRO at a rate of 1 STG for 0.08634 ZRO, which equates to a value of $0.1675 per STG and $1.94 per ZRO.