The Wormhole Basis (WF) took half within the Stargate Finance bid race and challenged the $110 million acquisition proposed by Layerzero.
in Assertion on August twentieth By means of X, WF claimed that Layerzero's supply was a significant underestimation of the cross-chain bridge protocol.
The Layerzero Basis introduced it Acquisition proposal for August tenthpresents to purchase all round STG tokens for $0.1675 per token through Zro token swap.
The proposal requires approval from STG holders by Stargate's governance course of and requires a 70% approval threshold required for the passage.
The Wormhole Basis argued that the Layer Zero bid doesn’t mirror Stargate's true worth, citing the protocol's Treasury holdings and up to date efficiency metrics.
Moreover, Wormhole shares Stargate maintains greater than $92 million in monetary belongings, together with $76 million in Stablecoins and $16 million in Ethereum, exhibiting vital progress momentum.
Efficiency promotes evaluation battle
Stargate processed $4 billion in bridge quantity in July 2025, representing a 10-fold enhance from the earlier yr, in keeping with on-chain information. As August's. A complete of $348 million is locked throughout greater than 20,000 chains (TVL).
In keeping with the Wormhole Basis:
“STG holders are value higher. Present bids underestimate the protocol's belongings, manufacturers, codebases and groups.”
WF added that these foundations justify “that means presents” greater than the assessments proposed by Layerzero.
The Layerzero Basis defends pricing and is specializing in Stargate's assist of $0.144444 per round token in comparison with a buying and selling worth of $0.1637 per token on the time of proposal. Based mostly on that calculation, he added that the supply represents the premium for each metrics.
The distinction past the supply
Layerzero will place the acquisition as a consolidation of ecosystems specializing in Stargate's established infrastructure and consumer base. The muse plans to direct all future Stargate extra revenues in the direction of Zro token buybacks.
Moreover, Layerzero argued that unified governance eliminates useful resource conflicts between doubtlessly aggressive protocols.
On the identical time, the Wormhole Basis proposed an alternate imaginative and prescient that mixes “Stargate's unified liquidity pool and a broad ecosystem of integration.”
The muse mentioned the method would generate “greater volumes, greater revenues, better stickiness” and profit each the STG and the W token holder. It additionally referred to as for an ongoing five-year suspension in Layerzero's proposal vote to permit time for due diligence and preparation for bids.
The governance vote requires 1.2 million greatest token quorum with 70% approval for the proposed Layer Zero Move. The proposal was amended to offer further compensation to Vestg Stakers by a six-month income distribution.
The repair got here after criticism about equal remedy of locked and unlocked tokens.
