LayerZero has invested $110 million to acquire Stargate, and the proposal has been approved.

BlockBeats News, August 24th, LayerZero officially announced that the Stargate DAO has approved its acquisition of Stargate (STG). StargateDAO members voted 95% in favor of this acquisition, and STG holders will be able to convert their tokens to ZRO starting on Monday.

On August 11th, the LayerZero Foundation proposed to acquire Stargate's cross-chain bridge and its STG token for $110 million. According to the proposal terms, the STG token will be deprecated, and STG holders can swap 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.