The Stargate community vote approved LayerZero’s $110 million Stargate acquisition with a clear majority.
On Sunday, 94.76% of voters, representing 7.2 million STG tokens, supported the proposal. Only 5.24%, or 399,400 tokens, opposed it.
The Stargate community vote saw record participation, with more than 15,000 addresses involved. According to the tally, almost 95% of stake weight and addresses backed LayerZero’s proposal.
Stargate, launched by LayerZero in 2022, is a protocol that enables cross-blockchain asset transfers.
It uses liquidity pools to allow assets to move natively across chains instead of relying on blockchain bridges. Bridges have often been targeted in hacking incidents, which has raised security concerns in the sector.
LayerZero Highlights Record Participation in Stargate Vote
Bryan Pellegrino, co-founder and CEO of LayerZero, said the Stargate community vote had “the highest participation of any vote” in the platform’s history.
He noted that around 95% of both stake weight and addresses supported the deal.
The high turnout followed criticism of LayerZero’s first proposal. Several members of the Stargate community argued that the original offer did not provide clear benefits for STG token holders.
In response, LayerZero revised its plan before the vote. The new offer gave Stargate stakers half of all top-line revenue for six months, while the other half would be used to buy back LayerZero’s ZRO token, priced at $2.01.
Wormhole Challenges LayerZero with $120 Million Stargate Bid
The bidding contest became more competitive when Wormhole made a counteroffer. On Saturday, it proposed a $120 million all-cash deal for the Stargate acquisition.
Wormhole said its plan would pay Stargate stakers three times the projected revenue for the next six months, distributed immediately if its offer succeeded. The company claimed LayerZero’s proposal undervalued Stargate’s ongoing business.
Despite the higher offer, the Stargate Foundation confirmed that the Stargate community vote could not be paused.
The Foundation said it had engaged with any interested parties that signed non-disclosure agreements and sought to conduct due diligence.
Axelar and Across Signal Interest in Stargate Acquisition
Two other platforms, Axelar Network and Across Protocol, expressed interest in the Stargate acquisition. Both suggested slowing the process to allow multiple bids to be considered.
Hart Lambur, co-founder of Across Protocol, wrote on Stargate’s forum that others had encouraged his team to make a bid. He added,
“I have no interest in rushing an 11th-hour proposal, however if this process is slowed down and other bids are properly considered, Across will participate.”
A few hours later, the Axelar Foundation also posted on the forum. It confirmed “a strong interest” in the deal and said it would submit a full proposal if a competitive process was created.
Final Terms of LayerZero’s Stargate Acquisition
The Stargate acquisition was ultimately approved under revised terms. All circulating STG tokens will be swapped for LayerZero’s ZRO token at a fixed rate of 1 STG = 0.08634 ZRO.
The updated plan addressed community concerns by giving direct benefits to Stargate stakers. Half of all Stargate revenue for six months will go to stakers, while the rest will be used for ZRO token buybacks.
With this outcome, LayerZero brings Stargate back under its control after creating it in 2022.
The acquisition followed a rare four-way bidding process that involved Wormhole, Axelar, and Across before the Stargate community vote finalized the decision.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: August 4, 2025 • 🔄 Last updated: August 4, 2025
