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Wormhole bid for Stargate is a competing acquisition offer intended to top LayerZero’s $110 million proposal; Wormhole asked for a five-business-day vote pause to complete due diligence and prepare a higher, market-reflective bid that better compensates STG tokenholders.
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Wormhole requests a 5-business-day vote pause to finalize a higher bid.
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LayerZero updated its offer to include six months of revenue sharing for staked STG holders.
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Tokens W, STG and ZRO rose as markets reacted; CoinGecko provided price movement data.
Wormhole bid for Stargate — timely update on the bidding war, vote pause request, and tokenholder impacts. Read the full breakdown and next steps.
Source: Wormhole Foundation
How does LayerZero’s updated bid affect STG holders?
LayerZero updated its proposal to include a six-month revenue-sharing period for staked STG holders — paying 50% of top-line Stargate revenue to stakers and allocating the remaining 50% to buy back LayerZero’s ZRO token. The update prompted 88.6% of voting STG holders (6.6 million tokens) to support the proposal in the recent vote.
What are the market reactions and token impacts?
Tokens linked to Wormhole (W), Stargate (STG) and LayerZero (ZRO) all saw intraday gains on the news. According to CoinGecko price data, W rose ~6.3% to just over $0.08, STG gained ~6% to highs near $0.18 before cooling, and ZRO increased ~3.6% to $2. Concurrently, BTC and ETH were up ~1% and ~5.2% respectively.
Frequently Asked Questions
Will Wormhole submit a higher monetary bid for Stargate?
Wormhole publicly stated it is “prepared to submit a meaningfully higher bid,” aiming to offer better valuation and terms for STG holders. The foundation requested documentation to finalize a competitive offer during the requested pause.