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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.
$STG) 1" alt="Wormhole Foundation announcement">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.