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The Wormhole Foundation has entered a bidding war for Stargate Finance, challenging LayerZero’s $110 million acquisition proposal. Wormhole argues the offer significantly undervalues the cross-chain bridge protocol’s assets and growth potential. The dispute sets up a governance battle requiring STG holder approval with a 70% threshold.
- Stargate holds $92M in treasury assets including $76M stablecoins and $16M Ethereum
- Protocol processed $4B bridge volume in July 2025 representing 10x year-over-year growth
- Governance vote requires 70% approval from STG holders with 1.2M veSTG token quorum
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