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Wormhole has entered a bidding war against LayerZero to acquire cross-chain transfer platform Stargate. The Wormhole Foundation argues that LayerZero’s $110 million offer undervalues Stargate’s business. Both blockchain bridges are competing to control the critical cross-chain infrastructure.
- Wormhole Foundation criticized LayerZero's $110M bid as undervaluing Stargate's ongoing business
- LayerZero updated its acquisition offer on Sunday after initial community rejection in August
- The bidding war involves two major cross-chain bridges competing for critical DeFi infrastructure
📎 Related coverage from: cointelegraph.com