Wormhole Foundation (WF) participated in the Bidgate Finance and challenged the proposed acquisition of $ 110 million.
In one August 20 explanation Via X, WF argued that Layerzero’s offer considerably underestimated the Cross-Chain Bridge Protocol.
Layerzero Foundation announced his Acquisition proposal on 10 AugustOffer all circulating StG -Tokens for $ 0.1675 per token via a swap for ZRO tokens.
The proposal requires approval from StG holders through the Stargate administration process, with an approval threshold of 70% required for the passage.
Wormhole Foundation argued that Layerzero’s offer does not reflect the actual value of Stargate, referring to the treasury holdings of the protocol and recent performance statistics.
Wormhole also shared that Stargate maintains more than $ 92 million in Treasury assets, including $ 76 million in stablecoins and $ 16 million in Ethereum, while demonstrating a considerable growth momentum.
Performance stimulates a value of the valuation
Data from the chains shows that Stargate processed $ 4 billion in the bridge volume in July 2025, which represents an increase of 10 times on an annual basis. When from August. 20, it had locked $ 348 million in total value (TVL) over more than 80 chains.
According to the Wormhole Foundation:
“Stg holders earn better. The current bid supports the assets, brand, codebase and team of the protocol.”
The WF added that these basic principles justify a “meaningfully higher supply” than the proposed valuation of Layerzero.
Layerzero Foundation defends its prices and notes that Stargate’s support of $ 0.14444 per circulating token compared to the trading price of $ 0.1637 per token during the proposal time. It added that the offer based on the calculations is a premium for both statistics.
Differences Beyond offers
Layerzero positions the acquisition as ecosystem consolidation and notes that Stargate’s established infrastructure and user base notes. The foundation is planning to aim all future surplus income from Stargate to ZRO -Tokendoop, while the mandate of the protocol goes beyond traditional bridge services.
Moreover, Layerzero argued that uniform governance conflicts between potentially competing protocols would eliminate.
At the same time, Wormhole Foundation proposed an alternative vision that “Stargate’s uniform liquidity pools combined with our broad integration scoing system.”
The foundation said that this approach would “generate higher volumes, higher income and greater stickiness”, for the benefit of both STG and W -Token holders. It also asked for a suspension of five companies of the current vote of Layerzero to give time for due diligence and bid.
The governance -mood requires a 1.2 million vest -token quorum with 70% approval for Layerzero’s proposal to pass. The proposal was changed to offer an additional compensation for Vestg strikers for six months of income distribution.
The amendment happened after criticism of the equal treatment of locked versus unlocked tokens.
