LayerZero has successfully acquired the cross-blockchain platform Stargate for $110 million following a competitive bidding process involving three other bidders. The Stargate community voted overwhelmingly in favor of LayerZero’s revised offer, with a 95% majority supporting the acquisition. After initial concerns over the fairness of the original deal, LayerZero amended its proposal to offer Stargate token holders half of the platform’s revenue for six months, significantly enhancing its appeal. Notably, the vote saw record participation, with over 15,000 addresses involved. Rivals, including Wormhole, Axelar, and Across, expressed interest in the acquisition but were unable to slow the voting process or submit competitive offers in time. The final agreement involves swapping all circulating STG tokens for LayerZero's new ZRO tokens at a specified ratio, marking the return of Stargate under LayerZero's control and setting the stage for future developments.

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