The @LayerZero_Core Foundation has successfully acquired @StargateFinance Finance, a prominent cross-chain bridge protocol. This acquisition, valued at approximately $110 million, was approved by a 95% majority vote from the Stargate decentralized autonomous organization (DAO), despite a competing bid from rival protocol Wormhole. The merger is a strategic move to integrate Stargate's liquidity infrastructure into the broader LayerZero ecosystem. LayerZero, which originally developed and launched Stargate in 2022, aims to consolidate its technology stack, streamline governance, and enhance its position in the cross-chain interoperability space. As part of the deal, the Stargate DAO will be dissolved, and the STG token will be retired. STG to ZRO Token Conversion The core of this acquisition involves a fixed token swap, allowing STG token holders to convert their tokens into LayerZero's native ZRO token. The official exchange rate is fixed at 1 STG = 0.08634 ZRO. The conversion is now live on the official Stargate platform. Users are required to connect their wallets and convert their entire STG balance, as partial conversions are not supported. The process is final and irreversible once the transaction is confirmed and signed. The merger aims to create a more cohesive and efficient ecosystem by bringing Stargate's bridging capabilities directly under LayerZero's control. This consolidation is expected to accelerate development and simplify user experience. Following the acquisition, Stargate's revenue streams will no longer be used for STG staking rewards. Instead, the revenue will be allocated to ZRO token buybacks, which could potentially benefit ZRO token holders by reducing supply and increasing value. The acquisition marks a significant moment in the DeFi space, consolidating a key piece of cross-chain infrastructure and potentially setting a precedent for future mergers in the industry.