Stargate Holders Defy LayerZero’s $138M Buyout Offer
Main Idea
Stargate holders have rejected LayerZero's $138 million buyout offer, highlighting the influence of decentralized governance and community commitment to project autonomy in the DeFi space.
Key Points
1. LayerZero Foundation proposed a $138 million acquisition to merge Stargate under its ZRO token, which would dissolve Stargate's DAO and end fee-sharing for locked STG holders.
2. Stargate holders opposed the deal, arguing it favored LayerZero and threatened Stargate's autonomy, technology, and market position.
3. The rejection underscores the power of decentralized autonomous organizations (DAOs) and community-driven decision-making in DeFi.
4. The future of the integration remains uncertain, pending further community feedback and potential revisions to the proposal.
5. This event reflects broader trends in decentralized acquisitions, emphasizing the role of token holders in shaping merger outcomes in the Web3 space.
Description
BitcoinWorld Stargate Holders Defy LayerZero’s $138M Buyout Offer In a significant development shaking the decentralized finance (DeFi) space, Stargate holders have decisively pushed back against a substantial acquisition bid. The LayerZero Foundation’s $138 million offer to integrate Stargate into its ecosystem, effectively merging the two projects under the ZRO token, faces strong community opposition. This bold rejection highlights the power of decentralized autonomous organizations (DAOs) an...
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