{"id":43304,"date":"2025-08-21T07:01:51","date_gmt":"2025-08-21T07:01:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=43304"},"modified":"2025-08-21T07:01:51","modified_gmt":"2025-08-21T07:01:51","slug":"wormhole-stakes-its-claim-in-stargate-contest","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=43304","title":{"rendered":"Wormhole Stakes Its Claim in Stargate Contest"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">The Wormhole Foundation has stepped into the spotlight with a challenge to <\/span><span data-preserver-spaces=\"true\">LayerZero\u2019s<\/span><span data-preserver-spaces=\"true\"> $110 million bid to acquire Stargate Finance. Rather than sitting on the sidelines, Wormhole is questioning whether the current deal truly reflects <\/span><span data-preserver-spaces=\"true\">Stargate\u2019s<\/span><span data-preserver-spaces=\"true\"> value and potential.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">LayerZero\u2019s<\/span><span data-preserver-spaces=\"true\"> Offer Sparks Controversy<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">LayerZero proposed a full buyout of circulating Stargate tokens using its own ZRO token, valuing each STG at roughly 17 cents. For the deal to go through, <\/span><span data-preserver-spaces=\"true\">Stargate\u2019s<\/span><span data-preserver-spaces=\"true\"> token holders have to approve it. And not just with a simple majority. The vote needs approval from 70 percent of veSTG holders and must meet a specific quorum.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"zh\" dir=\"ltr\">Wormhole\u8ba1\u5212\u66f4\u9ad8\u4ef7\u6536\u8d2dStargate\uff0c\u8981\u6c42\u6682\u505cLayerZero\u6536\u8d2d\u6295\u7968\u2026<\/p>\n<p>\u2014 \u54c8\u4e16\u94fe\u95fb\u3010\u4e0b\u8f7dAPP\u8ffd\u70ed\u70b9\u3011 (@HashNewsHK) <a href=\"https:\/\/twitter.com\/HashNewsHK\/status\/1958332665448595550?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">August 21, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span data-preserver-spaces=\"true\">Wormhole Pushes Back on Valuation<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Wormhole <\/span><span data-preserver-spaces=\"true\">doesn\u2019t<\/span><span data-preserver-spaces=\"true\"> think the offer matches the actual strength of <\/span><span data-preserver-spaces=\"true\">Stargate\u2019s<\/span><span data-preserver-spaces=\"true\"> position. The protocol has more than $92 million in its treasury, most of it in stablecoins and Ethereum. Beyond that, Stargate has been moving serious volume. In July alone, it processed nearly $4 billion in bridge transfers. <\/span><span data-preserver-spaces=\"true\">That\u2019s<\/span><span data-preserver-spaces=\"true\"> a tenfold increase from last year. With <\/span><span data-preserver-spaces=\"true\">nearly<\/span><span data-preserver-spaces=\"true\"> $350 million in total value locked across dozens of chains, Wormhole believes Stargate is worth more than <\/span><span data-preserver-spaces=\"true\">what\u2019s<\/span><span data-preserver-spaces=\"true\"> on the table.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best High-Risk, High-Reward Crypto to Buy in August2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">A Call to Pause the Vote<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Wormhole has asked for a short pause in the voting process. The reason is simple. They want the chance to submit a competing proposal. They argue<\/span><span data-preserver-spaces=\"true\">\u00a0that combining <\/span><span data-preserver-spaces=\"true\">Stargate\u2019s<\/span><span data-preserver-spaces=\"true\"> liquidity and user base with <\/span><span data-preserver-spaces=\"true\">Wormhole\u2019s<\/span><span data-preserver-spaces=\"true\"> infrastructure could bring better long-term value. They also believe users deserve time to consider options beyond what LayerZero has proposed.<\/span><\/p>\n<div class=\"cpp-crypto-chart cpp-crypto-chart-99btc cpp-crypto-chart-btc\" data-coin-symbol=\"btc\" data-price-usd=\"BTC Price (USD)\" data-main-color=\"#4caf05\" data-watermark-image=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/99bitcoins-logo.png\" data-chart-style=\"99btc\">\n<div class=\"cpp-chart-top-section\">\n<div class=\"cpp-chart-info-section\">\n<div class=\"cpp-chart-logo\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" alt=\"btc logo\"><\/div>\n<div class=\"cpp-chart-coin-details\">\n<div class=\"cpp-chart-labels-row\">\n<div class=\"cpp-chart-coin-name\">Bitcoin<\/div>\n<div class=\"cpp-chart-price-info\">Price<\/div>\n<div class=\"cpp-chart-market-cap\">Market Cap<\/div>\n<\/div>\n<div class=\"cpp-chart-values-row\">\n<div class=\"cpp-chart-coin-symbol\">BTC<\/div>\n<div class=\"cpp-chart-price\"><\/div>\n<div class=\"cpp-chart-market-cap-value\">$2.28T<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"cpp-chart-selectors cpp-chart-selectors-99btc\"><span class=\"cpp-chart-selector\" data-period=\"24h\">24h<\/span><span class=\"cpp-chart-selector\" data-period=\"7d\">7d<\/span><span class=\"cpp-chart-selector\" data-period=\"30d\">30d<\/span><span class=\"cpp-chart-selector\" data-period=\"1y\">1y<\/span><span class=\"cpp-chart-selector\" data-period=\"all_time\">All time<\/span><\/div>\n<\/div>\n<p><canvas id=\"cpp-chart-68a6c21bb9999\" class=\"cpp-chart-container cpp-chart-container-99btc\"><\/canvas><\/div>\n<h2><span data-preserver-spaces=\"true\">LayerZero Holds Its Ground<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">LayerZero is defending its proposal. From their perspective, the token swap already includes a fair premium based on <\/span><span data-preserver-spaces=\"true\">Stargate\u2019s<\/span><span data-preserver-spaces=\"true\"> market price and fundamentals. They see it as a way to align both projects, <\/span><span data-preserver-spaces=\"true\">bring order to<\/span><span data-preserver-spaces=\"true\"> their resource allocation, and fund future buybacks for the ZRO token using <\/span><span data-preserver-spaces=\"true\">Stargate\u2019s<\/span><span data-preserver-spaces=\"true\"> revenue. The team believes this is a logical next step rather than a hostile move.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Governance Vote Now in Focus<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The Stargate community vote is still underway. For it to pass, at least 1.2 million veSTG tokens need to <\/span><span data-preserver-spaces=\"true\">be counted<\/span><span data-preserver-spaces=\"true\">, and 70 percent of those votes must support the proposal. After facing community backlash, LayerZero did revise the plan to give protocol revenue to those holding locked tokens. But the update <\/span><span data-preserver-spaces=\"true\">hasn\u2019t<\/span><span data-preserver-spaces=\"true\"> put the issue to rest. The vote remains divisive.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What\u2019s<\/span><span data-preserver-spaces=\"true\"> at Stake<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">This decision goes beyond <\/span><span data-preserver-spaces=\"true\">one<\/span><span data-preserver-spaces=\"true\"> protocol <\/span><span data-preserver-spaces=\"true\">buying<\/span><span data-preserver-spaces=\"true\"> another.<\/span><span data-preserver-spaces=\"true\"> It reflects bigger questions about how decentralized finance platforms should grow and who should be steering that direction. If LayerZero succeeds, it could mark a <\/span><span data-preserver-spaces=\"true\">major<\/span><span data-preserver-spaces=\"true\"> step toward centralizing cross-chain liquidity under fewer umbrellas. If Wormhole gets its shot, it could introduce a model built more on collaboration than consolidation. Either way, <\/span><span data-preserver-spaces=\"true\">Stargate\u2019s<\/span><span data-preserver-spaces=\"true\"> next move will likely ripple through the entire bridge and interoperability landscape.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Wormhole is challenging LayerZero\u2019s $110 million offer to acquire Stargate, questioning whether the valuation reflects the protocol\u2019s true potential.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        LayerZero\u2019s deal involves a ZRO token swap for all circulating STG tokens, but it requires 70% approval from veSTG holders with a quorum met.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Wormhole argues Stargate\u2019s $92 million treasury, $350M TVL, and $4B in monthly bridge volume point to a higher valuation and broader strategic value.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Wormhole has requested a pause in the vote to submit a competing proposal, suggesting a more collaborative path forward.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The outcome of this vote could set the tone for future DeFi mergers, raising questions about centralization versus protocol alignment.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/wormhole-challenges-layerzeros-stargate-takeover-plan\/\">Wormhole Stakes Its Claim in Stargate Contest<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Wormhole Foundation has stepped into the spotlight with a challenge to LayerZero\u2019s $110 million bid to acquire Stargate Finance. Rather than sitting on the sidelines, Wormhole is questioning whether the current deal truly reflects Stargate\u2019s value and potential. LayerZero\u2019s Offer Sparks Controversy LayerZero proposed a full buyout of circulating Stargate tokens using its own [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-43304","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43304"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43304\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}