LayerZero has announced a $110 million acquisition of the Stargate proposal has been approved.

BlockBeats News, August 24th, the LayerZero team officially announced that the Stargate DAO has approved its acquisition of Stargate (STG). Members of StargateDAO voted 95% in favor of this acquisition, and STG holders will be able to convert their tokens to ZRO starting next Monday.

On August 11th, the LayerZero Foundation proposed a $110 million acquisition of Stargate's cross-chain bridge and its STG token. According to the terms of the proposal, the STG token will be deprecated, and STG holders will be able to swap their tokens for LayerZero's native token ZRO at a rate of 1 STG to 0.08634 ZRO. This conversion rate values each STG at $0.1675 and each ZRO at $1.94.