LayerZero acquisition of StarGate faces "interference": Wormhole raises price request to suspend voting.
LayerZero's acquisition proposal for StarGate has been disrupted by its competitor Wormhole, which has offered a higher bid and requested a pause in the voting process, intending to disrupt the acquisition. (Background: LayerZero announced a $127 million acquisition of StarGate, with STG and ZRO pumping 25%, raising concerns in the community about centralization) (Additional Background: Key governance vote for LayerZero: Should ZRO protocol fees be opened?) The proposal "LayerZero's acquisition of StarGate" has suddenly changed after entering the formal voting process. On August 21, Wormhole Foundation, LayerZero's direct competitor, publicly announced on X that LayerZero's proposed acquisition bid of about $110 million for StarGate underestimated Starga.