Wormhole raise counteroffer for $110M Stargate acquisition
Wormhole protocol don submit counteroffer to beat LayerZero $110 million Stargate acquisition offer. LayerZero first propose to swap STG for ZRO at 1:0.08634 ratio plus put revenue sharing for STG stakers. Even though 88% STG holders gree, Wormhole talk say Stargate acquisition no value the protocol’s $345 million TVL, $4 billion bridge volume and $92 million liquid assets well. Wormhole Foundation don ask make Snapshot vote pause for five days so dem fit do full check on Stargate financials, assets, user metrics, liabilities and compliance. Wormhole want join Stargate liquidity pool and user demand with their own cross-chain integrators. This counterbid fit change how dem value cross-chain M&A deals.
Bullish
Di naso bidding war wey dey happen for Stargate acquisition dey good for STG tokens. If Wormhole come put competitive counteroffer, e go likely push di purchase price up. Dis one mean say demand strong for Stargate liquidity pools and TVL. For short term, traders fit see price of STG rise because of speculation sey bid go higher. For long term, if dem fit acquire am at premium, e fit make Stargate market position stronger and token value increase. Similar M&A wahala inside DeFi don sabi cause steady token rally after dem confirm deal.