Wormhole vs. LayerZero: Crypto Battle for Stargate!

by

Behold, dear reader, the tale of Wormhole, a cross-blockchain bridge, who doth dare to challenge the mighty LayerZero’s audacious $110 million bid for the cryptic protocol Stargate. “A compelling offer?” quoth Wormhole, with a sneer as sharp as a sword. “Nay, for it values Stargate at an unreasonably low number!” 🐛🌌

The Wormhole Foundation, in a post upon Stargate’s forum, did declare that the community deserved “a more competitive process.” Forsooth, LayerZero’s initial bid, though grand, failed to stir the hearts of the masses. Yet, when LayerZero updated its offer, the crowd did cheer, as if hearing the call of a siren. 🎉

“It doesn’t create a compelling offer,” Wormhole lamented, “which values Stargate’s ongoing business at an unreasonably low number.” And thus, Wormhole vowed to submit a “meaningfully higher bid,” as if bidding for a crown in a royal contest. 🏰

This impending bid may ignite a bidding war for Stargate, a platform born of LayerZero’s genius in 2022. Yet, many STG tokenholders, like discontented peasants, cried foul at LayerZero’s initial offer. “Unfair!” they cried, their voices echoing through the blockchain halls. 🧠

Wormhole asks for vote pause on LayerZero’s bid

Wormhole, in a plea to the Stargate community, requested a five-day pause on LayerZero’s bid, that it might “finalize its offer.” “We would appreciate additional time,” Wormhole implored, “to conduct research and speak with the Stargate team.” As if crafting a masterpiece, Wormhole sought to “improve upon the current offer.” 🧠

It further demanded a list of assets, financials, user metrics, and even whispers of lawsuits or regulatory actions. A thorough man, Wormhole, like a scribe in a medieval scriptorium. 📜

Wormhole, in its grand vision, pitched its acquisition of Stargate as forming a “market-dominant ecosystem.” “Stargate brings deep, unified liquidity pools,” it proclaimed, “while Wormhole commands broad ecosystem integration across dozens of blockchains.” A tale of two giants, united in ambition. 🌍

Yet, Wormhole remained silent when asked for comment, like a monk in a cloister. LayerZero, too, was nowhere to be found, as if vanishing into the ether. 🧙‍♂️

Stargate community backs LayerZero’s updated bid

LayerZero, in its wisdom, updated its proposal to include a revenue-sharing period for staked STG holders. The community, like a flock of sheep, followed the leader. “Half of all top-line Stargate revenue for six months,” they cheered, while the other half was to buy back ZRO tokens. 🧾

In contrast, its initial proposal was deemed “not attractive at all” by some, who wished for a 1:1 token swap. “A 1:1 ratio!” they cried, as if demanding a fair trade. 🧾

Wormhole, Stargate, LayerZero tokens gain

The tokens of Wormhole, Stargate, and LayerZero all ascended in value, as if dancing to the rhythm of the market. Wormhole’s token, W, rose 6.3% to 8 cents, a modest gain, yet significant. 🚀

Stargate’s token, too, gained 6%, climbing to 18 cents, though it cooled to 17 cents. LayerZero’s token, meanwhile, gained 3.6% to $2, joining the broader crypto market’s ascent. Bitcoin and Ether, too, rose, as if the gods of finance were smiling. 🚀

Read More

2025-08-21 05:33