Wormhole has risen to bidding plans to unite the Stargate service, promising an offer above the initial token purchase proposal of $ 110 million of Layerzero.
He wants the vote of the snapshot to be delayed so that the community can weigh its offer.
Stargate numbers explain interest. The bridge processed $ 4 billion in July, has $ 345 million in TVL and is in a treasure of $ 92 million in stables and ether, plus $ 55 million in STG and other assets. Annual income is approximately $ 2 million.
“According to our initial review, we believe that STG holders deserve a more competitive process, and we are prepared to present a significantly higher offer,” the proposal said.
Layerzero’s proposal would transfer both the treasury and future income, which critics call a discount. Wormhole says that Shortchenge Tokensholders and that “Stg holders deserve something better.”
A Worm Hole Link would create one of the largest cross chain centers in cryptography, combining the Stargate Unified Liquidity Pools with Wormhole integrations in dozens of networks. The Foundation argues that this would increase the volume and long -term resistance for both ecosystems.
“The Wormhole Foundation sees a value not made in the assets of the Stargate brand, the protocol and the protocol,” said the proposal. “The Wormhole Foundation is confident that a successful Stargate combination and the wormhole holes ecosystem will lead to the most immediate value and long term for current Stg headlines, as well as the current and future holders of Wormhole (W).”
Wormhole has requested a five -day delay in the vote, looking for more time for due diligence and a fairer process.
Read more: Layerzero proposes a fusion of Token Stargate of $ 110 million in the consolidation game
