LayerZero just pulled off one of crypto’s boldest takeovers , buying back Stargate Finance for $120 million in ZRO tokens.
Author: Sahil Thakur
LayerZero just pulled off one of crypto’s boldest takeovers , buying back Stargate Finance for $120 million in ZRO tokens.
The deal folds Stargate back into its original creator. It also shuts down its DAO, unifies governance under LayerZero, and kills the STG token in favor of ZRO.
This isn’t just a protocol merger. It’s a full-circle moment for a multichain liquidity giant and a test of whether decentralized M&A can deliver under pressure.
Over 15,000 addresses voted. 94.7% said yes, with more than 7.5 million veSTG tokens backing the deal.
Turnout was record-high. But this wasn’t a smooth ride.
The DAO only agreed after LayerZero rewrote its initial offer. The new terms:
LayerZero wasn’t the only one eyeing Stargate.
Wormhole offered $120M in cash – plus immediate, accelerated revenue for stakers.
Axelar and Across both showed interest too, asking the DAO to pause the vote.
They didn’t get their way.
The Stargate Foundation said the process was already deep into due diligence. The vote went forward.
And LayerZero walked away with the win.
The Stargate bridge stays online. But this isn’t about maintaining the status quo.
LayerZero plans to evolve it into something bigger: swaps, vaults, financial infrastructure. Stargate’s track record, $70B in transfers across 50+ blockchains, gives it the runway.
CEO Bryan Pellegrino calls it a key revenue asset. He also says it will boost how quickly value moves across chains.
LayerZero didn’t just outbid the competition. It used governance, tokenomics, and community strategy to seal a $120M deal.
A DAO just made a $100M+ decision on-chain, in public, and under pressure.
| Acquirer | Target | Deal Value (Approx.) | Details |
|---|---|---|---|
| Coinbase | Deribit | $2.9 billion | Largest acquisition of 2025; crypto derivatives platform |
| Kraken | NinjaTrader | $1.5 billion | Retail trading platform; due diligence aided by AI |
| Ripple | Hidden Road | $1.25 billion | Brokerage integration with XRP Ledger infrastructure |
| Robinhood | WonderFi | C$250 million (~$179 million) | Expansion into Canadian crypto market |
| MoonPay | Helio | $175 million | Blockchain payment processor; part of infra expansion |
| Chainalysis | Alterya | $150 million | Acquisition of fraud detection capabilities |
| Swyftx | Caleb & Brown | Multi-million | Largest crypto acquisition in Australasia |
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