Hi, Paul here.
I am a huge fan of Stargate, a significant holder of STG, and highly active with the DAO. I am also a huge fan of LayerZero, and care deeply for its long term success.
I think the objective here is spot on. It makes sense to create a singular focus around one token that everyone can rally around, and I think this is massively bullish for ZRO. That being said, I agree with others feedback here: STG is undervalued and veSTG is massively undervalued.
For those of us who’ve chosen to stake STG tokens for years, we do so because we believe in the mission of STG. There is also an economic dimensions: we share in the fees earned by Stargate.
The current proposal treats liquid STG and veSTG the same when they are anything but. veSTG should receive a significant premium based on their staking period, and overall amount of STG staked.
I kindly ask that the LayerZero foundation reconsider the overall economic structure here for both liquid STG holders, and even more so for veSTG holders.
Thank you for your attention to this matter!