As a holder of both STG and ZRO, I support this acquisition as a positive step for the long-term health of both projects.
Operationally, managing two separate tokens creates friction and slows down decision-making. Unifying under ZRO streamlines governance and aligns the ecosystem toward a common goal, which is fundamentally bullish.
Regarding valuation, the market is the most objective measure. Many point to Stargate’s revenue, but we must also ask why the token price was near its all-time low before this proposal was announced. The market had already priced in the protocol’s standalone value.
However, I agree that long-term stakers deserve better compensation. veSTG holders locked capital and took on significant risk. A flat conversion rate doesn’t acknowledge their contribution, and a premium for these holders should be considered to make the deal more equitable.
Ultimately, STG holders must decide if they are better off post-acquisition: holding a standalone bridge token, or a token representing a stake in the broader, unified LayerZero ecosystem. I believe the latter offers a more compelling path for future growth.