The Axelar Foundation would like to express its strong interest in participating in this process.
- Stargate stands to benefit significantly from Axelar’s decentralized interoperability infrastructure. Assuming alignment at both the technical and economic level, Axelar Foundation is ready to allocate resources to strengthen Stargate’s security, expand its reach into ecosystems not currently accessible via LayerZero (including Sui and Ripple), and dedicate technical resources to accelerate Stargate’s growth.
- Under the current acquisition proposal, Stargate’s enterprise value is set at $15M (we are referencing RelayZero’s earlier message, as we have not yet completed a full economic analysis, though this appears consistent with our preliminary review). We believe the economic upside of aligning Axelar and Stargate on both the technical and economic fronts is substantially higher, and therefore we are very interested in pursuing a proposal.
- If a competitive process is initiated for the Stargate acquisition, we would be very interested in preparing a comprehensive proposal and encourage Stargate to collect all options before making a decision.