PANews reported on August 21st that according to an announcement from the Wormhole Foundation, LayerZero has proposed acquiring Stargate (STG) for approximately $110 million in ZRO tokens. Wormhole believes this offer undervalues the Stargate protocol's assets and growth. Stargate's July bridging volume reached $4 billion, a tenfold year-over-year increase, with a TVL of $345 million and projected annual revenue of $2 million. Wormhole plans to submit a higher bid and has requested a five-business-day suspension of the current snapshot voting process to allow for the completion of the bidding process and protect the interests of STG holders.