Wormhole plans to increase its acquisition bid for StarGate, with STG bridge volumes growing 10 times year over year.

[Chain News] On August 21, according to an announcement, a certain protocol proposed an acquisition of StarGate (STG) for approximately $110 million, but Wormhole believes this offer undervalues the assets and rise of the StarGate protocol. StarGate's bridging volume in July reached $4 billion, a year-on-year increase of 10 times, with a TVL of $345 million and an expected annual revenue of $2 million. Wormhole plans to submit a higher offer and requests a suspension of the current Snapshot vote for 5 working days to refine the bidding process and protect the interests of STG holders.

STG1.17%
W3.37%
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StableGeniusvip
· 08-21 01:17
empirically speaking, this valuation completely ignores protocol moats... amateurs
Reply0
TrustlessMaximalistvip
· 08-21 01:13
buy the dip opportunity missed again
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