Today is Wormhole’s 5th anniversary. On October 8, 2020, a small team made a bet on a multichain world. Today, Wormhole is the world leader in the category now critical to the internet economy. Hear @WormholeFdn co-founders @danreecer_ and @robinson tell the story 🧵 👇

🏛️ The U.S. Department of Commerce has selected Wormhole ecosystem team @PythNetwork to verify and publish economic data onchain, with all multichain data interoperability powered by @wormhole. Learn more below ⤵️

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The Wormhole Foundation joined 110+ builders, investors, and trade groups in sending a record-setting letter to Congress that called for developer protections in market structure legislation. These protections are essential to keep innovation thriving in the US. Being someone

4/ Wormhole Foundation will honor Stargate’s commitments to counterparties, integrators, and contributors for at least 12 months. $STG holders deserve a competitive process, not a quick sale at a low valuation. The proposed offer and financing details can be found here:

3/ Wormhole contributors and partners see significant opportunities to grow Stargate post-acquisition. Stargate complements existing Wormhole products and two in-development initiatives. With proper resources, Stargate can expand meaningfully and deliver more value to users and

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2/ We respect the Stargate community and want to work together toward a fair outcome for all $STG holders. While we continue diligence efforts, our intent is clear: Wormhole is serious about acquiring Stargate and ensuring partners do not lose any of the access or privileges they

1/ The Wormhole Foundation has arranged financing and is prepared to make an initial offer of at least $120M USDC for @StargateFinance, exceeding the initial $110M ZRO bid. An all-cash purchase provides $STG holders with maximum certainty and immediate liquidity. No delays and no

Community members can comment and learn more on the Stargate forum here:

While we do our best to quickly and accurately value Stargate, please be patient. LayerZero, by virtue of composing half Stargate Foundation’s Board of Directors, is already intimately familiar with Stargate’s metrics and finances. We will do our diligence as quickly as possible.

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Wormhole Foundation contacted the Stargate team, who are reviewing a mutual NDA. Once that agreement is in place, our teams will work together so Wormhole can provide the highest possible premium to LayerZero’s modest offer.

The Wormhole Foundation is committed to keeping the @StargateFinance community updated on where we are in the bidding process. We will provide regular updates throughout the process:

Thank you to the @StargateFinance leadership team for reaching out and engaging in the appropriate consideration of our acquisition bid.

Wormhole Foundation’s Intent to Bid: https://t.co/rn2hmWkC2F

Bottom line: Wormhole Foundation is here to champion a fair deal for STG holders. Let's run a competitive process that truly reflects Stargate's worth.

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We're committed to a transparent, arm's length process. We've reviewed public data on Stargate's treasury (~$92M excluding STG tokens) and performance, but we'd appreciate more details to craft the best possible offer.

Why @Wormhole + Stargate? Combining Stargate's unified liquidity pools with our broad ecosystem of integrations would create a market-dominant force. Higher volumes, higher revenues, and greater stickiness mean immediate and long-term value for $STG holders as well as $W holders.

To make the process fair, we're requesting a 5 business day suspension of the ongoing Snapshot vote. This short delay allows us time to finalize our bid and conduct proper diligence – all in the interest of transparency and maximizing outcomes for STG holders.

STG holders deserve better. The current bid undervalues the protocol's assets, brand, codebase, and team. We're prepared to submit a meaningfully higher offer, and we believe a competitive process will drive even more value for everyone involved.

LayerZero's offer ( https://t.co/MBEFwEUsMT ) values STG at ~$110M (at the time) in ZRO for a treasury holding $76M+ in stables, $16M in ETH, and more. But this ignores Stargate's strong growth: $4B bridge volume in July (up 10x YoY), $345M TVL, and projected $2M annual revenue

At the WF, we have respect for the @StargateFinance protocol, its team, and especially its holders. Stargate is a leader in multichain asset transfers. That's why we're stepping up with our intent to acquire Stargate – to ensure holders get the fair deal they deserve.

In @FortuneMagazine’s latest robotics commentary, OpenMind Founder @JanLiphardt explores a key question: "How do you trust a robot you've never met?" Only through transparent, enforceable, and human-first standards can we truly build trust with robots. (Full Article Below)