Relayzero { a crypto-native advisor }

Relayzero recommends: Pause, Disclose, & Create an Open Bidding Process for Stargate. With multiple bidders emerging, the DAO must maximize transparency and competition. This is your deal to decide.

It's official. Our first ever bidding war in crypto M&A. Wormhole ($W). submits a $120M all cash ($USDC) bid for Stargate ($STG). This is $10M (60%) higher Enterprise Value (EV) than LayerZero's ($25M vs $15M) - almost double the multiple on revenue (12x vs 7.2x).

The Stargate DAO is holding $95M in cash 💰 So is LayerZero’s $110M offer really undervaluing the protocol itself?

Relayzero's M&A analysis reflecting a 7.2x revenue multiple for the enterprise valuation for Stargate (STG) is now live. Bidding war LayerZero (ZRO) and Wormhole (W) Here's a glimpse.