Cross-chain Liquidity Agreement

On March 13, Stargate, a cross-chain liquidity agreement based on LayerZero, tweeted that the Stargate Foundation recommended DAO not to reissue STG tokens. After the bankruptcy of FTX last year, the FTX/Alameda wallet suffered from key leakage or internal problems, and was attacked by hackers and lost about $500 million. The FTX liquidator will eventually transfer all assets to the new wallet, and the key will not be leaked to hackers. Stargate DAO believes that the key of the wallet is likely to be leaked and shared between FTX liquidator/Alameda and hackers, and proposes to reissue STG tokens to transfer these funds out of the wallet. The Stargate Foundation advised the DAO not to reissue STG tokens, and the FTX liquidator may seek compensation Analysis based on this information:Stargate, a cross-chain liquidity agreement based on LayerZero, recently tweeted that the Stargate Foundation recommended against reissuing its STG tokens. This decision is based on the belief that the key to the…