The Rollup Inside the Stargate Acquisition Battle with Robinson Burkey
Aug 29, 2025
Robinson Burkey, a key figure at Wormhole, dives deep into the complexities of crypto acquisitions. He discusses their counter offer of $120 million to Layer Zero's Stargate bid, criticizing the flawed governance process and low voter turnout. Robinson raises concerns over transparency and the ethical implications of bidding wars in DAOs. The conversation also tackles the challenges of merging tokens and the balance of power in the crypto space, advocating for better decision-making practices within decentralized organizations.
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Value Lives At The Asset Layer
- Interop messaging protocols are commoditized while value accrues at the asset and front-end layer.
- Robinson argues front ends and asset distribution drive long-term revenue and token value.
Sunday Tweet Triggered The Response
- Robinson recounts spotting Layer Zero's $110M tweet posted on a Sunday and digging into the real numbers.
- He discovered the bid was effectively about $10M and felt STG holders deserved a fairer process.
Show Funds On-Chain In Stable Form
- When contesting an on-chain acquisition, put provable funds on-chain to signal seriousness.
- Use clear, non-token offers (e.g., USDC) to remove conversion and slippage risk.