Invest1 publisher2 min readPublished
LayerZero's STG conversion window shuts on December 15 at a rate fixed in 2025
The 0.08634 ZRO per STG rate has been on offer since the 2025 acquisition and expires for good on December 15, 2026. Stargate drops every transaction mode except Taxi on October 1, 75 days earlier.
The Investor · Invest desk
What happened
- LayerZero Labs' September 15 ecosystem update makes December 15, 2026 the last day STG holders can convert into ZRO, and the conversion window closes permanently after it.
- The rate is fixed at 1 STG for 0.08634 ZRO, a figure locked into the acquisition terms agreed in 2025, and it will not move before the deadline.
- From October 1, 2026 Stargate runs Taxi transactions only, ending the choice between modes with different speed and cost trade-offs.
Compiled by The InvestorSomething wrong?How this is made
Why it matters
- decision Every STG holder now picks between a rate they cannot negotiate and holding a token LayerZero will stop converting into ZRO after December 15. Holders who do nothing keep STG past the deadline.
- cost Anyone who built around the batched mode had 16 days of notice, and the engineering hours land 75 days before the token deadline most of them were watching.
- constraint Teams running continuous integration against a testnet that misses the ten-network cut lose that environment, and researchers on the legacy Stargate bounty keep earning only under the V2 rules.
A fixed ratio with an expiry date is an option, and the strike here is 11.58 STG for one ZRO, which is 1 divided by 0.08634 [3][1]. Exercising pays only when ZRO trades above about 11.58 times STG [5]. Below that ratio, selling STG in the market beats converting it, and that alternative exists only until December 15 [2]. After the deadline nothing links the two prices, so in my view STG will track 0.08634 of ZRO more closely as the date gets nearer.
Crypto Briefing's report gives no price for either token, and it puts the leftover at "a meaningful portion of STG supply" [9]. The publisher expects conversion volume to pick up materially as December 15 approaches [10].
The October date arrived with 16 days of notice from the September 15 announcement, and it sits 75 days ahead of the conversion cutoff [3][2]. Converting is a click, but a router, a treasury script or a contract built around the batched mode is code, and Crypto Briefing said users who built workflows or integrations around other transaction modes will need to update them before the October deadline [11]. Taxi prioritises speed over batching efficiency, so an integration tuned for cost per message loses the mode it was built for [5].
The rest of the update is retirement. The V1 Relayer is deprecated on December 15 and the V1 bug bounty ends with it [7]. Supported testnets fall to roughly ten prioritized networks by the end of October [6]. The V2 bounty scales to $3.5 million and absorbs the legacy Stargate program, so the security spend now sits in one program [8]. Researchers who were paid under the older Stargate bounty have to get familiar with the V2 structure to stay eligible, according to Crypto Briefing [12].
If most STG moved across in the year since the acquisition made conversion available, December 15 is housekeeping [9]. If the remainder sits in dormant wallets and in contracts whose owners have moved on, the date strands it. A missed conversion costs one holder, and a broken routing integration costs everyone downstream of it [11][2]. I would put the operational risk on October 1 rather than December 15.
What to watch
- Whether LayerZero publishes a figure for unconverted STG supply, or moves the December 15 cutoff.
- The market ratio of ZRO to STG against the 11.58 break-even in the weeks before December 15.
- Which ten testnets survive the end-of-October cut, and whether any integrator breaks publicly on Taxi-only routing after October 1.