LayerZero Labs sets December 15 deadline for STG to ZRO conversions

LayerZero Labs is updating operations across Stargate and its own ecosystem, with changes covering STG-to-ZRO conversions, Stargate transaction delivery, testnet support and bug bounty programs.

According to an update released on Sept. 15, STG holders can continue to convert STG into ZRO until December 15, a service that has been available since LayerZero’s acquisition of Stargate last year. Conversions will not be supported after that date, and LayerZero said it will coordinate with exchanges, market makers, custodians and other ecosystem partners to facilitate the transition.

Stargate will also end support for its Bus delivery method on October 1. From then on, all transactions will use Stargate Taxi, which delivers assets immediately on the destination chain, rather than Bus, which batches transactions to lower gas costs.

For LayerZero testnets, the team said it will reduce support to roughly 10 prioritized networks. LayerZero has historically supported testnets across nearly every chain connected to its network, but said most have not been consistently utilized, spreading resources across a larger number of networks. Support for other testnets will be phased out by the end of October, while an updated list of supported chains will be maintained in the documentation.

LayerZero is also changing its security programs. The V1 bug bounty will conclude on December 15 when the LayerZero Labs V1 Relayer is deprecated. The V2 bug bounty will increase to $3.5 million, and the legacy Stargate bug bounty will be incorporated into the LayerZero program immediately.