50 Cent‘s Tycoon Houston turned into the venue for a fight between hometown heroes and ex-friends Z-Ro and Trae Tha Truth, and yet Z-Ro says he’s letting it slide. For now, at least.

We use the word “fight” loosely to describe what went down last weekend because, judging by the footage, Z-Ro was totally outnumbered.

TMZ Hip Hop caught up with the Mo City Don Tuesday, who gave us his view of what led up to him being surrounded by Trae’s goons. Z-Ro says he was out Saturday enjoying the Tycoon Houston festivities, taking pics outside with supporters, when he was approached by Trae to have a conversation outside the crowd.

The two Texas-bred stars went their separate ways around 2012 and while Z-Ro admits they haven’t been chummy, he didn’t think they had any real issues … until he was greeted by multiple fists and eventually feet to the face after being lured into Trae’s trap.

Check out the footage … a disoriented Z-Ro actually shrugs off the apparent beatdown to charge his attackers after police intervened, but officers ultimately held him back.

In terms of retaliation, Z-Ro says he’s not as mad as some of the fans in the street … who have torn artists they grew up listening to have issues that escalated to violence.

Z-Ro says he’s been asking Trae for a charitable boxing challenge for years in order to settle their differences, but all he’s gotten is radio silence.