It would be stupid to stop fighting Hamas for purely a cease fire. The only way it could work is if they agree to come to negotiation table for two-state solution. Otherwise they would just regroup and continue with same old same old.
The right approach is recognize moderate Palestinian representatives that are willing to work a deal for a two-state solution regardless what the fanatic elements on both sides of this dispute want. Any deal should included forced displacement of each others population or treatment of minorities will become a source of ongoing tension. Kick out all the Jewish settlers to a negotiated border. Kick out any Palestinians with Israeli citizenship from Israel. Any Palestinian state should agree to be democratic and lack a military from day one.
Then put the UN peacekeeping forces in-between like exists in Cyprus between Turks and Greeks. Guarantees from all members of UN security council that the UN will police the Palestinian state for as long as necessary. Otherwise irredentist Islamic theocratic element might vote their way back to murdering any moderate Palestinians and resume lobbying rockets at Israel.
And If those guarantees are not met… instead of using that as a pretext to annex Palestinian property just bomb in back into the stone age from the air like is currently going on in Gaza. Israel’s military is clearly far far superior than anything Palestinians have. The claim a Palestinian state poses an existential threat to Israel is absurd lie to prevent compromise with a two-state solution. If anything not supporting a two-state solution poses an existential threat to Israel as nations hostile to Jews. far bigger than any micro Palestinian state, will use it as a pretext to justify violence against Jews and Israel.