Odaily Planet Daily reports: Across Protocol has initiated a temperature check proposal to explore transitioning its existing DAO and token structure into a U.S. C-corporation and equity model. Under the proposal, the new entity AcrossCo will become the operating company of Across Protocol. ACX token holders may choose to exchange their tokens on a 1:1 basis for equity in AcrossCo, or redeem ACX for USDC at the one-month average market price during a six-month window. Larger holders can directly convert to equity, while smaller holders can participate through a free special-purpose entity structure.
Hart Lambur, co-founder of Across Protocol, said that if community feedback is positive, the team will initiate a formal governance vote two weeks after the temperature check, with results decided by a simple majority.
The team stated that the current DAO structure has limitations in terms of enforceable contracts and a clear legal entity, as demand for the protocol’s infrastructure grows among institutional partners. Across Protocol previously raised $51 million across two token rounds; its most recent round of $41 million was led by Paradigm, with participation from Bain Capital Crypto, Coinbase Ventures, and Multicoin Capital. The ACX token is currently trading at approximately $0.035, up about 4% over the past 24 hours but down approximately 84% over the past year.