According to The Block, Across Protocol, a cross-chain interoperability protocol backed by Paradigm, has proposed a temperature check to explore transitioning from a DAO structure to a U.S. C corporation (AcrossCo). Token holders will have two options: • Stock conversion: Exchange ACX for AcrossCo equity at a 1:1 ratio • Redemption: Exchange ACX for USDC at the one-month average price, with a redemption window of six months The team stated that the current DAO structure presents bottlenecks in executing contracts with institutional partners, and the transition would help drive the protocol’s next phase of growth. If community sentiment is positive, the team will initiate a formal governance vote in two weeks, with the majority vote determining the final outcome.
Across Protocol Proposes Transition from DAO to C Corporation; ACX Holders Can Swap or Redeem
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Summary
Across Protocol, a cross-chain interoperability protocol backed by Paradigm, has proposed a protocol update to transition from a DAO to a U.S. C corporation (AcrossCo). ACX holders can swap their tokens 1:1 for equity or redeem them for USDC at a price based on the one-month average over six months. The team cited challenges with institutional adoption under the current structure and aims to accelerate growth. A governance vote may begin in two weeks if sentiment is positive, requiring a majority decision.
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