Across Protocol (ACX) is a decentralized cross-chain bridge designed to facilitate fast, cost-effective, and secure transfers of assets between Ethereum and various Layer 2 (L2) networks. By leveraging an intents-based architecture, Across enables seamless interoperability, allowing users to move assets across chains with minimal fees and rapid transaction times.
What Is Across Protocol (ACX)?
Launched by Risk Labs, the team behind the UMA protocol, Across Protocol addresses the challenges of cross-chain liquidity and interoperability. Its unique design employs a single-sided liquidity pool on Ethereum mainnet, a network of competitive relayers, and an optimistic oracle to ensure efficient and secure cross-chain transactions.
An Overview of the Across Ecosystem
How intents works | Source: Across Protocol
The Across ecosystem comprises several key components that work together to provide a robust cross-chain bridging solution:
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Intents-Based Architecture: Across operates using cross-chain intents, which are essentially user-defined outcomes that the protocol fulfills. This abstraction allows for seamless user experiences without requiring direct interaction with multiple blockchains.
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Single-Sided Liquidity Pool: Liquidity providers (LPs) supply assets to a centralized pool on Ethereum mainnet, which facilitates efficient capital utilization and reduces the need for fragmented liquidity across multiple chains.
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Competitive Relayers: A network of relayers competes to fulfill user intents, ensuring optimal execution in terms of speed and cost. This competition drives down fees and accelerates transaction times.
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Optimistic Oracle: Secured by UMA's optimistic oracle, Across relies on a dispute-based system to verify cross-chain transactions, enhancing security without compromising efficiency.
Across Protocol's Core Features
Across Protocol’s intents’ architecture | Source: Across docs
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Fast and Low-Cost Transfers: Empirical data indicates that Across offers some of the fastest and most affordable cross-chain transfers, with average fill times under one minute and costs as low as $1 for bridging 1 ETH.
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Enhanced Security: The protocol's reliance on UMA's optimistic oracle and its intents-based design provide robust security measures, minimizing risks associated with cross-chain transactions.
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Capital Efficiency: By utilizing a single-sided liquidity pool and competitive relayers, Across maximizes capital efficiency, reducing the need for excessive liquidity across multiple chains.
ACX Token Use Cases and Tokenomics
The ACX token serves as the native utility and governance token within the Across ecosystem:
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Governance: ACX holders participate in the decentralized governance of the Across Protocol, influencing decisions that affect the protocol's functionality and treasury management.
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Incentives: Liquidity providers and relayers earn ACX rewards for their participation, fostering active engagement and growth within the ecosystem.
ACX Token Distribution
The total supply of ACX tokens is fixed at 1 billion, allocated as follows:
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Across DAO: 250 million ACX tokens are held by the Across DAO, controlled by ACX tokenholders via Snapshot votes.
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Risk Labs Treasury: 195 million ACX tokens are allocated to Risk Labs, the foundation supporting the Across Protocol. Approximately 150 million of these tokens are designated for team members under 4-year vesting agreements, with the remainder reserved for future team members and potential investor sales.
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Seed Investor Success Token: 110 million ACX tokens were reserved at launch for Across Success Token investors. The Success Token expires on June 30, 2025.
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Other Investors: 110.6 million ACX tokens have been distributed to other investors with lockup agreements.
Across Protocol's Roadmap
Across Protocol is committed to continuous development and expansion:
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Expansion to Multiple EVM Chains: Plans are underway to extend support to additional Ethereum Virtual Machine (EVM) compatible chains, broadening the protocol's reach and utility.
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Introduction of Cross-Chain Intents: The protocol aims to develop new primitives for sending custom messages alongside token transfers, enhancing cross-chain functionality.
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Governance Innovations: Ongoing efforts to innovate on DAO governance structures will empower the community and ensure sustainable protocol development.
Conclusion
Across Protocol stands out as a leading solution for cross-chain asset transfers, offering unparalleled speed, cost efficiency, and security. Its innovative intents-based architecture and robust ecosystem components position it as a pivotal player in the evolving landscape of decentralized finance.