7
Paradigm-backed Across Protocol ($ACX) has announced it is considering transitioning to a US-based company model, replacing its current DAO and token-based governance structure.
A new proposal published by the protocol’s developers suggests a structure that could allow $ACX token holders to exchange their tokens for company shares or sell them at a premium price.
The proposal, titled “The Bridge Across,” was shared by the Risk Labs team at the Across Forum and is currently only a “temp-check” to gather community feedback. Community discussion and a formal management vote will be required before a final decision is made.
The proposal envisages the creation of a new US C-corp company, “AcrossCo,” to manage Across Protocol’s operations. Under this structure, the company will hold the intellectual property rights to the protocol and manage product development, partnerships, and commercial activities.
Risk Labs noted that the protocol has made significant technical advancements in recent years, particularly contributing to the creation of rapid bridging standards in the industry with its cross-chain “intents” architecture. However, the team stated that the DAO and token-based structure can be limiting, especially in corporate collaborations and contract processes.
According to developers, shifting to a more traditional company structure can make it easier to enter into legally binding agreements, create revenue-sharing models, and expand corporate partnerships.
If the proposal is implemented, $ACX token holders will be offered two different options:
Token-to-Stock Exchange
$ACX holders will be able to exchange their tokens for AcrossCo shares at a 1:1 ratio. For example, 1,000 $ACX holders will receive the same number of company shares (or an equivalent stake via an SPV). Investors holding more than 5 million $ACX can convert directly to shares. Smaller investors can participate in this process via an SPV (special purpose vehicle). The minimum conversion amount is planned to be approximately 250,000 $ACX (approximately $10,000).
Under US securities laws, investors in the US will be required to verify their “accredited investor” status, and the number of investors will be limited to certain criteria.
Token Buyback
$ACX holders who do not wish to participate in the equity conversion will have the option to sell their tokens for USDC. The selling price has been set at $0.04375. This price represents a 25% premium over the average trading price of the last 30 days.
The buyout program is planned to remain open for 6 months and will be financed with the protocol’s liquid assets.
The planned timeline for the proposal is as follows:
- March 11: Temp-check suggestion shared on the forum.
- March 18: Community Q&A session
- March 26: Release of the final proposal for Snapshot voting.
- April 2nd: Snapshot voting (acceptance or rejection)
If the proposal is accepted, the legal structuring and technical processes will be initiated. The goal is for token holders to be able to sell or convert their tokens into shares within 3 months.
Risk Labs stated that even if the proposal is accepted, Across Protocol’s operations will continue uninterrupted. The development team indicated that this step aims to create a new governance model that could accelerate the protocol’s growth.
Following this development, the $ACX price saw a daily increase of over 80%.
*This is not investment advice.
