Across Protocol proposes ACX token equity swap and transformation into a C-corporation

Across Protocol has initiated a temperature check proposal, aiming to transform the existing DAO and token structure into a US C-corporation and equity structure. The new entity, AcrossCo, will become the operating company. ACX token holders can choose to exchange their tokens for AcrossCo equity at a 1:1 ratio, or redeem them for USDC at the average monthly market price within six months. Larger holders can directly exchange for equity, while smaller holders can participate through a free special purpose entity. Co-founder Hart Lambur stated that if community feedback is positive, a formal governance vote will be launched two weeks after the temperature check concludes. Previously, Across Protocol raised 51 millions USD through two rounds of token financing, with the latest round led by Paradigm. The current price of ACX token is about $0.035, up approximately 4% in the past 24 hours, but down about 84% over the past year.