Paradigm-backed Across Protocol explores letting ACX holders exchange tokens for equity

Across Protocol, a blockchain interoperability protocol backed by Paradigm, is exploring a significant structural change: moving from its current Decentralized Autonomous Organization (DAO) and token structure to a U.S. C-corporation, named AcrossCo, to better facilitate long-term growth and institutional partnerships.

Under the proposal, ACX tokenholders would be given two options: exchange their ACX tokens for equity in AcrossCo (with larger holders exchanging directly and smaller holders using a special purpose vehicle), or participate in a token buyout, redeeming ACX for USDC based on the one-month average market rate over a six-month window. The underlying protocol infrastructure will remain open and permissionless, while AcrossCo will manage IP, development, and commercialization.

The team cited that the current DAO structure creates a bottleneck when dealing with enterprise partners who require enforceable contracts and a clear legal counterparty. The proposal is currently a temperature check, and if community sentiment is positive, a formal governance proposal will follow, requiring a majority vote to pass.

(Source：The Block)