Across Protocol Eyes C-Corp Transition, ACX Token Surges 80%
Across Protocol has proposed a major structural shift, giving ACX token holders the choice to convert their tokens into equity in a new U.S. C-corporation or sell them for a 25% premium. If approved, this could be one of the first significant reversals from a DAO to a traditional corporate model.
The team cited challenges in securing institutional partnerships under the current DAO setup. “The token and DAO structure has materially impacted our ability to close partnerships and integrations,” the proposal said. “Transitioning to a traditional legal entity would improve our ability to enter enforceable contracts, structure revenue agreements, and deliver more value to stakeholders.”
Following the announcement, ACX surged 80% to $0.06, up from $0.033, briefly hitting $0.07. Bitcoin and the broader CoinDesk 20 index remained largely flat.
Holders would have two options:
- Equity Conversion: Large holders (5M+ ACX) can convert directly into shares of the new entity, AcrossCo, which will hold all protocol IP. Smaller holders can participate via a no-fee SPV starting at 250,000 ACX, with a 1:1 token-to-share ratio for all participants.
- USDC Buyout: Tokens can be sold at $0.04375, a 25% premium, with a six-month buyout window funded by protocol liquidity.
Governance includes a community call on March 18, discussions through March 25, and a Snapshot vote on March 26. Conversion would start in early April if approved.
DeFi proponents have long championed DAOs over traditional corporations, but Across argues a conventional C-corp could better support growth and institutional adoption. Risk Labs described ACX as “significantly undervalued” and the proposal as a chance to “double down on Across.”
ACX’s 24-hour trading volume of $149 million—over three times its market cap—reflects strong market interest as governance discussions unfold.
