Across Protocol Considers C-Corp Transition, ACX Token Rockets 80%
Across Protocol has proposed a major pivot: allowing ACX token holders to swap their tokens for equity in a new U.S. C-corporation or sell them for a 25% premium. This could be one of the first high-profile moves from a decentralized DAO to a traditional corporate structure.
The proposal comes as the team cites difficulties in closing institutional partnerships under the current DAO setup. “As Across deepens our work with institutional and enterprise partners, the token and DAO structure has materially impacted our ability to close partnerships and integrations,” the team wrote in a temp-check poll. “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, briefly hitting $0.07, up from $0.033 before the proposal. The jump reflects market pricing of the buyout floor, though many traders may be anticipating higher offers or valuing the equity option. Bitcoin and the CoinDesk 20 remain flat.
The plan outlines two options for holders:
- Equity Conversion: Large holders (5 million ACX+) can convert directly into shares of the new entity, AcrossCo, which will manage all protocol IP. Smaller holders can join via a no-fee SPV starting at 250,000 ACX, with all participants receiving a 1:1 token-to-share ratio.
- USDC Buyout: Tokens can be sold at $0.04375, a 25% premium on the recent average, with the buyout window open for six months.
Governance will include a community call on March 18, discussions through March 25, and a Snapshot vote on March 26. If approved, the conversion process would start in early April.
DeFi proponents have traditionally championed DAOs as superior to traditional corporations. Across is now challenging that view, arguing a conventional corporate model could better support growth and institutional adoption. Risk Labs noted ACX is “significantly undervalued” and described the proposal as a chance to “double down on Across.”
The token’s 24-hour trading volume of $149 million—3.5 times its market cap—signals strong speculative interest, with final support to be determined in the upcoming governance discussions.
