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Regulatory Licenses, Registrations, and Approvals

The proposed ACXToken has a permanent supply cap of 1 billion in response to the founder of LayerZero's doubts.

2024-10-22 11:05:35

ZRO0.05%

ACX-6.40%

BlockBeats news, on October 22, according to TheBlock, Hart Lambur, co-founder of Across Protocol, proposed to permanently set the supply limit of ACX Token to 1 billion. If the proposal is approved by the community, Across Governance will relinquish all ownership control of ACX Token and set it to the 0x0 Address to prevent any future minting or burning operations on the token supply. The proposal is currently undergoing a temperature check vote, with a support rate as high as 99.5%. BlockBeats previously reported that Bryan Pellegrino, CEO of the Cross-Chain Interaction protocol LayerZero, wrote to the Across Protocol team on social media, stating, 'I want to inform you that there is a critical issue with your token contract. You mistakenly exposed a function that was originally intended to be an internal private function, which Open Zeppelin wrote in its ERC20 Token implementation to burn tokens, and gave it to the contract owner - this allows you to withdraw tokens from any wallet at any time and arbitrarily set the balance of any account to 0. In addition, your Across Protocol and UMA Protocol contracts both have the ability to mint tokens without limit.'

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