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Across Protocol plans to transition from a DAO to a C Corporation, allowing ACX token holders to exchange shares or redeem USDC.
Deep Tide TechFlow News, March 11, reports that Paradigm-supported cross-chain interoperability protocol Across Protocol has released a temperature check proposal to explore transitioning from a DAO structure to a U.S. C Corporation (AcrossCo).
Token holders will have two options:
Swap: Exchange ACX for AcrossCo equity at a 1:1 ratio
Redemption: Convert ACX to USDC at the average price over one month, with a redemption window of six months
The team stated that the current DAO structure faces bottlenecks when signing enforceable contracts with institutional partners, and the transition will help drive the protocol’s next phase of growth. If community sentiment is positive, the team will initiate a formal governance vote in two weeks, with the majority vote determining the final outcome.