Paradigm-supported Across Protocol is exploring allowing ACX holders to exchange tokens for equity.

Crypto World News: Across Protocol has initiated a temperature check proposal to explore transforming the existing DAO and token structure into a U.S. C Corporation and equity structure. Under this plan, the new entity AcrossCo will become the operating company of Across Protocol. ACX token holders can choose to exchange their tokens 1:1 for equity in AcrossCo or, within a six-month window, redeem ACX for USDC at an average market price over one month. Larger holders can directly convert to equity, while smaller holders can participate through a free special purpose entity structure. Hart Lambur, co-founder of Across Protocol, stated that if community feedback is positive, the team will initiate a formal governance vote two weeks after the temperature check, with results decided by a simple majority. The team noted that as institutional partners’ demand for protocol infrastructure grows, the current DAO structure faces limitations in enforceable contracts and clear legal entities. Across Protocol previously raised a total of $51 million through two rounds of token financing, with the most recent $41 million round led by Paradigm, and participation from Bain Capital Crypto, Coinbase Ventures, and Multicoin Capital. The current price of the ACX token is approximately $0.035, up about 4% in the past 24 hours and down roughly 84% over the past year.