Across Protocol plans to transition from a DAO to a C Corporation, allowing ACX token holders to exchange shares or redeem USDC.

robot
Abstract generation in progress

Deep Tide TechFlow News, March 11, according to The Block, 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 on a 1:1 basis
  • Redemption: Convert ACX to USDC at the average price over one month, with a redemption window of 6 months

The team stated that the current DAO structure faces bottlenecks when signing enforceable contracts with institutional partners. The transition aims to promote 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.

ACX83,17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin