Across Protocol plans to dissolve the DAO and transition to a private company, offering token holders equity or USDC exit options

The development team behind Across Protocol, Risk Labs, has proposed to dissolve the existing DAO structure and transform the project into a U.S. C Corporation. The team pointed out that the current token and DAO architecture have significantly impacted its ability to collaborate with institutional and corporate partners, and a traditional corporate structure will help explore new business opportunities.

According to the proposal, ACX token holders can choose to exchange their tokens for equity in the new company at a 1:1 ratio or redeem them for USDC at a price of $0.04375 each, which is a 25% premium over the average price of the past 30 days. Holders of over 5 million tokens can directly convert to equity, while smaller holders can participate through a Special Purpose Vehicle (SPV).

After the announcement, ACX surged 70% in a single day to $0.06. The redemption window is expected to open within three months after the proposal is approved, lasting for six months. Co-founder Hart Lambur emphasized that the formal decision must be approved by a DAO vote.