ACX climbs 80% on Across news, dramatically beating Bitcoin, as the platform plans to exit its DAO framework.

Across Protocol Proposes Shift From DAO to U.S. C-Corp, ACX Token Surges 80%

Across Protocol’s team is proposing a major structural shift: giving ACX token holders the option to either swap their tokens for equity in a new U.S. C-corporation or sell their holdings at a 25% premium. If approved, this would mark one of the first high-profile reversals from a token-based DAO to a traditional corporate structure.

The move comes as the cross-chain bridging protocol’s stewards cite challenges in closing institutional deals under its current DAO framework. “As Across deepens our work with institutional and enterprise partners, the token and DAO structure has materially impacted our ability to close partnerships and integrations,” the team wrote in a “temp-check” proposal published Thursday. “Transitioning to a traditional legal entity would meaningfully improve our ability to enter enforceable contracts, structure revenue agreements, and deliver more value to Across stakeholders.”

Following the announcement, ACX surged 80% to $0.06, briefly touching $0.07, before settling. The token was trading at roughly $0.033 prior to the proposal. The sharp rally suggests the market is pricing in the proposed buyout floor, though traders may also be betting that the equity conversion will prove more valuable than the $0.04375 USDC option. By contrast, Bitcoin and the broader CoinDesk 20 index remain largely flat.

A temp check in DeFi governance is essentially a non-binding poll designed to gauge community sentiment before a formal vote. If the proposal passes, token holders would have two paths:

• Equity Conversion: Holders with over 5 million ACX could directly convert tokens into shares of the new entity, “AcrossCo,” which would hold all protocol IP and manage development. Smaller holders could join via a no-fee SPV, with a minimum of 250,000 ACX (roughly $10,000 at current prices), with a 1:1 token-to-share ratio for all participants.
• USDC Buyout: Those opting out of equity could sell tokens for USDC at $0.04375, a 25% premium over the 30-day average trading price. The buyout window would open within three months of approval and remain available for six months, funded by the protocol’s liquid assets.

The governance timeline includes a community call on March 18, formal discussion through March 25, and a Snapshot vote on March 26. If passed, the conversion process would begin in early April.

DeFi advocates have long argued that tokens and DAOs offer superior models for decentralized infrastructure. Across’s proposal flips that narrative, suggesting that its current structure may actually hinder growth and that a conventional corporate framework could deliver greater value to stakeholders.

Risk Labs called ACX “significantly undervalued” and described the proposal as an opportunity to “double down on Across” via a structure more familiar to institutional partners. The token’s 24-hour trading volume of $149 million—roughly 3.5 times its market cap—highlights the intense speculative interest surrounding the proposal.

Whether this momentum translates into genuine support for the structural shift—or merely represents trading around the buyout premium—will be decided during the coming weeks of governance discussions.