🚀 Across Proposes Fixing ACX Token Supply at 1 Billion
#Across #ACXToken #TokenSupply #Decentralization #Governance #Blockchain #Cryptocurrency
According to Odaily, Across co-founder Hart Lambur has initiated a proposal on Snapshot seeking community approval to permanently fix the total supply of ACX tokens at 1 billion. Lambur stated that LayerZero founder Bryan Pellegrino recently criticized Across's token design, claiming that the ACX ERC20 token contract is susceptible to unauthorized token minting. The Across team disagrees with Pellegrino's allegations. However, in the spirit of decentralization and transparency, they propose this change to permanently fix the ACX token supply at 1 billion. This adjustment does not require any modifications to the ACX contract but involves relinquishing Across Governance's ownership of the ACX token contract, thereby preventing any party from altering the token supply through minting or burning in the future.#Across #ACXToken #TokenSupply #Decentralization #Governance #Blockchain #Cryptocurrency
🚀 Across Protocol Considers Transition to U.S. C-Corporation
#AcrossProtocol #Ccorporation #DAO #ACXToken #USDC #Governance #Blockchain #Crypto #EnterpriseContracts #LegalCompliance
Across Protocol has initiated a proposal to transition from its current DAO and token structure to a U.S. C-corporation. According to NS3.AI, this move would allow ACX token holders six months to opt for either an equity exchange or a USDC buyout, contingent on the proposal's approval. The team plans to submit a formal governance proposal two weeks after gauging community sentiment, with the final decision resting on a majority vote. Across Protocol is exploring this change to provide enterprise partners with enforceable contracts and a clear legal counterparty.#AcrossProtocol #Ccorporation #DAO #ACXToken #USDC #Governance #Blockchain #Crypto #EnterpriseContracts #LegalCompliance
🚀 Risk Labs Proposes Transition to U.S. C Corporation
#RiskLabs #AcrossProtocol #Ccorporation #DAO #ACXtoken #USDC #tokenexchange #cryptonews #blockchain #businessopportunities #equityconversion #SPV #tokenholders #cryptocurrency #decentralizedfinance
Risk Labs, the development team behind Across Protocol, has proposed dissolving its existing DAO structure to transition the project into a U.S. C corporation. According to ChainCatcher, the team believes that the current token and DAO framework has hindered its ability to collaborate with institutional and corporate partners. Adopting a traditional corporate structure is expected to open new business opportunities.
Under the proposal, ACX token holders can choose to exchange their tokens for equity in the new company on a 1:1 basis or redeem them for USDC at a price of $0.04375 per token, which is a 25% premium over the 30-day average price. Holders with more than 5 million tokens can directly convert to equity, while smaller holders can participate through a special purpose vehicle (SPV).
Following the announcement, ACX surged 70% in a single day to reach $0.06. The redemption window is expected to open within three months after the proposal is approved and will remain open for six months. Co-founder Hart Lambur emphasized that the final decision requires approval through a DAO vote.#RiskLabs #AcrossProtocol #Ccorporation #DAO #ACXtoken #USDC #tokenexchange #cryptonews #blockchain #businessopportunities #equityconversion #SPV #tokenholders #cryptocurrency #decentralizedfinance
🚀 Across Protocol Proposes Transition to U.S. C Corporation
#AcrossProtocol #ACXtoken #Ccorporation #decentralizedautonomousorganization #tokentrading #ForesightNews #proposal #cryptonews #blockchain
Across has announced that a proposal for ACX token equity trading and acquisition is now available. According to Foresight News, the proposal seeks approval to transform the Across protocol from a token-based decentralized autonomous organization structure to a U.S. C corporation. ACX token holders have seven days to cast their votes on the proposal.#AcrossProtocol #ACXtoken #Ccorporation #decentralizedautonomousorganization #tokentrading #ForesightNews #proposal #cryptonews #blockchain