Across Protocol mulls swapping ACX tokens for shares in US corporate transition

Blockchain interoperability protocol Across Protocol (ACX) is considering a plan to exchange its ACX tokens for corporate shares as it transitions from a Decentralized Autonomous Organization (DAO) to a U.S. corporation, The Block reported. If the plan is implemented, the protocol's operating entity will become a U.S. corporation named AcrossCo. ACX holders will have the option to either exchange their tokens for shares in the new company or opt for a token buyout in USDC. For the buyout, holders can exchange each ACX for $0.04375 in USDC, a price representing the recent one-month average plus a 25% premium. The protocol itself will continue to operate without interruption even after the transition to a U.S. corporate structure. The new operating company will hold the intellectual property (IP) and lead development, partnerships, and commercialization efforts. Across has raised a total of $51 million in funding to date.