The price of Across Protocol token surged sharply after a governance proposal suggested a major structural shift for the project. Summary Across Protocol token jumped 85% as a proposal suggests converting tokens into company shares. Holders could exchange ACX for equity in a new US C-corp or sell tokens for USDC in a buyout offer. The move is meant to help the protocol secure institutional partnerships and commercial agreements. ACX saw a sharp surge in activity, trading at about $0.063 at the time of writing. The token gained roughly 85% over the previous 24 hours, lifting its market capitalization to nearly $45 million. Market participation also spiked. Daily trading volume climbed to approximately $51.7 million, representing an increase of more than 3,000% compared with the day before. A similar trend appeared in the derivatives market. CoinGlass data show that derivatives trading volume expanded dramatically, rising over 7,700% to $138 million. Meanwhile, open interest jumped by around 950%, reaching $20 million, pointing to a wave of new positions entering the market. The sudden rally followed a proposal submitted on March 11 to the Across governance forum by Risk Labs, the core development group responsible for Across Protocol. Proposal explores token-to-equity transition The proposal, titled “The Bridge Across,” asks the community whether the protocol should transition from a token-based structure into a U.S. C-corporation. If approved, a newly formed entity tentatively called AcrossCo would take over development, partnerships, and commercialization. The company would also hold the protocol’s intellectual property. Proposal: “The Bridge Across”A temp-check exploring whether Across should evolve from a DAO + token structure into a U.S. C‑corp. via a token-to-equity exchange and token buyout.Thread and proposal below ⤵️ pic.twitter.com/AtE9DHGxS4— Across (@AcrossProtocol) March 11, 2026 The proposal gives ACX holders two possible paths. They can either swap their tokens for equity in the newly formed company or sell their holdings through a buyout offer. For those choosing the equity route, the plan outlines a 1:1 conversion, meaning each ACX token would be exchanged for one company share. Holders with more than 5 million ACX would be able to convert their tokens directly into equity. Smaller holders, however, would gain exposure through a special purpose vehicle designed to pool their participation. Token holders who would rather exit could instead accept a buyout offer set at $0.04375 per ACX, with payment made in USD Coin. That price represents roughly a 25% premium to the token’s average trading price over the past 30 days. The buyout window would remain open for six months if the proposal ultimately passes. Funding for the offer would come from the protocol’s liquid treasury. Institutional partnerships driving the proposal According to the proposal, the shift toward a traditional corporate structure is meant to address practical challenges faced by decentralized autonomous organizations. DAO-based governance can make it difficult to sign enforceable contracts, establish liability frameworks, or negotiate certain types of commercial agreements. These limitations sometimes create barriers when dealing with institutional partners. Risk Labs said the change could make it easier for the project to secure partnerships and revenue agreements while continuing to build the protocol’s infrastructure. The proposal is currently a temperature check, meaning it is meant to gather community feedback before any binding vote takes place. The timeline outlined in the document suggests a governance vote could occur in early April. If approved, legal structuring and token conversion infrastructure would begin shortly afterward. Across Protocol has spent several years building cross-chain bridging infrastructure, including fast transaction systems designed to move assets between blockchains in seconds.
