ACX Token Experiences 85% Surge Following Proposal for Token-to-Equity Conversion

The price of ACX, the token of Across Protocol, skyrocketed by 85% after a governance proposal was made, suggesting a significant change for the protocol's structure. This shift involves converting the token system to a traditional corporate model. The proposal has dramatically increased market activity indicators, including trading volumes and market capitalization.

Key Takeaways

ACX token price surged 85% to around $0.063 following a governance proposal.
Daily trading volume skyrocketed by over 3,000% to approximately $51.7 million.
The proposal suggests a transition from a token-based model to a U.S. C-corporation structure.
Token holders can swap tokens for equity or accept a buyout offer.
The change is designed to enhance institutional partnerships and streamline operations.

ACX price gains 85% as Across Protocol proposes token-to-equity conversion - 1

ACX Price Surge

The Across Protocol token, ACX, experienced a remarkable increase in price, trading at approximately $0.063 during this report. This price jump of about 85% in just 24 hours has pushed its market capitalization to nearly $45 million.

This surge also brought a notable rise in market participation, with daily trading volume reaching around $51.7 million, which is an increase of over 3,000% from the previous day. The derivatives market echoed this trend, with CoinGlass reporting a staggering 7,700% rise in trading volume to $138 million, while open interest rose by roughly 950%, hitting $20 million. This indicates a surge of new positions entering the market as investors reacted to the governance proposal put forth by Risk Labs, the main development team behind Across Protocol.

Proposal for Transition to a Corporate Structure

The governance proposal, titled “The Bridge Across,” was submitted on March 11. It invites the community to consider shifting the protocol from a token-based structure to a U.S. C-corporation. If the community agrees, a newly established entity, likely called AcrossCo, will take charge of further development, partnerships, and commercialization while retaining 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

In this proposal, ACX token holders have two options: they can either swap their tokens for equity in the new entity or choose to sell their tokens through a buyout offer. The conversion plan suggests a 1:1 exchange where each ACX token would be exchanged for one share of the new company. Token holders with more than 5 million ACX can convert their tokens directly, while smaller holders will be able to participate through a special vehicle designed for their inclusion.

For those wishing to exit, a buyout offer is available at $0.04375 per ACX, paid in USD Coin. This offer represents about a 25% premium over the token's average trading price in the last 30 days. If the proposal receives approval, the buyout option will be available for six months, with funding sourced from the protocol’s liquid treasury.

Supporting Institutional Partnerships

The proposal indicates that this transition to a conventional corporate structure aims to resolve practical difficulties often experienced by decentralized autonomous organizations (DAOs). Issues such as difficulty in signing enforceable contracts and establishing liability frameworks can hinder negotiations with institutional partners.

Risk Labs emphasized that this shift could facilitate better partnerships and revenue opportunities, all while continuing to enhance the protocol's infrastructure. Currently, the proposal is in the temperature check phase, where community feedback is sought prior to any formal vote. The timeline suggests a governance vote might occur in early April. If the proposal is approved, the legal structuring and token conversion process will begin shortly after.

Across Protocol has dedicated several years to the development of cross-chain bridge infrastructure, focusing on efficient transaction systems that allow for asset movement between blockchains almost instantaneously.