Yeliz Akmaca 
Across Protocol announced plans to fully dissolve its decentralized governance (DAO) and transform into a traditional US C-corporation, sending ACX token soaring 80% to $0.07 on Thursday.
What Excited Investors
The market frenzy is primarily driven by the new governance proposal offering token holders two tangible options. ACX’s surge is explained by the 25% premium buyback guarantee or the chance to receive 1:1 equity in the new “AcrossCo” company. This structural change is interpreted not as speculative hype but as the market pricing a corporate “floor” and potential equity value.
Volume Spike and the Critical March 26 Vote
Prior to the announcement, ACX traded around $0.033. The proposal pushed it to $0.07, stabilizing near $0.06. This reflects investors pricing in higher buyout offers or the equity option’s potential. Over the last 24 hours, trading volume reached $149 million, roughly 3.5× the market cap, indicating speculative intensity. The next two weeks of governance discussions will determine if this interest translates into the corporate transition or remains a buyback play.
DeFi Community and Perspective Shifts
DeFi advocates long argued that tokens and DAOs offer superior decentralized growth structures. However, Across’ team claims the current token structure actively limits growth. Risk Labs, backing the proposal, notes ACX is “significantly undervalued” and frames the plan as a chance to attract corporate investment. Interestingly, some investors still consider the legacy DAO model, but many bet on the long-term value of equity options—highlighting micro-perspective shifts in market sentiment.
AcrossCo and Future Plans
The Risk Labs team confirmed that the DAO setup obstructs corporate partnerships and revenue agreements. Indeed, large enterprises rarely rely solely on “smart contracts” or anonymous communities to formalize legal arrangements. The new entity, AcrossCo, will manage all intellectual property and development, increasing capacity for actionable agreements and direct stakeholder value.
So, the often-complex nature of decentralization is yielding to a predictable corporate model. Especially, whales holding over 5 million ACX can convert tokens directly into equity, while smaller investors gain access via an SPV structure starting at 250,000 ACX.
Ultimately, the move tests the DeFi maxim “token is everything.” Luckily, the market favors economic rationality over ideology. The corporate shift offers a framework for investors to understand and manage risks, potentially ending ACX’s undervaluation.
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