Risk Labs Proposes Transition to U.S. C Corporation

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.