Across Protocol published a temp‑check proposing to dissolve its token/DAO structure, create a U.S. C‑corp “AcrossCo” to hold IP and manage development, and give token holders two options: convert ACX to equity at a 1:1 token‑to‑share ratio (direct for holders >5M ACX; smaller holders via a no‑fee SPV with 250,000 ACX minimum) or sell tokens for USDC at $0.04375 (a 25% premium to the 30‑day average). The proposal triggered an immediate market reaction (ACX rose ~80% to ~$0.06–0.07 on ~$149M volume, ~3.5x market cap). Governance timeline: community call March 18, discussion through March 25, Snapshot vote March 26; if approved conversion begins early April and the USDC buyout window opens within three months for six months, funded by protocol liquid assets. The team says the corporate form is needed to close institutional deals and views ACX as undervalued.

The proposal sets concrete, actionable mechanics — a 1:1 token‑to‑share conversion path and a fixed USDC buyout price equal to $0.04375 (25% above the 30‑day average) — and a clear short governance timetable; those facts explain the immediate ~80% price move and heavy volume. The team's stated goal to form a U.S. C‑corp to enable institutional deals provides a business rationale that likely drove bullish trading.