The Edge Podcast Across Token Buyout: The First Proposal to Convert Back to a Private Company
Hart Lambur is the CoFounder of Across.
We host a timely new discussion on the reasoning behind the first ever major token buyout in DeFi, a proposal to convert ACX tokenholders into equity shareholders of a traditional private company for Across. Hart explains how the $25M treasury would finance the buyout, and the vision for Across's future as stablecoin infrastructure where "$1 equals $1" and users pay nothing to move money across chains.
In this episode, we cover:
+ Why the token model isn't working: DAO governance challenges and misaligned incentives
+ How the buyout works: token-to-equity conversion, and who can participate
+ The new business model: Free stablecoin movement powered by intents, with issuers paying fees instead of users
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⏱️ TIMESTAMPS
0:00 - Intro
1:27 - Hart’s background with Risk Labs
4:46 - Big announcement: Across token buyout proposal
9:13 - How the token buyout works: rolling into a private entity
10:58 - History of the ACX token: Why it launched and what wasn't working
14:26 - High FDV tokens and broken markets
18:54 - Token governance challenges
20:13 - ACX token ownership: DAO, investors, and retail breakdown
24:32 - Token to equity conversion
25:35 - $25M Across treasury will finance the buyout
28:38 - New business: Making stablecoin movement free for users
36:09 - Why DAOs struggle with B2B contracts vs private companies
40:39 - How the new business works between Across and stablecoin issuers
42:28 - What are intents and how they power Across's "$1 = $1" vision
45:58 - Three paths to success
47:30 - Closing
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🔗 GUEST LINKS
► Across website: https://across.to/
► Across proposal: https://forum.across.to/t/the-bridge-across/2097
► Hart's thoughts on token buyout: https://x.com/hal2001/status/2031737518505537907?s=20
► Across on X: https://x.com/AcrossProtocol
► Hart on X: https://x.com/hal2001
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast.