Across Proposes to Fix ACX Token Supply at 1 Billion

Across Proposes Permanent Fix to ACX Token Supply

According to Odaily, Across co-founder Hart Lambur has initiated a proposal on Snapshot seeking community approval to permanently fix the total supply of ACX tokens at 1 billion.

Background on the Proposal

The call for this significant change comes on the heels of criticism from LayerZero founder Bryan Pellegrino, who recently expressed concerns regarding the design of the ACX token. Pellegrino claimed that the current ACX ERC20 token contract is vulnerable, which could lead to unauthorized minting of tokens.

Response from the Across Team

In light of Pellegrino's allegations, the Across team has clearly stated their disagreement with the criticisms. Despite this, they value the principles of decentralization and transparency within the community.

Details of the Proposed Change

The proposed adjustment aims to permanently fix the ACX token supply without modifying the actual token contract. Instead, it involves a relinquishment of ownership by the Across Governance over the ACX token contract. This means that no party can alter the token supply through minting or burning in the future.

Importance of Decentralization

This proposal underscores the commitment of the Across team to a decentralized governance model, ensuring that token supply remains stable and protected from unauthorized alterations. It reflects the broader trend in the blockchain space toward enhancing trust and transparency in token management.

Community Involvement

The decision to regulate the token supply permanently seeks to foster greater community involvement in governance and supply decisions through platforms like Snapshot. This level of engagement is critical for maintaining the integrity and trust of the Across protocol.

Conclusion

As the blockchain community continues to evolve, proposals like these highlight the ongoing dialogues around token design and governance. The focus on fixing the ACX token supply at 1 billion not only addresses current concerns but also establishes a framework for future stability and trust within the Across ecosystem.