I dislike this Across proposal so much: converting $ACX tokens to equity.

Huge failure of crypto, especially if it becomes a new trend.

It feels like a betrayal of the crypto spirit: investment access for everyone, anywhere, globally.

US investors under 5M ACX need accredited investor status to participate in the equity exchange.

ACX stops being freely tradable on DEXs. If they ever IPO, that liquidity goes to TradFi instead.

It should be the reverse: tokenize equity. That would be progress for the industry.

Yet the reasons for conversion are telling:

- They believe the token is undervalued

- They can't do effective BD as a DAO without a legal entity

The founder said: "having a token generally hurts more than it helps."

I hope other DAOs won't follow them. Especially Polymarket if they skip token altogether.

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