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Across Protocol

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Discover Across Protocol's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Across Protocol?

Across Protocol (ACX) is a cross-chain token bridge that enables fast and secure interoperability between different blockchain networks. It utilizes UMA's optimistic oracle for security and focuses on capital efficiency through a single liquidity pool, competitive relayers, and a no-slippage fee model. The protocol is designed to provide seamless and cost-effective cross-chain transactions, ensuring a safe and efficient experience for users.

How is Across Protocol used?

Across Protocol (ACX) is a cross-chain token bridge that enables secure and efficient bridging of assets between Ethereum and other blockchain networks. The protocol is designed to facilitate seamless and low-cost transfers of tokens between different chains, providing users with a single point of access for cross-chain transactions.

Key Features
  • Optimistic Oracle: Across Protocol is secured by UMA's optimistic oracle, which verifies transfers optimistically, allowing for quick processing while maintaining security.
  • Capital Efficiency: The protocol uses a single liquidity pool and a competitive relayer landscape to optimize capital efficiency.
  • No-Slippage Fee Model: Across employs a no-slippage fee model to minimize costs for users.
Governance and Tokenomics
  • ACX Token: The ACX token is an ERC-20 token that governs the decisions affecting the function of Across Protocol and manages the DAO's treasury. It allows for decentralized ownership and control of the protocol.
  • Governance: The ACX token enables holders to participate in the governance process, including ideation, discussion, proposal, feedback, voting, and execution phases.
  • Token Distribution: The total supply of ACX tokens is 1 billion, allocated among the protocol's treasury, team, private investors, early adopters, and liquidity providers.
Use Cases
  • Cross-Chain Transfers: Across Protocol allows users to transfer tokens between different blockchain networks efficiently and securely.
  • Liquidity Provision: The protocol incentivizes liquidity providers with ACX emissions and offers additional rewards through its Ethereum-based liquidity pools.
  • Referral Program: Across has a referral program that rewards users for participating in the protocol.
Trading and Availability
  • Exchanges: ACX tokens can be traded on decentralized exchanges like Uniswap and Velodrome, as well as on centralized exchanges like Gate.io.
  • Market Performance: The token's price and trading volume can be volatile due to low market depth and concentrated trading on DeFi platforms.

Across Protocol offers a unique solution for cross-chain bridging, focusing on capital efficiency, security, and user experience. Its governance model empowers the community to make decisions, and the ACX token plays a central role in managing the protocol and incentivizing participation.

How do I store Across Protocol?

To store Across Protocol (ACX) tokens, you can use a variety of methods:

  1. MEXC Account Wallet: After purchasing ACX tokens on MEXC, you can hold them in your MEXC account wallet. This allows you to easily trade or stake your tokens for passive income.

  2. Metamask Wallet: You can transfer your ACX tokens to a decentralized wallet like Metamask, which supports millions of assets and blockchains. This provides more control over your tokens and allows you to trade on decentralized exchanges.

  3. Atomic Wallet: Atomic Wallet is a multi-asset wallet that supports over 1000 coins and tokens, including ACX. It offers a secure and private way to manage your tokens, with no registration or KYC required. The wallet is available for both desktop and mobile devices.

These options provide flexibility and security for storing and managing your Across Protocol (ACX) tokens.

How to buy Across Protocol?

To buy Across Protocol (ACX) tokens, follow these steps:

  1. Create an Account: Open an account on a cryptocurrency exchange that supports ACX trading. Popular exchanges include Bitrue, MEXC, Gate.io, MXC, CoinEX, and Balancer V2. Ensure you complete any necessary identity verification steps.

  2. Choose a Funding Method: Select a payment method to fund your account. Common options include:

    • Credit/Debit Card: Most exchanges support Visa and Mastercard transactions.
    • Bank Deposit: Transfer fiat currency from your bank account to the exchange using SWIFT.
    • P2P Trading: Buy ACX directly from other users on some exchanges.
    • Third-Party Payment: Utilize services like Simplex, Banxa, or Mercuryo.
  3. Buy ACX: Navigate to the exchange's Buy & Sell section, select ACX as the cryptocurrency you want to buy, and choose your preferred trading pair (e.g., ACX/USDT). Set the amount you want to purchase and execute the trade.

  1. Transfer to Wallet: Once purchased, you can hold ACX in your exchange account or transfer it to your personal cryptocurrency wallet for additional security and flexibility.

  2. Monitor and Trade: Keep track of ACX's price performance and consider trading it for other cryptocurrencies or holding it for passive income.

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History of Across Protocol

Across Protocol (ACX) is a decentralized cross-chain bridge designed to facilitate secure and efficient transfers of tokens between different blockchain networks. The project was founded by a group of seasoned blockchain developers and enthusiasts who recognized the need for a secure and effective cross-chain bridge in the developing DeFi landscape.

The team collaborated with UMA and Snapshot to develop an optimistic governance tool, leveraging UMA’s optimistic oracle technology to ensure the security and integrity of the platform. The ACX token was introduced to govern the decisions affecting the function of Across Protocol and manage the DAO’s treasury, enabling decentralized ownership and control of the platform.

The project has gained significant traction, securing strategic partnerships with key players in the DeFi industry and raising funds to accelerate its growth. The ACX token was airdropped based on criteria measuring early support, including strategic community support and liquidity provision. Additionally, the Risk Labs foundation worked alongside the Across DAO to iterate on the bridge’s design and drive adoption.

Across Protocol offers a reward-locking program and referral rewards for users, providing additional ways to earn ACX tokens and contribute to the protocol’s growth. The referral program’s duration depends on the ACX price and the volume of referral transactions, while the reward locking program incentivizes liquidity providers with ACX emissions.

The governance model empowers the community to make decisions directly affecting the platform’s future. By using the ACX token, holders can participate in the ideation, discussion, proposal, feedback, voting, and execution phases of the governance process, ensuring that the protocol remains in line with the interests of its users.

Across Protocol has established strategic partnerships with key players in the DeFi industry, further expanding its reach and functionality. As the platform continues to grow, additional partnerships and integrations will likely be established, further increasing the utility and adoption of Across Protocol.

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How Across Protocol works

Across Protocol (ACX) is a decentralized platform designed to facilitate seamless and low-cost transfers of tokens between different blockchain networks. It is optimized for capital efficiency with a single liquidity pool, a competitive relayer landscape, and a no-slippage fee model. Here's how it works:

Key Components
  1. Canonical Bridges: Across relies on canonical bridges, which are considered "official" and have the same level of security as the project that deploys them. These bridges are slow to ensure maximum security, waiting until a transaction is considered irreversible before making a transfer.

  2. Relayers and Risk Management: To overcome the time constraint of canonical bridges, Across transfers value directly to the user from the destination chain. The relayer is then repaid later through the canonical bridge. This means the relayer takes the risk that the user's initial transaction may be reversible.

  3. UMA Integration: Across uses UMA (Universal Market Access) to reimburse relayers. This integration ensures that relayers are incentivized to participate in the system. However, this also means that if more than 51% of UMA tokens are controlled, it could potentially be used to attack Across.

  1. Intents: Across is built around the concept of "intents," which are a new type of transaction that replaces explicit execution steps with user outcomes. This allows relayers to compete to provide the optimal execution path for the user, making the process more efficient and user-centric.
Functionality
  1. Cross-Chain Transactions: Across enables users to transfer tokens between different blockchain networks, including Ethereum, Layer 2s, and Roll-Ups, in a secure and efficient manner.

  2. Liquidity Pool: The protocol operates on a single liquidity pool concept, which helps reduce costs and increase yields for liquidity providers.

  3. Governance: The ACX token is the governance token for the Across protocol. It allows holders to participate in decision-making processes and manage the DAO's treasury.

  1. Incentives: ACX tokens are used to incentivize liquidity providers and those participating in the Across Referral Link program.
Security and Efficiency
  1. Optimistic Oracle: Across leverages UMA's optimistic oracle technology to ensure the security and integrity of the platform. This technology allows for accurate transactions and dispute resolution.

  2. Capital Efficiency: The protocol is designed to optimize capital efficiency through its single liquidity pool, competitive relayer landscape, and no-slippage fee model.

  3. Modular Interoperability: The system is built with a modular architecture, consisting of a request for quote mechanism, a network of competitive relayers, and a settlement layer. This modular design enables seamless and efficient cross-chain transactions.

Conclusion

Across Protocol is a decentralized platform that enables fast, secure, and low-cost transfers of tokens between different blockchain networks. It achieves this through its innovative use of intents, canonical bridges, and UMA integration, making it an attractive solution for cross-chain transactions in the DeFi landscape.

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Across Protocol's strengths

The Across Protocol (ACX) token has several strengths:

  • Governance: The ACX token is an ERC-20 token that allows for decentralized ownership and control of the protocol, ensuring decision-making power resides in the hands of token holders.
  • Capital Efficiency: The protocol optimizes capital deployment and minimizes idle funds, reducing costs and enhancing overall liquidity, making it an attractive option for users seeking efficient and cost-effective cross-chain transactions.
  • Innovative Fee Model: Across employs an interest rate fee model based on the utilization of assets in its liquidity pool, leading to more consistent pricing.
  • Liquidity and Reward Mechanisms: Liquidity providers receive LP tokens, earning fees from transfers. Users can earn rewards through referral programs and a reward-locking program encouraging long-term participation.
  • Security: The safety of Across is underpinned by its robust, optimistic design, which ensures that even in scenarios with high participation rates, the system can quickly and effectively identify and rectify false claims with the input of just one honest participant.
  • Speed: Besides its current speed of under 2 minutes per bridging transaction, Across is actively developing capabilities for next-block bridging, aiming to enhance cross-chain transactions’ speed and efficiency.
  • Growth: The Across ecosystem is not just growing in size but also in its scope of opportunities, allowing individuals to actively shape the future of decentralized finance (DeFi) and cross-chain interoperability.

Across Protocol's risks

Across Protocol (ACX) faces several financial risks that investors should be aware of:

  1. Risk of Smashing the Secondary Market: The protocol has a large number of community airdrop chips, which could lead to a significant influx of tokens into the market, potentially causing a price drop.

  2. Tokenomics and Airdrop Allocation: The allocation of tokens for airdrops, strategic partnerships, and fund-raising could impact the token's value and liquidity. For instance, the large allocation for the DAO treasury reserve (525 million tokens) might influence market dynamics.

  3. Funding and Investor Risks: The protocol has raised $10 million in funding, with a significant portion of tokens locked until June 30, 2025. This could lead to market volatility when these tokens are unlocked and potentially sold.

  1. Risk of 51% Attack on UMA: Since Across relies on UMA for reimbursement, a 51% attack on UMA could theoretically compromise the security of Across. However, the relatively low value locked in its liquidity pools ($150 million) makes such an attack less profitable.

  2. Market Manipulation: InvestorsObserver has given Across Protocol a medium Risk/Reward Score, indicating that the token can be manipulated to some extent. This means that large investors or market actors could influence the token's price.

  3. Limited Blockchain Compatibility: Across currently only supports blockchains compatible with the Ethereum ecosystem, limiting its scope and potentially affecting its growth and adoption.

These financial risks highlight the importance of thorough research and risk assessment before investing in Across Protocol (ACX).

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Across Protocol's ecosystem

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Across Protocol’s team

  • Hart Lambur: Co-Founder of Across Protocol, involved in discussing the project's fundamentals, business model, and future plans.

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Across Protocol NEWS REPORT

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