Permanently Fix ACX Supply at 1B Tokens

Author(s): Hart Lambur Status: Proposed

Summary:

This proposal seeks community approval to fix the total supply of ACX tokens at 1 billion.

Background:

Bryan Pellegrino recently critiqued the Across token design, and inaccurately labeled the ACX ERC20 implementation as vulnerable to unauthorized token minting. The Across team disagrees with his accusations. However, in the spirit of decentralization and transparency, we are proposing a change to permanently fix the ACX token supply at 1 billion tokens.

Proposal:

We propose to amend the ACX token model by implementing a fixed supply cap of 1 billion ACX tokens. This change will require zero modifications to ACX smart contracts; this proposal will renounce Across Governance’s ownership over the ACX token, which prevents any future changes to the token supply via minting or burning.

Implementation Steps:

1. Upon approval and execution of this proposal, the ACX token contract’s owner will be set to 0x0, preventing any future supply changes.

Conclusion:

This proposal to fix the ACX supply at 1 billion tokens by renouncing contract ownership is designed to secure the economic foundation of the Across ecosystem. We believe this change will benefit all stakeholders by providing stability and promoting growth.

Voting:

Yes Vote: A "yes" vote approves fixing the ACX token supply at 1 billion and renouncing token contract ownership. This action permanently sets the token contract's ownership to 0x0, preventing any future changes to the supply.

No Vote: A 'no' vote is not in support of “Permanently Fix ACX Supply at 1B Tokens”, if a 'no' vote passes, no action will be taken.