TechFlow News — According to an official announcement, Ethereum cross-chain bridge Across Protocol has raised $10 million at a $200 million valuation. The funding round was backed by Hack VC, Placeholder, and Blockchain Capital. The proceeds will be used to advance the development of the bridge, further improve capital efficiency, and expand its permissionless relay network.
The fundraising was conducted via a Success Token structure, under which each Success Token will mature on June 30, 2025, redeemable for one ACX (Across Protocol’s native token), plus the value of a call option on ACX priced at $0.50. As long-term strategic partners, Hack VC, Placeholder, and Blockchain Capital will leverage their expertise and networks to provide guidance and resources to Across Protocol.
Previously reported, Across Protocol is set to officially launch its ACX token on November 28. [Original link]
