Across Protocol

Across Protocol is a cross-chain bridge that lets users move tokens between Ethereum and compatible networks such as Arbitrum, Optimism, Polygon, and Boba Network. The problem it addresses is the friction and cost of transferring assets across separate blockchains, which are otherwise isolated from one another. ACX is the governance token associated with the protocol.

Across uses UMA's optimistic oracle to verify and settle cross-chain transfers, meaning transactions are assumed valid and only challenged if a dispute is raised, which keeps costs low. A single shared liquidity pool services all supported routes, and a network of relayers competes to fill user transfer requests quickly, with those relayers later reimbursed from the pool. ACX holders participate in governance decisions about the protocol, and the no-slippage fee model charges users a fixed fee rather than one that varies with transfer size.

Fees are paid by users who transfer assets across chains, and those fees flow to liquidity providers and relayers who make the transfers possible. Over the trailing 24 hours the protocol recorded fees of 3,351 USD, over the trailing 7 days 15,905 USD, over the trailing 30 days 62,724 USD, and over the trailing 12 months 209,487 USD. Fees annualized from the trailing 30-day figure stand at 763,142 USD, and fee growth over the last 30 days was 368.67 percent, reflecting a notable recent increase in activity from a prior base. The market capitalization divided by those annualized fees gives a ratio of 36.31, and the fully diluted valuation divided by the same figure gives 51.53.