Across Protocol, a leading cross-chain interoperability solution, has successfully concluded a $41 million token sale. This strategic funding round was led by Paradigm, with participation from prominent investors including Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and angel investor Sina Habibian.
The capital injection is earmarked for accelerating the protocol's mission to unify Ethereum's fragmented Layer 2 ecosystem and to foster the widespread adoption of the new ERC-7683 cross-chain standard.
A Landmark Funding Round for Cross-Chain Innovation
The $41 million raise solidifies Across Protocol's position as a key player in the blockchain interoperability space. According to Hart Lambur, co-founder of Risk Labs (the foundation behind Across and UMA), the funding was secured across two separate rounds: one in the second quarter and another in the fourth quarter of 2024.
While the exact sale price and valuation remain undisclosed, this latest investment brings the project's total funding to $51 million. This follows an initial $10 million token round in November 2022, which valued the project at approximately $200 million.
Key Investors Backing the Vision
The caliber of investors participating in this token sale underscores the significant confidence in Across Protocol's technology and roadmap. Paradigm, a research-driven crypto investment firm, led the round. They were joined by:
- Bain Capital Crypto: An investment firm focused on supporting foundational open internet infrastructure.
- Coinbase Ventures: The venture arm of the leading cryptocurrency exchange, investing in early-stage crypto and blockchain innovators.
- Multicoin Capital: A thesis-driven investment firm that backs disruptive crypto companies.
- Sina Habibian: A notable angel investor within the web3 space.
Understanding the Across Protocol
At its core, Across Protocol is an intents-based interoperability solution. It allows users to initiate complex cross-chain transactions through a single, simple request. This can include swapping tokens or depositing assets across different blockchains.
Instead of requiring users to navigate multiple steps, the protocol handles the entire execution behind the scenes. This involves managing asset transfers and smart contract interactions across chains, providing a seamless experience for the end-user.
The Mission to Unify Ethereum
Ethereum's scaling solution, the Layer 2 ecosystem, has led to significant fragmentation. Users often find themselves juggling assets and applications across numerous separate chains. Across Protocol aims to solve this by making Ethereum feel like a single, unified network.
The project prioritizes user experience, focusing on speed and cost-effectiveness. Its technology enables most Layer 2 to Layer 2 transfers to be completed in under five seconds, a significant improvement over many existing bridges. 👉 Explore more strategies for seamless cross-chain transactions
Pioneering the ERC-7683 Standard
A major focus of Across Protocol's development efforts is the ERC-7683 standard. Developed in collaboration with Uniswap Labs in 2024, this proposed standard is designed to revolutionize cross-chain transactions on Ethereum.
ERC-7683 allows Web3 applications to bundle multi-step, cross-chain actions into a single user request. This request is then executed by a shared network of relayers, simplifying the process for both developers and users. The standard has already seen substantial industry buy-in, with adoption by over 50 major protocols including Arbitrum, Base, Polygon, and Optimism.
Recent Integrations and Product Development
The new funding will directly support further product development centered on intents-based interoperability and expanding ERC-7683 integration. A key recent development was the integration with Unichain on February 11, 2025, which enabled fast and secure cross-chain transfers.
This integration allows users to move to Unichain in a matter of seconds for just a few cents, either directly through Across or via any decentralized application that has integrated the protocol.
Investor Vesting and Tokenomics
Hart Lambur also provided clarity on the vesting schedule for the investors from this token sale. According to the official plan:
- Unlocks for the seed raise will begin in June 2025.
- Various one-year cliff unlocks will continue through November 2025.
- The Risk Labs team's token vesting will occur on a monthly basis until December 2027.
The ACX token (Across Protocol's native token) had its Token Generation Event (TGE) on November 28, 2022.
Frequently Asked Questions
What is the main goal of Across Protocol?
Across Protocol aims to solve Ethereum's fragmentation by providing a fast, secure, and low-cost interoperability solution. Its ultimate goal is to make the entire network of Ethereum Layer 2s feel like a single, unified chain for the end-user, abstracting away the underlying complexity.
How does ERC-7683 improve cross-chain transactions?
ERC-7683 creates a universal standard for cross-chain intents. It allows users to approve a single, bundled transaction that outlines their desired outcome across multiple chains. A decentralized relayer network then competes to fulfill this intent efficiently, greatly simplifying the user experience and reducing the potential for errors.
Who were the major investors in the $41M ACX token sale?
The funding round was led by Paradigm, a premier crypto investment firm. Other significant participants included Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and angel investor Sina Habibian, reflecting strong institutional confidence in the project.
How fast are transactions on Across Protocol?
Across Protocol is renowned for its speed. The majority of transactions, particularly between Layer 2 networks, are completed in five seconds or less. This is significantly faster than many conventional bridge solutions, which can take several minutes or even hours for full confirmation.
What will the new funding be used for?
The $41 million in raised capital is primarily allocated to accelerating product development. This includes further enhancing the protocol's intents-based architecture and driving the adoption and implementation of the new ERC-7683 standard across the wider Ethereum ecosystem. 👉 View real-time tools for tracking crypto developments
When did the ACX token launch?
The ACX token was first introduced on November 28, 2022, during its Token Generation Event (TGE). The recent $41 million raise was a subsequent token sale to strategic investors to fund further growth and development.