Across plans to limit the token supply to 1 billion in response to the concerns raised by the founder of LayerZero

ChainCatcher news, according to The Block, Across Protocol co-founder Hart Lambur proposed to permanently set a supply cap of 1 billion ACX tokens. If this proposal is approved by the community, Across Governance will relinquish all ownership control over the ACX tokens and set it to the 0x0 address to prevent any future minting or burning operations on the token supply.

This move stems from previous criticisms by LayerZero Labs CEO Bryan Pellegrino regarding the Across token contract. Pellegrino pointed out serious issues with the contract, stating that its errors exposed an internal private burn function in the OpenZeppelin ERC-20 token implementation, allowing the contract owner to freely empty any wallet's tokens. He also noted that the Across Protocol and UMA protocol contracts have unlimited minting privileges.

In response, the community believes this is more of a transparency issue rather than a security issue. Although Lambur initially denied these allegations, he later acknowledged that there were flaws in the design choices and stated that the new proposal reflects the "spirit of decentralization and transparency." The proposal is currently undergoing a temperature check vote, with a support rate as high as 99.5%.