The DeFi lending protocol Exactly Protocol will launch Exactly DAO and the governance token EXA

ChainCatcher news, DeFi lending protocol Exactly Protocol has published an introduction to the token EXA and Exactly DAO. The EXA airdrop rewards will be distributed on July 24th at 22:00 Beijing time.

It is reported that the EXA token is the native governance token of Exactly DAO, with a total supply of 10 million tokens. The distribution plan is as follows: 4.5 million EXA allocated to the community, 4.5 million EXA allocated to the team, advisors, and investors, and 1 million EXA allocated to the DAO treasury. The community token distribution is divided into two parts, with 1% of the total token supply (100,000 EXA) allocated for airdrops to early users of the project, distributed to community members who have used the protocol on the OP mainnet since the launch of the OP reward program in April last year. EXA rewards will begin on July 24, 2023, distributing 5% of the total supply (500,000 EXA) to users through the current reward control contract and other incentive mechanisms.

In addition, a new round of OP rewards will also begin. ExactlyDAO governance will be divided into off-chain voting and on-chain voting phases. The first ExaIP released by the team after the launch of ExactlyDAO will be a new interest rate model proposal that the team has been researching.