Exactly Protocol will launch Exactly DAO and governance token EXA.

Odaily News: DeFi lending protocol Exactly Protocol has released an article introducing 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. The distribution plan is as follows: 4.5 million EXA will be allocated to the community, 4.5 million EXA will be allocated to the team, advisors, and investors, and 1 million EXA will be allocated to the DAO treasury.



The community token distribution will be divided into two parts. 1% of the total token supply (100,000 EXA) will be used for airdrops to early users of the project, specifically to the community members who have been using the protocol on the OP mainnet since the launch of the OP reward program in April last year. The EXA rewards will start on July 24, 2023, and will be distributed to users who have been utilizing the current reward control contract and other incentive mechanisms, amounting to 5% of the total supply (500,000 EXA). Additionally, a new round of OP rewards will also commence.



Exactly DAO governance will consist of off-chain voting and on-chain voting stages. After Exactly DAO is launched, the first ExaIP released by the team will be their proposal for a new interest rate model.



Earlier reports stated that in January of this year, Exactly Protocol announced the completion of a $2 million financing round led by Kain Warwick, the founder of Synthetix, and Esteban Ordano, co-founder of Daedalus and Decentraland. Other participants in the funding round include Bodhi Ventures, Newtopia, NXTP Ventures, Kaszek Ventures, and others.