The creation of the Exohood token "EXO" is the first step on allowing the design of the entire protocol. EXO Token will serve three key functions in Exohood's protocol named (i) providing governance for the protocol, (ii) operating the validators on the platform, and (iii) add new chains by bonding EXO.
The first function of EXO is to entitle holders to complete governance control over the platform. Included in this governance function is determining the fees of the platform, the auction dynamics and schedule for the addition of chains, and exceptional events such as upgrades and fixes to the Exohood's protocol. These functions are not formally granted to EXO holders, but rather the underlying code of Exohood's protocol will enable EXO holders to participate in governance.
The second function of EXO will be to facilitate the consensus mechanism that underpins Exohood platform. In order for the platform to function and allow valid transactions to be carried out across the multichain, Exohood will rely on EXO holders to play active roles. Participants will put their EXO at risk (referred to as “staking” or “bonding”) to perform these functions, which acts as a disincentive for malicious participation in the network and the platform. EXO required to participate in the platform will vary according to the activity undertaken, the duration EXO is staked for, and the total number of EXO staked.
The third function of EXO will be the ability to add new chains by tying up EXO (referred to as “bonding”). The EXO will be locked during their bonding period and will be released back to the account that bonded them after the duration of the bond has elapsed and the new chain is deployed.
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Governance: The Exohood token enables community ownership and active stewardship of the Protocol. EXO holders govern the Protocol through an on-chain governance process.
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Incentives: EXO tokens allows users to earn rewards by providing liquidity.
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Multichain: EXO token is enable to make transactions between several networks, which can be Layer 1s, Layer 2s, or even off-chain services.
The native asset of the Exohood Protocol is EXO, and there is no cap on its overall supply. But its total outstanding supply can be calibrated in three key ways:
- Staking by validators to secure the liquidity ecosystem.
- Staking by nominators who contribute their EXO to validators.
- Bonding by adding new chains on the platform.
Note: Exonomics is a subject to change without notice at any time while the multichain project is in beta.
0xbd8005612124DC30601E22D8B5d188A89767c640
0x7D10B6157C7C577CAa62D319dC215209Cf2dB8C3
0xbd8005612124DC30601E22D8B5d188A89767c640
Note: EXO Token on BNB Chain isn't a multichain contract, it's the Exohood team working in a wrapped solution to include in multichain platform.