Users can participate in governance on a DeFi exchange platform by holding the platform's governance token. With this token, they can vote on proposals, such as changes to fees, protocol upgrades, or new features. Typically, the voting power is proportional to the number of tokens held, incentivizing active participation and alignment of interests. Additionally, some platforms offer staking mechanisms, where users can lock up tokens to earn rewards and increase their voting influence. Through transparent and decentralized governance processes, users collectively shape the direction and policies of the exchange platform.
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