Exactly

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Exactly is a decentralized finance (DeFi) platform focusing on secure and efficient cryptocurrency borrowing and lending. Utilizing smart contracts, it offers a trustless environment where users can lend or borrow digital assets without intermediaries. The protocol launched on Ethereum Mainnet in Nov 2022 and expanded to Optimism in Mar 2023. Unlike other fixed-rate protocols, Exactly determines fixed rates based on pool utilization rates. Developed by experts in software, economics, and finance, and backed by notable investors like Kain Warwick and Esteban Ordano, Exactly aims to extend DeFi benefits via partnerships with Web3 and Web2 companies. The platform uses exaVouchers for user deposits, increasing liquidity and reflecting variable earnings. The governance token EXA allows holders to vote on protocol changes. Exactly strives to create a liquid, transparent financial ecosystem that bridges traditional finance with DeFi.

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FAQ

What is the purpose of the Exactly Protocol in the DeFi space?

Exactly Protocol is a decentralized finance (DeFi) platform that facilitates the borrowing and lending of cryptocurrencies. Its primary purpose is to streamline these financial activities by leveraging blockchain technology. By enabling a trustless environment through smart contracts, Exactly ensures transparent, secure, and efficient transactions without the need for intermediaries, thus promoting a more inclusive financial ecosystem.

How does Exactly Protocol differ from other fixed rate lending platforms?

Exactly Protocol distinguishes itself by determining fixed interest rates based on the utilization rate of liquidity pools with varying maturity dates, unlike other platforms that rely on maturity token prices. This approach eliminates the need for a custom automated market maker (AMM) and relies solely on a variable rate pool to consistently provide liquidity, enhancing the efficiency and accessibility of borrowing and lending.

What benefits does Exactly Protocol offer to its users?

Users of Exactly Protocol can benefit from a transparent and decentralized ecosystem that allows for easy crypto asset deposits and borrowing. The platform provides flexible financial solutions through variable and fixed interest rates, enabling users to earn interest on their digital assets or borrow against them. Its smart contract-based system ensures secure transactions, and the governance by EXA token holders ensures community-driven innovations.

How does the Exactly Protocol utilize blockchain technology?

Exactly Protocol harnesses blockchain technology to automate and enforce borrowing and lending agreements through smart contracts. This use of distributed ledger technology ensures transparency, security, and efficiency in all transactions. By removing intermediaries, the protocol empowers users to engage in peer-to-peer financial activities directly, promoting a more inclusive financial environment.

What is the role of EXA tokens within the Exactly Protocol?

EXA tokens serve as the governance token of Exactly Protocol, providing holders with the ability to vote on protocol proposals. This includes decisions related to protocol changes, upgrades, treasury management, and risk assessment. EXA holders influence critical aspects like smart contract adjustments, showcasing the protocol’s commitment to community participation and decentralized governance.

What are exaVouchers, and how do they work?

ExaVouchers, based on the ERC-4626 standard, are vouchers representing a user's deposited assets in Exactly Protocol. By supplying assets to the Variable Rate Pool, users increase liquidity for both variable and fixed rate pools. ExaVouchers accrue variable earnings over time, reflecting increased value when withdrawn, allowing users to benefit from enhanced liquidity and optimized asset management within the ecosystem.

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