Exactly Protocol

Exactly Protocol is decentralized finance platform offering autonomous interest rate markets and enabling both variable and fixed rate exchanges of crypto assets. Its EXA token allows holders to vote on protocol changes and manage the treasury, playing a key role in governance and decision-making. Governance involves a structured voting system with specific token requirements to ensure fair participation. The project, having raised $3 million in a seed round, is backed by various investors, highlighting its strong funding and investment support.

Exactly is a decentralized, non-custodial, and open-source protocol that provides an autonomous interest rate market to lenders and borrowers while setting interest rates based on credit supply and demand, enabling users to frictionlessly exchange the time value of their crypto assets at both variables and fixed interest rates for the first time in DeFi. Aside from taking loans and making deposits at variable interest rates from a Variable Rate Pool, this protocol enables users to do so at fixed rates through interaction with several Fixed Rate Pools, each representing a specific maturity date. Interest rates are determined based on the credit utilization rate of each Fixed Rate Pool.

The governance of the Exactly Protocol is managed through its EXA token, serving as the voting metric for proposals known as EXAIPs. To ensure a focused and spam-free environment, submitting a proposal requires holding at least 100 EXA tokens. The governance process incorporates a one-day voting delay and a five-day voting period, with a proposal needing 100,000 EXA tokens for approval. Voting is conducted on Snapshot, where sentiment is gauged off-chain and weighted by the number of EXA tokens held. To maintain integrity, eligibility to vote on a proposal requires holding EXA tokens at the vote's commencement, preventing influence by sudden token purchases.

The EXA token grants holders the right to vote on system changes and upgrades. Holders of the EXA token will wield power over the Protocol’s treasury and smart contract upgrades. As the Protocol develops, EXA token holders will play a crucial role in decision-making, including setting collateral requirements, introducing new collateral types, adjusting borrowing and lending terms, and managing token incentives. These decisions demand thoughtful evaluation of various factors, and the Exactly team will provide research, analysis, and open-source simulations to assist the community in making informed decisions.

Exactly Protocol raised a $3 million seed round. Exactly was funded by long-term capital partners with a track record of alignment with Web2 and Web3 ecosystems. Some of our current investors are Kazsek, BairesDAO, NXTP, Newtopia, Kain Warwick (Co-Founder of Synthetix), Esteban Ordano (Co-Founder of Decentraland), Matias Woloski (Co-Founder of Auth0), Daedalus among others.