Reaching the first $100 million dollars in deposits, Exactly Protocol achieves one of the major milestones of the protocol aiming to bring the benefits of DeFi to the end user, offering fixed and variable interest rates.

To bring Exactly Protocol’s users an efficient way to use their EXA tokens, the community is introducing the new self-custodial Proto-Staking Program, powered by Velodrome, to easily stake their EXA while earning VELO.

Last Tuesday, we introduced our next step in the Exactly Protocol’s path to decentralization, which involves the launch of the EXA token in OP Mainnet, which will function as the native governance token in the Exactly DAO.

As our Rewards Controller contract is multi-asset capable, it unlocks the leverage to provide Exactly Protocol users with rewards in numerous assets simultaneously. We are introducing a new EXA tokens reward program while extending the current OP rewards program for the next four weeks.

At Exactly, we are constantly working to deliver a better experience for users of all levels in DeFi. For that reason, we are pleased to share our latest community-driven innovation, the Leverage and Deleverage features, allowing our users to increase or decrease positions in a single transaction.

Last week, we announced our path to decentralization, delving deeper into how we have built Exactly Protocol from scratch allowing users to lend and borrow at fixed and variable interest rates in a decentralized and autonomous way. Today, we are proud to announce our next step in this journey, which involves the launch of the EXA token in OP Mainnet, which will function as the native governance token in the Exactly DAO.

At Exactly Protocol, we aim to make DeFi accessible to everyone by offering a user-friendly, secure, open-source, and non-custodial credit market for users of all backgrounds, enabling them to deposit and borrow at fixed and variable interest rates without intermediaries.

On November 11, 2022, FTX, the third-largest cryptocurrency exchange, filed for Chapter 11 bankruptcy protection in the United States. On the same day, we launched Exactly Protocol on Ethereum Mainnet to bring the benefits of decentralized finance to the end consumer. Since then, our vision has been to build a lending protocol that tackles real-world challenges while moving toward a fully decentralized governance model that encourages our community to operate and govern the project.

We are extending the scope of our OP rewards program to the wstETH market. In addition, we have activated the Treasury Fee, introduced some improvements in the fixed interest rate curves, and increased the WETH and wstETH Risk-Adjust factors.