At Exactly, we are committed to maintaining transparency even though the protocol has not yet officially implemented a decentralized governance process. That is why we introduce this article to ensure openness and clarity for our community regarding adding two new fixed-rate pools in the protocol and the reasons behind this decision.
Since we launched Exactly Protocol in November 2022, we have always been very aware of the feedback from our community on Discord and Twitter. In addition, we have been paying attention to our users’ preferences when they use the protocol, taking this into account when implementing new features and changes.
Two New Fixed-Rate Pools to Extend Yields
After launching on Optimism last March and starting the OP rewards program a month ago, we have seen an increase in the utilization of the fixed-rate pools with longer maturity dates.
This means that our users would tend to use fixed-rate pools with longer maturity dates, which allows them to obtain sustained yields over time.
To help our users extend their yields, we have decided to add two new fixed-rate pools on Optimism. These new pools, the 5th and 6th in the protocol, will have maturity dates of +28 and +56 days longer than the current pool with the longest maturity date available.
As the fixed-rate pool with the latest maturity date available now is August 2, the 5th fixed-rate pool will be dated 28 days longer, with a maturity date of August 30. The 6th fixed-rate pool will be dated 56 days longer than the fixed-rate pool with the latest maturity date available now, with a maturity date of September 27.
To help our users extend their yields, we have decided to add two new fixed-rate pools on Optimism. These new pools, the 5th and 6th in the protocol, will have maturity dates of +28 and +56 days longer than the current pool with the longest maturity date available.
As the fixed-rate pool with the latest maturity date available now is August 2, the 5th fixed-rate pool will be dated 28 days longer, with a maturity date of August 30. The 6th fixed-rate pool will be dated 56 days longer than the fixed-rate pool with the latest maturity date available now, with a maturity date of September 27.
When a fixed-rate pool reaches its maturity date, a new pool will be automatically activated. The new pool will have a maturity date set 28 days after the most recently opened pool. This ensures that six fixed-rate pools are always active in the protocol on Optimism.
Plus, when a new fixed-rate pool is launched, it starts with zero utilization, resulting in a highly attractive borrow rate!
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