Our First Step to Making Exactly Cross-Chain and Multi-Asset

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.

Since launching on Ethereum Mainnet in November 2022 and subsequently on OP Mainnet last March, our protocol has quickly gained popularity among the DeFi community by offering users a transparent and predictable lending experience.

After launching the protocol, our team has been focused on gathering feedback from the community on Discord and Twitter to improve the user experience, and we have recognized how important it is for them to be able to lend and borrow in Exactly Protocol from different networks. That’s why we are proud to announce our new partnership with Socket to integrate their interoperability stack, making it easy for our users to lend and borrow on OP Mainnet across multiple blockchains.

Using the Socket bridge aggregator, our users can bridge and swap assets from other networks to OP Mainnet directly into the Exactly Protocol’s interface. This integration is our first step towards becoming a chain-agnostic app. Over time, we will improve this feature to offer a better experience bridging and swapping assets across different networks to OP Mainnet in our web app.

Our Long-Term Vision

At Exactly, our goal is to democratize the credit market by bringing to the end user a simple, secure, and decentralized way to lend and borrow at fixed and variable interest rates. To do that, we are building Exactly Protocol from scratch following Optimism’s Superchain concept introduced after the Bedrock upgrade.

By concentrating the liquidity on OP Mainnet, our users can interact with Exactly Protocol in an efficient, fast, and cost-effective way while the protocol maintains the efficient liquidity management and the security benefits offered by the OP Stack.

In line with this new approach, we have also created another separate URL to allow users to continue lending and borrowing on Ethereum Mainnet. From now on, at https://app.exact.ly, our users can interact with Exactly on OP Mainnet; if you are looking to continue lending and borrowing on Ethereum Mainnet, you can do it at https://ethereum.exact.ly.

About Socket

Socket is an interoperability protocol that brings all the interoperability stack that decentralized protocols need to allow users to transfer assets across different blockchains easily, contributing to fixing the multichain UX problems.

Through the Socket stack, we can provide our users with a simple interface to use their services from the Exactly Protocol interface, delivering a seamless user experience for bridging assets across different blockchains to OP Mainnet.

You can learn more about Socket by reading their docs.

How To Bridge and Swap Assets to OP Mainnet

This integration allows users to bridge assets across different networks to OP Mainnet, choosing between various bridges. These bridges are third-party applications over which Exactly Protocol has no relationship.

To bridge and swap assets using the Socket integration, users will need to follow the next steps:

First step: Connect your wallet and select the “from” network. This is the network from where you will send the tokens to OP Mainnet.

Second step: Select the token and amount to send and the token you wish to receive on OP Mainnet. The modal will show you the amount of the token you will receive on OP Mainnet.

Third step: The final step is to review the quote and confirm the transaction.

Ready! You can now lend and borrow at fixed and variable interest rates on OP Mainnet using Exactly Protocol.

Are you interested in staying up-to-date on the latest developments at Exactly Protocol and learning how we’re disrupting the DeFi ecosystem? Follow us on Twitter and Mirror, and join our Discord and Telegram to stay in the loop.

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