Introduction
Exactly is a new decentralized, non-custodial and open-source protocol that will provide 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 variable 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 as well through the interaction with several Fixed Rate Pools, each one representing a specific maturity date. Interest rates are determined based on the credit utilization rate of each Fixed Rate Pool.
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