# Introduction **TL;DR** **Exactly protocol takes a new approach to interest rate discovery in DeFi. Rather than relying on the value of multiple maturity tokens, we look at the utilization rate of several maturity pools, enabling us to offer both variable and fixed rates within the same protocol.** 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, Exactly 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. {% embed url="" %} Exactly Presentation {% endembed %} ## Exactly Protocol Interest Rate Model v2 {% embed url="" %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.exact.ly/getting-started/introduction.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.