# ๐Audits

## Code Audits

Exactly Protocol was audited by the following companies:

Auditor | Date | Report |
---|---|---|

ABDK | Oct 2022 | |

ABDK | May 2023 | |

ABDK | Sep 2023 | |

ABDK | Oct 2023 | |

ABDK | Feb 2024 | |

ABDK | Mar 2024 | |

ABDK | Apr 2024 | |

Chainsafe | May 2022 | |

Chainsafe | Oct 2022 | |

Chainsafe | Mar 2024 | |

Coinspect | Nov 2021 | |

Coinspect | May 2022 | |

Coinspect | Oct 2022 | |

Coinspect | Oct 2022 | |

Coinspect | Mar 2023 | |

Coinspect | Jan 2023 | |

Coinspect | Feb 2023 | |

Coinspect | Mar 2023 | |

Cryptecon | Sep 2022 | |

Hashlock | March 2024 | |

Hashlock | Apr 2024 | |

OpenZeppelin | Oct 2023 | |

Quantstamp | July 2024 |

## Other

## Mathematical Audit

."On September 8th, 2022 the Center for Cryptoeconomics released its audit report on Exactly Protocol titled "Economics of the Exactly Protocol", concluding that Exactly's model is "economically plausible, mathematically correct, and theoretically feasible".

### Highlights from the auditors

Exactly is a unique lending protocol design focusing on fixed instead of variable terms. At the cost of less flexibility, it can offer fixed rates and conceptually a lower spread than comparable projects. Thus, if lenders and borrowers demand fixed terms, Exactly's unique design is likely to become successful.

From the audit of the technical paper, we find that the mathematical specification of the model correctly reflects the conceptual idea of Exactly's decentralized credit market protocol.

Numerical calculations revealed that results from the model presented in the technical paper are plausible. Based on an initial calibration we find that the protocol is in principle able to produce competitive interest rates and spreads.

You can read the complete report here.

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