🔎Audits

Code Audits

Exactly Protocol was audited by the following companies:

Auditor	Date	Report
ABDK	Oct 2022	ABDK 1st audit
ABDK	May 2023	ABDK 2nd audit
ABDK	Sep 2023	ABDK PeripheralContracts 1st audit
ABDK	Oct 2023	ABDK EscrowedEXA 1st audit
ABDK	Feb 2024	ABDK Interest Rate Model v2 1st audit
ABDK	Mar 2024	ABDK Interest Rate Model v2 2nd audit
ABDK	Apr 2024	ABDK Installments Router and New Market Roles 1st audit
Chainsafe	May 2022	Chainsafe 1st audit
Chainsafe	Oct 2022	Chainsafe 2nd audit
Chainsafe	Mar 2024	Chainsafe Interest Rate Model v2 1st audit
Chainsafe	Aug 2024	Chainsafe Staking Program 1st audit
Coinspect	Nov 2021	Coinspect 1st audit
Coinspect	May 2022	Coinspect 2nd audit
Coinspect	Oct 2022	Coinspect 3rd audit
Coinspect	Oct 2022	Coinspect 4th audit
Coinspect	Mar 2023	Coinspect 5th audit
Coinspect	Jan 2023	Coinspect RewardsController 1st audit
Coinspect	Feb 2023	Coinspect RewardsController 2nd audit
Coinspect	Mar 2023	Coinspect RewardsController 3rd audit
Cryptecon	Sep 2022	Cryptecon Economics of the Exactly Protocol
Hashlock	March 2024	Hashlock Interest Rate Model v2 1st audit
Hashlock	Apr 2024	Hashlock Installments Router and New Market Roles 1st audit
OpenZeppelin	Oct 2023	EscrowedEXA 1st audit
Quantstamp	July 2024	Exa App WebAuthn Plugin 1st audit
Sherlock	Aug 2024	Sherlock Staking Program 1st audit

Other

• Code Coverage on Codecov
• Audit Coverage on Zellic
• Defi Safety Process Quality Report

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.