Exactly.app

What is Exactly?

Exactly is a decentralized finance (DeFi) lending and borrowing application that operates on Optimism, an Ethereum Layer 2 network. The protocol focuses on interest rate markets, offering both fixed and variable rate options so crypto users can supply assets for yield or borrow against collateral with either predictable repayments or market-driven rates. Because Exactly is a non-custodial protocol, users connect a compatible Web3 wallet to interact directly with smart contracts; the protocol itself does not take custody of funds.

As a DeFi protocol, Exactly is not a bank and is not regulated like a traditional financial institution. There is no consumer deposit insurance, and there are no fiat money accounts. All positions, rates, and transactions are handled on-chain. Users should consider local regulations that may govern their ability to access DeFi applications and self-custody crypto assets. Front-end access may vary by region depending on compliance requirements, but the underlying smart contracts are publicly accessible on-chain.

Exactly targets crypto-native participants who want to earn on idle assets, obtain crypto-denominated liquidity, or manage interest rate exposure. It is accessible anywhere a user can connect to Optimism with a supported wallet, subject to any interface-level geo-restrictions. Supported assets, loan-to-value parameters, and rate options are visible within the app interface and can differ across markets. Because DeFi markets are dynamic, liquidity and pricing conditions can change quickly based on supply and demand.

Exactly Key Features & Services

Exactly’s value proposition centers on on-chain interest rate markets with a choice between fixed and variable borrowing and lending. Below are core features that define the protocol’s functionality and typical user workflows.

Fixed-rate lending and borrowing

A defining feature of Exactly is access to fixed-rate markets. Suppliers can lock in an annualized yield for a selected maturity window, while borrowers can secure a known borrowing cost for the same period. Fixed-rate positions are useful for users who need predictable cash flows, such as treasuries planning stable returns or borrowers who want certainty over their future interest expense. In practice, users choose an asset and a term, then the app quotes a rate that reflects current market liquidity for that maturity. Once executed, the rate for that position remains fixed until maturity, reducing exposure to short-term interest volatility. This structure enables clearer budgeting, more accurate scenario analysis, and improved rate risk management compared to purely floating-rate lending.

Variable-rate money markets

For users who prefer flexibility or want to react to market conditions in real time, Exactly also supports variable-rate supply and borrow markets. These function similarly to other DeFi money markets: interest rates adjust algorithmically based on the utilization of each asset pool. When utilization is high, supply APYs tend to rise and borrow APRs increase; when utilization falls, rates typically decline. Variable markets suit users who expect rates to move in their favor or who are comfortable with rate fluctuations. Traders, market makers, and short-term borrowers often rely on variable markets to rapidly open and close positions without committing to a fixed maturity.

Non-custodial, wallet-based access

Exactly is non-custodial and accessed via a compatible Web3 wallet on Optimism. Users retain control of private keys and execute transactions directly to the protocol’s smart contracts. This architecture removes counterparty custody risk associated with centralized providers, while introducing smart contract risk that users must evaluate. Positions, rates, and collateral health are visible on-chain and can be monitored through the app interface or public block explorers. Because custody remains with the user, operational security—such as safeguarding seed phrases and using hardware wallets—is essential.

Collateralized borrowing and risk parameters

Borrowing on Exactly requires posting collateral that is subject to loan-to-value (LTV) and liquidation thresholds specific to each asset. These parameters are designed to protect market solvency. If an account’s collateral value falls relative to its borrow balance, it can become eligible for liquidation, where third parties repay part of the debt in exchange for a portion of the collateral at a defined penalty. Users should monitor collateral ratios, consider asset volatility, and maintain prudent buffers to avoid forced liquidations. The app displays real-time health factors and utilization so that borrowers can manage risk proactively.

Built on Optimism for lower fees and faster confirmations

Exactly operates on Optimism, an Ethereum Layer 2 network designed to reduce costs and increase throughput compared to mainnet Ethereum. For users, this generally means lower gas fees for supplying, borrowing, claiming interest, and managing collateral. Transaction finality is typically faster than on mainnet, improving the user experience for frequent position management. However, bridging assets to Optimism introduces its own considerations: users may incur bridge fees and should account for withdrawal challenge periods when moving funds back to mainnet, depending on the bridge used.

Transparent on-chain markets and analytics

All market data in Exactly—rates, utilization, liquidity, and maturities—is on-chain and queryable. The app interface typically surfaces key metrics so users can compare fixed versus variable opportunities, view historical rate trends, and assess the depth of liquidity before executing. This transparency allows investors and borrowers to make data-driven decisions without relying on opaque, off-chain pricing. Sophisticated users can integrate on-chain data into dashboards or risk models, and teams managing treasury can export position data for reconciliation and reporting.

Exactly Pricing & Fees

Exactly’s costs are primarily embedded in on-chain interest rates and network transaction fees. Because rates are market-driven and can change frequently, users should consult the live app for precise APRs and APYs before opening any position. Any protocol-level fees, reserve factors, or liquidation penalties are generally disclosed within the app and documentation.

The following table summarizes the main cost elements and what users should expect to verify in the interface.

Cost element	How it is determined	Notes
Supply APY (variable)	Algorithmic, based on pool utilization	Changes with liquidity conditions; shown per asset in-app
Borrow APR (variable)	Algorithmic, based on pool utilization	Adjusts continuously; view live rate before borrowing
Fixed-rate yield/interest	Market-driven at order execution	Locked for the chosen maturity once confirmed on-chain
Protocol/Reserve fee	Varies by market and configuration	Refer to app/docs; may reduce supplier yield marginally
Liquidation penalty	Defined per asset/market	Applied only if a position is liquidated
Network gas fees	Set by Optimism network	Paid per transaction; usually lower than Ethereum mainnet
Bridging fees	Set by chosen bridge/liquidity route	Applies when moving funds to/from Optimism

If the website or documentation does not publish specific fee rates, treat pricing as “visible in app” or “market-determined.” For treasuries or funds executing larger orders, testing with small transactions can help validate slippage, execution, and gas before committing meaningful size.

Pros and Cons

• Fixed and variable options: Users can choose predictable fixed maturities or flexible floating rates, aligning with different risk and planning needs.

• Non-custodial control: Funds remain in users’ wallets, reducing reliance on centralized custodians and enabling transparent, on-chain tracking of positions.

• Operates on Optimism: Lower gas and faster confirmations than Ethereum mainnet make frequent position management more cost-effective.

• Transparent market data: Live, on-chain rates and utilization allow data-driven decisions and easier reconciliation for treasury workflows.

• Collateralized borrowing: Borrowers can unlock liquidity without selling core holdings, while managing LTV and health factors in real time.

• Maturity-based planning: Fixed-rate maturities support budgeting, hedging, and interest expense forecasting for teams and active traders.

• Smart contract risk: Like any DeFi protocol, users face code and integration risks; audits reduce but do not eliminate this exposure.

• Market liquidity variability: Rates and available liquidity can move quickly, affecting execution for larger orders and certain maturities.

• Liquidation risk: Volatile collateral can trigger liquidations if buffers are thin; users must monitor health metrics closely.

• Bridge and network considerations: Moving assets to Optimism involves bridge fees, timing, and operational steps that some users may find complex.

• No fiat accounts or insurance: Exactly is not a bank; there is no deposit insurance, card access, or fiat rails within the protocol.

• Jurisdictional uncertainty: Regional rules around DeFi vary; interface access and usage may be restricted by local compliance requirements.

Who Is Exactly Best For?

Exactly is well-suited for crypto-native users and teams who need on-chain lending and borrowing with a choice between fixed and floating rates. Treasury managers at DAOs or Web3 startups looking to ladder fixed maturities for planning, traders hedging rate exposure around specific events, and market participants seeking yield on idle stablecoins or crypto collateral can all find use cases. For example, a team managing $250K–$2M in stablecoins may allocate a portion to fixed-rate maturities for runway visibility while keeping another portion in variable markets to capture potential upside if rates rise.

Active borrowers who want to avoid uncertain carrying costs can benefit by locking in fixed terms before anticipated volatility. Conversely, market makers and arbitrageurs who need flexibility may prefer variable-rate borrowing when utilization is low. Users who frequently rebalance or compound can also take advantage of Optimism’s lower transaction fees relative to mainnet.

Exactly is not ideal for users seeking traditional banking features such as fiat accounts, corporate cards, or expense management. It also may not suit those unfamiliar with self-custody and on-chain transaction management. If you require regulated custody, fiat on/off ramps, or institutional credit lines with KYC, a centralized exchange or custodial lender may be a better fit. New users should start small, understand collateral parameters, and ensure they are comfortable with DeFi-specific risks before scaling positions.