Question 1

Which protocol decisions can EXA holders participate in?

Accepted Answer

EXA holders can vote on system changes and upgrades in Exactly Protocol. This is a governance use of the token; the specific changes are considered and voted on through the relevant proposals.

Question 2

Is an exaVoucher received after depositing assets in Exactly the same as EXA?

Accepted Answer

No. EXA is used for protocol-governance voting, whereas an exaVoucher is a deposit receipt minted when assets are deposited into the Variable Rate Pool and uses the ERC-4626 standard. Receiving a deposit receipt does not mean receiving the EXA governance token.

Question 3

What determines Exactly's fixed borrowing rate?

Accepted Answer

The fixed rate is determined by the credit utilization rate of the relevant Fixed Rate Pool. Utilization may differ between pools, so a quote for one pool should not be treated as a single rate for all fixed-term borrows.

Question 4

Until when can a Fixed Rate Pool accept new borrows, and what collateral is required?

Accepted Answer

A borrower needs sufficient collateral in the Variable Rate Pool and must request the borrow before the selected Fixed Rate Pool matures. No new borrows can be made after that pool's maturity date, which is the cutoff for new borrowing from it.

Question 5

Can a fixed-rate deposit be used directly as collateral to borrow other assets?

Accepted Answer

No. Exactly fixed-rate deposits cannot be used as collateral for borrowing other assets. Collateral required for a fixed borrow is held in the Variable Rate Pool; a fixed-deposit balance cannot directly count as that collateral.

Question 6

When repaying a fixed borrow early, must the originally scheduled maturity amount always be paid in full?

Accepted Answer

Not necessarily. An early repayment may receive a discount that takes account of pool utilization at the time of repayment. The discount is not a fixed benefit guaranteed in advance; the early-repayment amount depends on the pool's state at that time.

Question 7

When does a penalty begin for an overdue fixed borrow, and what amount is it calculated on?

Accepted Answer

The penalty begins after the borrow's maturity and is charged for every second of delay. Its basis is the entire debt, including principal and fixed interest fees, rather than principal alone; delaying repayment increases the amount due.

Question 8

Can a fixed-rate deposit be withdrawn early, and how does settlement work?

Accepted Answer

Yes, provided the protocol has enough available liquidity. Mechanically, an early withdrawal is equivalent to requesting a fixed-rate borrow in the same Fixed Rate Pool for the total deposit, principal plus earnings; the scheduled maturity amount therefore cannot simply be treated as the amount received on an early withdrawal.

Question 9

Does a fixed-rate deposit continue to earn interest if it remains after maturity?

Accepted Answer

No. Assets from a fixed deposit that remain in the pool after maturity do not generate additional interest. Delaying withdrawal is not an automatic renewal and does not automatically extend the original fixed interest period.

Question 10

What is transferred with an exaVoucher, and why can a transfer sometimes fail?

Accepted Answer

Transferring an exaVoucher transfers the corresponding Variable Rate Pool deposit position. If the transfer would cause the original address's health factor to fall below 1 and create a shortfall, the transaction is reverted; the transfer cannot leave an undercollateralized borrow position behind.

Question 11

What happens when an Exactly borrow position's health factor falls below 1?

Accepted Answer

A health factor below 1 means the account is considered to have a shortfall and is open to liquidation. This is the condition that makes liquidation possible; it does not mean all collateral is necessarily liquidated at once the instant the threshold is reached.

Question 12

Is liquidity in each Fixed Rate Pool completely separate?

Accepted Answer

Not completely. Exactly's Variable Rate Pool provides liquidity to the different Fixed Rate Pools as needed, allowing fixed-term markets to receive shared liquidity support. This mechanism does not mean every term has unlimited funds available to borrow.

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