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CDS Startups Exactly Protocol Raises $2 Million in Funding

Startups

Exactly Protocol Raises $2 Million in Funding

oguz19/01/20231 Mins read384

Exactly Protocol Raises $2 Million in Funding

Exactly Protocol announced that it raised $2 million in a funding round and launched the Ethereum mainnet to complement the DeFi loan market.

Table of Contents

About Funding

Exactly Protocol has raised a total investment of 5 million dollars since its inception. With the investment of 2 million dollars in this funding, it increased its total valuation to 7 million dollars. Angel investors such as Kain Warwick and Esteban Ordano, as well as companies such as Bodhi Ventures, Newtopia, NXTP Ventures, and Kazsek Ventures, participated in the funding round. Exactly Protocol will use the investments raised to expand its team and aim to become the best DeFi protocol on the market.

About Exactly Protocol

Platform aims to revolutionize the DeFi loan market by bringing an innovative perspective to the DeFi protocol. Traditional finance loans work on a long-term, fixed-rate loan deposit system. Platform strives to bring this feature of conventional finance to the DeFi market.

The DeFi protocol developed by Exactly Protocol is an open-source and non-custodial protocol that offers both floating and fixed interest rates for lenders and borrowers. The company offers users a protocol with a stable and more predictable profitability ratio.

Vision

Since its founding in 2022, Exactly Protocol has announced many partnerships and developments to realize its goals. The company’s long-term vision is to connect DeFi to the traditional financial world. This will allow users, companies, and investors around the world to reap the benefits of a transparent ecosystem. Connecting traditional finance with DeFi could also be a good opportunity to show old-school investors the potential of DeFi.

Finally, Exactly Protocol plans to launch its Optimism product in the coming months as it moves step by step towards its goal of becoming number one among DeFi protocols. Kim Warwick, investor, and advisor at Exactly Protocol said:

”It’s been awesome to watch Exactly develop their roadmap and then see it play out as they reach these milestones. L2 is pure fire and I’m excited they have chosen Optimism as the best place to build — this is a great outcome for the ecosystem. I’m bullish on Exactly and the innovation they bring to DeFi in 2023.”

References

www.medium.com

www.exact.ly

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Written by

oguz

The author is a political science and public administration student at Kocaeli University. He is also studying Management Information Systems at Anadolu University. He met Blockchain technology and Cryptocurrencies for the first time in 2019. Interested in cryptocurrencies for over 2 years. In addition he provides E-commerce and social media marketing services.

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