Exactly Wrapped stETH

EXAWSTETH Price

About Exactly Wrapped stETH (exawstETH)

Exactly Wrapped stETH is an ERC-4626 compliant voucher token representing a user's interest-bearing deposit of wrapped staked Ether (wstETH) within the Exactly Protocol.

• It functions as an exaVoucher, allowing users to supply liquidity to the protocol's Variable Rate Pool while earning variable yield.
• The token serves as a composable asset that can be used as collateral for fixed or variable interest rate loans across the Exactly ecosystem.
• Built on the Optimism network, it leverages Layer 2 scaling to provide efficient credit market interactions with reduced transaction costs.

What Is Exactly Wrapped stETH

exawstETH is a yield-bearing receipt token issued by the Exactly Protocol, a decentralized platform designed to complete the DeFi credit market. When a user deposits wstETH into the Exactly Variable Rate Pool, the protocol mints exawstETH as a voucher for the deposited amount.

The value of the token increases over time relative to the underlying wstETH as interest is accrued from borrowers within the protocol. These earnings are generated through a continuous and differentiable interest rate model that adapts to market demand. The token is "put to work" by providing immediate liquidity to various Fixed Rate Pools as needed, ensuring the protocol can satisfy fixed-rate loan demands even when specific maturity deposits are insufficient. As the ecosystem grows and the rotation speed of fee collection increases, the yield potential for exawstETH holders scales accordingly.

What Makes Exactly Wrapped stETH Unique

• ERC-4626 Standard: It utilizes the Tokenized Vault Standard (ERC-4626), which improves interoperability and allows the token to be easily integrated into other decentralized applications.
• Fixed-Rate Liquidity Provision: Unlike standard yield tokens, exawstETH liquidity can be dynamically allocated to back fixed-rate loans. Holders receive a portion of the interest fees as earnings for providing this early liquidity to maturity-specific pools.
• Dynamic Interest Model: It is part of a protocol that determines fixed rates based on the utilization rate of pools with different maturity dates, rather than relying on custom Automated Market Makers or maturity token pricing.

What Can You Use Exactly Wrapped stETH for?

• Collateralization: Users can use exawstETH as collateral to take out loans at either fixed or variable interest rates within the Exactly Protocol.
• Yield Accrual: Holding the token allows users to passively earn variable earnings that accrue periodically through the protocol's lending activities.
• DeFi Composability: As a standard ERC-20 extension, the voucher can be exchanged or used across other protocols, adding a layer of utility beyond the Exactly platform.

How Does Exactly Wrapped stETH Work?

When wstETH is supplied to the Variable Rate Pool, the protocol mints exawstETH. This pool acts as a primary liquidity reservoir for multiple Fixed Rate Pools, each representing a specific maturity date. When a loan is requested in a Fixed Rate Pool, it is initially funded by the Variable Rate Pool if specific deposits are unavailable.

As an application utility token, users pay protocol service fees when interacting with the Exactly credit market. These fees are distributed to liquidity providers and the protocol's reserve. To maintain system health, the protocol uses a liquidation process where third parties can repay a portion of a borrower's debt in exchange for the underlying collateral at a discount if the borrower's health factor falls below a predefined threshold.

Team Info and Investors

Exactly Protocol was started in July 2021 and launched to the Ethereum mainnet in November 2022 by founders Gabriel Gruber and Francisco Lepone. The project is managed by a team with expertise in software engineering, economics, and finance.

The protocol is backed by several long-term capital partners, including Kaszek, Newtopia, 6th Man Ventures, BairesDAO, and NXTP Ventures. Individual investors such as Kain Warwick (Co-Founder of Synthetix) and Esteban Ordano (Co-Founder of Decentraland) have also provided early backing. Governance is currently overseen by a Risk Management Committee multisig with a timelock, with plans to transition to a DAO structure in the future.

Where can you buy Exactly Wrapped stETH?

EXAWSTETH tokens have stopped trading - ago on all exchanges listed on CoinGecko. Information will be updated if market activity resumes.

What is the daily trading volume of Exactly Wrapped stETH (EXAWSTETH)?

The 24 hour trading volume of Exactly Wrapped stETH (EXAWSTETH) is $0 which signals a drop in market activity. If you own EXAWSTETH tokens, liquidity of the token is likely to be low. Proceed with caution. You may explore CoinGecko’s list of most traded cryptos for coins with higher liquidity.

What is the highest and lowest price for Exactly Wrapped stETH (EXAWSTETH)?

Exactly Wrapped stETH (EXAWSTETH) reached an all-time high of $5,983.80 and an all-time low of $1,674.30. It’s now trading -67.80% below that peak and 15.20% above its lowest price.

What is the market cap of Exactly Wrapped stETH (EXAWSTETH)?

Market capitalization of Exactly Wrapped stETH (EXAWSTETH) is $101,834 and is ranked #- on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of EXAWSTETH tokens (53 tokens are tradable on the market today).

What is the fully diluted valuation of Exactly Wrapped stETH (EXAWSTETH)?

The fully diluted valuation (FDV) of Exactly Wrapped stETH (EXAWSTETH) is $101,834. This is a statistical representation of the maximum market cap, assuming the maximum number of 52 EXAWSTETH tokens are in circulation today. Depending on how the emission schedule of EXAWSTETH tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Exactly Wrapped stETH compare against its peers?

With a price decline of -8.60% in the last 7 days, Exactly Wrapped stETH (EXAWSTETH) is underperforming the global cryptocurrency market which is down -6.40%, while underperforming when compared to similar Optimism Ecosystem cryptocurrencies which are up 0.40%.