Onchain finance in your pocket

Transcript

[Music] Hi everyone, thanks for coming. My name is Gary Guru. I'm the founder of Exactly Procol and also the X app. I have only 12 minutes. So we will show you a quick presentation, a quick demo and a quick video all in 12 minutes. So let's start. So four years ago here in ETH community conference uh there was a talk by Vitalik saying that you know Ethereum it's great defy it's not so great because people are basically buying and selling tokens. So the idea was to use DeFi to try to solve everyday problems in some way but the problem was that in order to do that uh most people have a salary per month so they cannot borrow

money uh on a variable rate. So we need to find a way to create a protocol with fixed rates on on DeFi and that's why we create exactly protocol in 2023 was launched and since then we have over 300,000 transactions and basically you can deposit and borrow many crypto assets on a variable race variable rate basis and also on a fixed rate basis. So we create this idea of fixed rate pools. You can check check it out how it works but this is working since 2023. Uh but it's not enough. So in order to get to the end consumer, we need to solve the last mile problem because most financial applications are easy to use but are not on chain. So we need to find a way to put the exactly protocol plus

some something else to the user to use. So that's why we launched the the X app. So on March we launched it on the app store and since then basically we had over $3 million in consumptions with the credit card uh on debit mode and create mode uh 50,000 transactions. So in this talk we're going to have four car transactions on chain in this 12 minutes uh and it's working very very well. So if you want to summarize what we are doing. So we have fintech in the front with the x app and uh back end in the back define the back with the exactly protocol. Uh we can go uh more details but ther x app is the front end the

exactly protocol is the back end and in the middle we have alchemy smart account and several plugins that we built in order to make this this happen. Okay. So if you open the app, you will see the the fintech in the front and the uh in the D5 in the back. This is some screens from the app. So basically you have your assets, you have a card, you have pay later and you have fixed rate loans.

Uh and we have several more products coming soon. for example, a transfers on ramp and off ramps uh real world assets. But let me do a quick demo of how it works. This is technology also. So this is the X app. Basically this is my phone. I will open the the X app. Uh you can see here on the top left my account. This is my wallet account. It's a smart account and you can see here my portfolio. So if I click in my portfolio, you can see several assets that I have. Basically when I have the

account, I just transfer any asset and automatically are deposited on exactly protocol. So you get a yield automatically. You don't need to do nothing else. And also you can buy different assets. For example, EXA. And these assets which are your portfolio are the collateral for your loans. So basically to use the card you you download the app in 10 seconds with Pasi you are ready to go and then if you want to receive like a Visa card you need to do a quick KYC and then the next step is to select the pay mode. So the pay mode is if you select pay now it's a regular debit card with crypto which are many of them. But the interesting part is that you can select an installment plan.

Okay. Thank you. Thank you. So, so the interesting part is that you can select different installment plans. So, for example, I will select in four installments. Uh, so now if I go to the home, I see that I can pay with my card in four installments. And the next step is just to buy something. So let's I don't know if you need more internet connection. I can buy a plan for have more data. Okay. So, let's try to buy something uh

with my ex card. So, if you go online, I will try to buy some. Okay. Now, it's working. I will try try not to move. So, I will try to buy this I would pay with Apple Pay. Okay, we are ready to go. So, my order is complete. I have more more data in my phone. And if I go to Apple Pay, you can see that I pay just now $4.5 and there is an onchain transaction of this because I pay in four installments.

So if I go back to the X app, I can go to the activity and in a few seconds I will see the onchain transaction that I just made. Um so yeah, this is the the functionality of the card but we today we launched the XA loans which is basically the same idea but for example if you want to buy a car or a house you basically you can choose how much money you want to to loan for example 100 USDC. And with that you can basically take the loan. So let me show you if we can do it which you select the number of installments. Every

installment has an APR and based on that you select when you want to pay start paying and you can choose if you want to receive the loan in your account or if you want to receive it in an external account or eventually you can transfer that into the seller of the car in in fiat. So in this case I will take a loan for $100. This is the APR around 6% in five installments and all this is doing is being done on chain. So is I pref I press confirm. This is going to set a transaction on chain and in a few seconds we're going to have the loan in my account.

I need to sign with with Pasi and and that's all. Okay, one minute. Let me try the last trick.

Okay, let me try to show you the last thing which is a video. There's a new way to do finance. Technically, it's complex. So, let's make it simple. Buy the forms, phone calls, and outdated systems. Hi to create your smart account in 10 seconds. Bye to have to go to your bank to verify yourself. Hi to full control of your assets. Bye to selling your crypto to pay for stuff. Hi to buying now and paying later while still holding your crypto. Bye to waiting days for a piece of plastic. Hi to your card in less than 5 minutes. Buy to credit scoring, paperwork, and waiting. Hi to instant fixed rate loans backed by your onchain

assets. Buy to zero interest accounts. Hi to earning yield while you spend. By to this feature is not available in your country. Hi to access everywhere. No borders, no flags. Say hi to the EDA app. Exactly what finance should be today. Okay. Thank you. [Music]