The register and the addresses
Everything on this page is public. A block explorer such as Solscan shows the same figures as the app, without relying on Exceed. The addresses below are the ones the app itself reads.
The register
Each note is a token on the Solana blockchain. Every note in issue is on this register, which is kept by the program listed further down. Your notes are registered to you; only you can transfer them, and Exceed cannot move or pledge them.
- exUSDC
- 8B9vL4c9w5HiyFXdPT8Z8hgFvSeZ14Y5DxjCZyRSTf4zthe dollar note's register since June 2025
- exSOL
- 4J93x2zCNMrL4Qq8Nuvjk9yNLNkf1Vmqz14UxtcM4unythe exSOL token
- exBTC
- HabWg55SK5Jam5WUpbk8Wfq7JbuAaFVPu8KVFMJj9yVgthe exBTC token
- exUSDC, October 2024 to June 2025
- 9ir8o6rj7dJsXXFQPbDZcWCiPx4UDcdTKrYZfnct6GDmthe pUSD token, the same note from its launch on 5 October 2024 until it moved to the exUSDC token
The rate accounts
Each note has an account that holds its rate and the value of one note. Every change to the rate is a transaction on this account, so the whole history of the rate can be read there.
What the notes are paid in
- exUSDC
- USDC (Circle)
- exSOL
- SOL (native)
- exBTC
- cbBTC (Coinbase)
The program and the keys
- Program
- par1tyqusak2f2DXg9RHv78SVHNWXkJLSbtJZQSuWjVthe smart contract that keeps the register, credits interest and pays redemptions
- Signing authority
- WYSyHasQGFCtfHb1W5pFf64YCzvMSahJgBoZei5RrwJsets the rate and funds redemption windows; its keys are held in multi-party custody
- Access control
- fVo899DhvJosC7DuN2T9p5GYfsTGJqTv6TDeE97YGBethe on-chain list of which keys may set rates and manage the notes
How to read them
- The value of one note. Open the rate account. Its data holds the rate in force and the value of one note; the app shows the same figures.
- The rate history. The rate account's transaction history lists every change to the rate, with its date.
- Your own notes. Your wallet's balance of the token is your holding. Multiplied by the value of one note, it is what Exceed owes you today.
- Redemptions. Each weekly window is an account owned by the program; its data shows what was requested and what was paid.
A third party tracks the notes from the same data: DeFiLlama.
The audit
The program was audited by Quantstamp in 2025. The audit covered every instruction: creating a note, purchases, redemptions, rate setting and access control. The public report. The program is deployed from a verified build, so anyone can compile the published source and confirm it matches what runs on the blockchain.
Who can change what, and who holds the keys
The access-control list names the keys that may set a rate, create a note or change its terms. Only the signing authority holds those rights. Its keys are held in multi-party custody: no single key can sign, and every transaction needs more than one approval. The portfolio's positions are held the same way. Transactions and approvals are logged, and the program, the signing authority and the positions are monitored around the clock by Hypernative, which raises an alert on unusual activity.
The small print on redemptions
Requests are accepted around the clock. A window closes on Monday at 12:00 UTC and is paid on Thursday, at par plus accrued interest, less the 0.2% redemption fee. A request can be cancelled until its window closes; a request made after the close goes into the next window. Paid redemptions remain claimable in the app for 30 days.
exETH and figUSDC are no longer offered; holders redeem in the app. A wallet that holds pikSOL, the earlier SOL token, is shown the conversion to exSOL in the app.
Reporting a security issue
Write to security@exceed.finance.
Nothing on this page is an offer, a solicitation or investment advice. The rights and obligations of the parties are governed solely by the Terms and Conditions of the notes, which prevail where this page differs.