# Exceed

> Exceed is a private credit company. It invests in secured US loans and pays holders of its digital notes a stated rate, credited every day and redeemable every week. The notes are registered on the Solana blockchain. The main note is exUSDC, which pays interest in US dollars; exSOL and exBTC pay in SOL and in bitcoin. Notes are offered by invitation.

## What the notes are

- exUSDC is a digital note issued by Exceed on Solana under its Terms and Conditions. What Exceed owes the holder grows every day at the note rate (currently 10% a year, set by Exceed and reviewed every two weeks against the portfolio's performance). A change applies only to future interest; interest already credited is never revised.
- Redemption runs weekly: requests are accepted at any time, each window closes on Monday at 12:00 UTC and is paid in USDC on Thursday. The only fee is a 0.2% redemption fee; there is no purchase, management or performance fee.
- The portfolio behind the dollar note is described by asset class: US consumer credit (auto loans and home equity lines of credit originated by Figure), secured corporate loans, corporate bonds and the money market. The live weights are published on the site and in the app, and positions are financed with secured borrowing.
- exSOL pays a stated rate in SOL from staked SOL, SOL lending and secured credit; exBTC pays a stated rate in bitcoin (cbBTC) from secured credit financed against bitcoin. Both also pay FXT points.
- Risks: the notes can lose value if the portfolio loses money. Nothing on the site is a guarantee of return or of principal. The notes are not registered with any regulator and are a private offering to invited investors; requests are made in the app and reviewed by Exceed before an invitation is issued.
- The company behind Exceed is Horus Research LLC, registered in Saint Vincent and the Grenadines, the party to the Terms and Conditions. Exceed was founded in 2023. The dollar note launched on 5 October 2024 as pUSD (mint 9ir8o6rj7dJsXXFQPbDZcWCiPx4UDcdTKrYZfnct6GDm) and moved to the exUSDC token (mint 8B9vL4c9w5HiyFXdPT8Z8hgFvSeZ14Y5DxjCZyRSTf4z) in June 2025; holders have been credited interest every day since launch.

## Where to verify

- [Landing page](https://exceed.finance/): the note, the portfolio by asset class, the track record, how to check.
- [App](https://app.exceed.finance/vaults): the notes, the next redemption windows, and the addresses to verify everything on a block explorer.
- [The register and the addresses](https://exceed.finance/verify): every mint (including the pUSD predecessor), the rate accounts, the program and the signing keys, how to read them, the audit and the custody of the keys.
- [DeFiLlama](https://defillama.com/protocol/exceed-finance): the notes, tracked by a third party from the same on-chain data.
- [Quantstamp audit of the smart contracts](https://certificate.quantstamp.com/full/exceed-finance-liquid-staking-early-purchase/cde4c9ed-dfc2-460f-bc2c-780ce622fff7/index.html).
- [Terms and Conditions](https://exceed.finance/terms-and-conditions.pdf): the document that governs the notes. Where the site and the Conditions differ, the Conditions prevail.

## Contact

- info@exceed.finance.
- Past performance is not a reliable indicator of future results. This file is a description, not an offer, a solicitation or investment advice.