[EXAIP-24] Rewards Controller Update

Proposal ID: EXAIP-24
Proposer: Exa Labs
Date: April 2, 2025

Summary

This proposal introduces a new implementation to the Exactly Protocol’s Rewards Controller. The new design extends reward distributions to fixed deposits while incorporating several gas optimizations to ensure low transaction costs when interacting with Markets or claiming reward assets.

Background

The RewardsController contract manages the distribution of reward assets across the Exactly Protocol. Until now, rewards were only allocated to variable deposits, variable borrows, and fixed borrows. Due to technical limitations, fixed deposits were excluded. This proposal addresses those limitations, enabling fair and efficient reward distribution to fixed deposit positions.

Technical Implementation

The proposed changes enable rewards to be distributed to fixed-interest rate deposits. Rewards previously allocated to variable-rate deposits will now be equally shared with fixed-rate deposits. Fixed depositors will be able to view their new reward deposit rate.

To support this, new storage variables are added to the Market Contract to consolidate users’ fixed deposits and borrowings more efficiently. This reduces the gas cost of reward calculations by up to 70% and improves the codebase for future enhancements.

Audits

• ABDK audit report
• Github diff comparison

Conclusion

This upgrade enhances the Rewards Controller by expanding reward distribution to fixed deposits and optimizing gas usage. It represents a meaningful step toward improving user incentives and protocol efficiency.