TL;DR

• Exponent is evolving, from its brand to its products

• Exponent has become essential infrastructure for portfolio construction on Solana

• This new brand sets the stage for what’s coming next: Exponent v2 – with more details and partners to be unveiled in the coming weeks

• Exponent v2 private beta opens today for a small group of selected users and partners

Today we’re unveiling a fresh new brand for Exponent as we head toward the protocol’s largest update to date.

Since Q2 last year, we've been actively working on the next stage of Exponent, v2, which is set to redefine portfolio construction in DeFi. This new brand reflects how Exponent is evolving and where we’re headed for 2026 and beyond, serving both yield asset issuers and onchain participants on Solana.

You can get a first look at exponent.finance. The app you know and love is still accessible at app.exponent.finance and will migrate to v1.exponent.finance when Exponent v2 releases after its private beta phase.

Building the foundations for active management in DeFi

When we started Exponent, our goal was simple: bring more control to how onchain participants earn yield, whether they want predictable rates or leveraged upside on yield.

To date, Exponent has become the largest interest rate swap exchange on Solana in terms of volume, active users, TVL, ecosystem integrations, and other key metrics. We’ve built the foundation for active portfolio management in Solana DeFi, where users can express views on rates and deploy strategies to outperform market rates with their edge.

However, we quickly saw that the protocol had limitations. While it draws protocol design from EVM counterparts, it is not optimal for larger participants (e.g. asset managers, funds, HNWIs and other institutional allocators), where price execution and market impact matter. It is also not performant for traditional rate markets such as staking and credit, where yield volatility is less important but still present.

This led us to revamp the protocol from first principles, alongside introducing a new brand identity designed to scale Solana’s interest rate markets to a broader audience.

From rate trading to portfolio construction

Today, the platform is more than just an interest rate swap exchange and serves as essential infrastructure for portfolio construction on Solana.

It connects asset issuers with onchain participants, empowering asset managers, funds, and yield participants to actively manage their yield positions and exposures through interest rate swaps.

Instead of a one-size-fits-all approach, Exponent’s interest rate swap markets allow participants to better control how they generate yield onchain, giving more optionality to participants with different profiles and strategies.

Portfolio construction is no longer passive in DeFi, and the ability to hedge, increase exposure, and price yield has become a major driver of performance. We believe participants who fail to adapt will be outclassed by the active ones, and Exponent v2 is designed to power that class of participants further.

As one of the platforms where new yield assets are first listed on Solana, we’ve also seen clear signals about where the industry is going and what kinds of assets are coming onchain. It's clear to us that Exponent should be at the center of that evolution, serving both asset issuers looking for distribution, and onchain participants – from asset managers to funds to yield traders – looking to better construct their portfolios and outperform market rates.

Why the brand needed to evolve

Exponent’s new look is built around where we believe the industry is heading – the assets and participants that will drive the next phase of growth – while remaining true to the users who made Exponent what it is today.

The brand evokes modern finance built on the next generation of financial rails. Not just in crypto, but across finance more broadly, appealing to people excited about rewriting finance as we know it.

The old ways of finance are fading. The future is open, more accessible, and more trustworthy. Exponent is one of the platforms reshaping interest rate markets for this new financial system.

We wanted our brand to reflect this balance: modern financial infrastructure that is also deeply trustworthy, capable of powering billions in earnings volume as high-performance infrastructure. The brand has to appeal to both individuals and institutions who are excited about the next generation of finance built for the internet era.

The next stage of Exponent: v2 and the platform for onchain portfolio construction

As the protocol has evolved, Exponent has been serving two main types of users:

• Yield asset issuers, listing their assets on the platform to gain distribution and offer more options to participants with different risk profiles

• Onchain yield participants (ranging from asset managers, funds, and yield traders) using Exponent to actively construct and manage their onchain yield portfolios

While rebuilding the protocol, our goal with v2 has been to empower these two groups even further, offering better tools for issuers to gain faster traction for their yield assets, while enabling onchain participants to construct portfolios that outperform the market.

As we progress through the coming weeks and toward the end of the quarter, v2 partners will be unveiled gradually, along with access to the new app and its products.

More details about v2 and its vision will be shared in the coming weeks via X and the Exponent blog: exponent.finance/blog.

v2 Private Beta Access

Starting today, we’re rolling out access to the v2 beta to a small group of selected participants for user feedback and partner onboarding. Rather than aiming for quantity, we’re looking for quality to refine v2 ahead of its public launch toward the end of Q1.

If you’re an existing user or asset issuer, you can apply here: exponent.finance/apply

New beta accesses will be distributed over the coming days and weeks, prioritizing users who have actively used Exponent and partners that can directly benefit from the new platform.

We believe Exponent v2 is among the best-positioned protocols to capture the growth of new sophisticated yield assets and participants entering the industry, and we’re excited to begin this next stage of Exponent together.

Stay up to date on v2 and its new products by following Exponent on X: x.com/exponent.finance