For two-state ion-channel gating, let and be the rates of entering and leaving the permissive state. Gain minus loss gives
At fixed membrane potential, these coefficients are constant. The deviation obeys , so the initial condition yields
This approaches the fixed-voltage limit monotonically and stays between and , as a valid probability must.
Convention qualification: the displayed single exponential function describes a voltage-clamp step, not an arbitrary time-dependent action potential. For example, a second imposed voltage step changes both coefficients and requires a new exponential segment. For general the integrating-factor solution is , with .

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