TGE for TermMax just got confirmed and registered wallets: over 1.5 million. Daily active users: around 90k. That gap sat with me longer than I expected.
Everyone's holding an XP/AP/MP position waiting to claim after TGE, sure, but only a fraction are actually opening a market and locking in a fixed rate day to day.
TVL sits above $90M across ten EVM chains, deployed alongside Morpho, Aave, Venus, Pendle integrations so the plumbing's real. It's just that most of the users showed up for the token, not the lending curve.
The infrastructure works FT/XT/GT mechanics are genuinely elegant for fixed rate borrowing but adoption right now looks more like positioning for an airdrop than people rolling over term loans for yield certainty, that's just what pre-TGE protocols usually look like.
Question is whether that 90k stays flat or climbs once the claim event passes and the farming crowd exits… anyone tracking that ratio post TGE?
@TermMax #TermMax
Everyone's holding an XP/AP/MP position waiting to claim after TGE, sure, but only a fraction are actually opening a market and locking in a fixed rate day to day.
TVL sits above $90M across ten EVM chains, deployed alongside Morpho, Aave, Venus, Pendle integrations so the plumbing's real. It's just that most of the users showed up for the token, not the lending curve.
The infrastructure works FT/XT/GT mechanics are genuinely elegant for fixed rate borrowing but adoption right now looks more like positioning for an airdrop than people rolling over term loans for yield certainty, that's just what pre-TGE protocols usually look like.
Question is whether that 90k stays flat or climbs once the claim event passes and the farming crowd exits… anyone tracking that ratio post TGE?
@TermMax #TermMax
