Range orders sound like a small feature addition until you notice what they replace, and what they don't yet have to answer for. Most fixed-rate lending protocols pick a rate curve for you, take it or leave it, the way Aave and Compound largely still do on variable markets. TermMax's range orders hand that curve-setting to the user directly, letting lenders and borrowers define their own pricing bands rather than accept a pooled average. $TMX #TermMax @term_max, alongside comparable fixed-rate players like $PENDLE and $MORPHO, is being framed as a pricing-autonomy upgrade, but the detail that stayed with me is who actually uses that autonomy in practice, curators and market makers with the tooling and time to actively manage bands, not the average depositor who just wants a yield number. The token itself is still pre-market, non-transferable pre-mine only, no live price discovery yet, so what's being tested right now is really the mechanism's behavior under incentive farming, not under real capital allocation pressure. Pricing flexibility is only valuable if enough people are equipped to use it well, otherwise it just concentrates control over rates among fewer, more sophisticated actors. Whether that gap narrows once TMX actually trades is the part I can't answer yet.
#termmax @TermMax