It's popular for most traders to believe that liquidation only occurs when token prices drop precipitously, but that's not the case; liquidation also occurs when there is a sudden rise in borrowing rates.
TermMax secures your borrowing rate at the beginning of the trade, you know just how much you are going to pay before you open the position, and no sudden rate changes during the trade.
This time around, a true structural risk management mechanism is in its place.