Okay so this is one of those updates that's gonna get lost in all the campaign spam if nobody actually talks about it — TermMax's TGE is set for August 25. Which means all that XP and MP and AP grinding people have been doing for months finally turns into an actual token soon.
Here's the thing that actually got my attention though. Most protocols launch the token first and then spend a year trying to convince people to actually use the thing. TermMax did it backwards — over $90M TVL already, 1.5M+ registered wallets, daily actives crossing 90k, and none of that token exists yet. So whatever usage they've got right now isn't hype-driven, it's just people using a fixed-rate lending product because it works better than guessing at floating rates.
Tokenomics side is fine too, nothing crazy — 1B fixed supply, no inflation baked in, and only about 20% unlocked at TGE. Compared to some of the launches we've seen this year dumping half the supply day one, this is actually a bit more restrained.
And they're not just sitting on the lending product either. They plugged in Ondo Global Markets for tokenized stock collateral, so now you can technically borrow against tokenized equities at a fixed rate. That's a weirdly TradFi thing to see working on-chain already.
Only thing I'm not sure about — how the XP/MP conversion actually shakes out for regular users vs the bigger curator names like MEV Capital or Keyrock. That's usually where these launches either feel fair or feel rigged, depending how it's structured.
@TermMax #TermMax $TMX — TGE is close now, anyone actually has a plan for what they're doing with points once it converts?
#termmax @TermMax
$GRAM
$BNB
Here's the thing that actually got my attention though. Most protocols launch the token first and then spend a year trying to convince people to actually use the thing. TermMax did it backwards — over $90M TVL already, 1.5M+ registered wallets, daily actives crossing 90k, and none of that token exists yet. So whatever usage they've got right now isn't hype-driven, it's just people using a fixed-rate lending product because it works better than guessing at floating rates.
Tokenomics side is fine too, nothing crazy — 1B fixed supply, no inflation baked in, and only about 20% unlocked at TGE. Compared to some of the launches we've seen this year dumping half the supply day one, this is actually a bit more restrained.
And they're not just sitting on the lending product either. They plugged in Ondo Global Markets for tokenized stock collateral, so now you can technically borrow against tokenized equities at a fixed rate. That's a weirdly TradFi thing to see working on-chain already.
Only thing I'm not sure about — how the XP/MP conversion actually shakes out for regular users vs the bigger curator names like MEV Capital or Keyrock. That's usually where these launches either feel fair or feel rigged, depending how it's structured.
@TermMax #TermMax $TMX — TGE is close now, anyone actually has a plan for what they're doing with points once it converts?
#termmax @TermMax
$GRAM
$BNB