TermMax and Morpho are joining forces to merge fixed-rate and variable-rate DeFi. TermMax, with $49M+ TVL and 100+ markets, offers predictable lending and borrowing with maturity dates. Through V2’s Composable Base Yield, idle capital in TermMax vaults can automatically earn Morpho’s floating yield until matched for fixed-rate loans.
Three key integrations drive this:
1. *Vault Base Yield*: Curators can route unmatched deposits into Morpho ERC-4626 vaults for continuous returns.
2. *Roll to Morpho*: Borrowers can exit fixed-rate positions early and refinance directly into Morpho to avoid maturity cliffs.
3. *Limit Order Yield*: Unfilled lender/borrower limit orders earn Morpho yield until filled.
Together, this ensures capital never sits idle, gives borrowers flexibility, and creates a growth flywheel for both protocols.
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