#termmax @TermMax Checked how TermMax's TVL splits across chains, expecting it spread out since they're live on 9 now. It's not. Ethereum alone holds 98.4%. Arbitrum, Berachain, BSquared, Hyperliquid L1, the rest — rounding error by comparison.
that's not a "not popular elsewhere" problem, it's a fixed-term liquidity problem specifically. A normal AMM or perp DEX can bootstrap thin liquidity on a new chain and still function, because any two tokens can trade against each other. Fixed-rate lending doesn't work that way — a lender at 90-day maturity needs a borrower at that same maturity, same chain, same collateral pair. Splitting an already-narrow order book across 9 chains doesn't add liquidity, it divides the same liquidity into smaller, less matchable pieces.
so deploying everywhere fast might actually be the wrong growth strategy for this specific model. Depth on one chain probably beats presence on nine, until each new chain can support its own real order book instead of just its own contract address.
curious if curator vaults are meant to solve this by routing capital to wherever the maturity gap actually is.
that's not a "not popular elsewhere" problem, it's a fixed-term liquidity problem specifically. A normal AMM or perp DEX can bootstrap thin liquidity on a new chain and still function, because any two tokens can trade against each other. Fixed-rate lending doesn't work that way — a lender at 90-day maturity needs a borrower at that same maturity, same chain, same collateral pair. Splitting an already-narrow order book across 9 chains doesn't add liquidity, it divides the same liquidity into smaller, less matchable pieces.
so deploying everywhere fast might actually be the wrong growth strategy for this specific model. Depth on one chain probably beats presence on nine, until each new chain can support its own real order book instead of just its own contract address.
curious if curator vaults are meant to solve this by routing capital to wherever the maturity gap actually is.