Did the actual math on the TermMax Booster's lucky draw pool before deciding whether it's worth the 2 Alpha Points. 1.7M $TMX split across up to 80,000 winners caps out at 21.25 $TMX per person worth doing the arithmetic against whatever price discovery looks like post-TGE rather than assuming it's automatically worthwhile. Realistically,fewer than the 80,000 cap tends to actually complete and verify all five tasks in these campaigns,so per-person payout is usually a bit better than the worst case,not the exact cap number.
Reward math aside,the project underneath it is more built-out than a typical Booster target.TermMax has 837,000+ registered wallets, a peak of 170,000+ daily active users, and $64M+ in TVL not a pre-launch idea,an operating protocol with completed audits published openly. In January,it launched the first fixed-rate borrowing market using Ondo Global Markets' tokenized stocks as collateral on BNB Chain meaning you can now borrow at a fixed rate against a tokenized equity position,with physical delivery mechanics supporting options strategies like covered calls on top of it.That's a genuinely early move into RWA collateral,not a roadmap slide.
What actually got me reading the docs longer than expected is the debt structure itself. A borrower's Gearing Token isn't a black box it's decomposed into a Fixed-Rate Token representing principal and an XT that only exists to keep the FT+XT pair pegged to the underlying debt token until maturity. The Range Order AMM doesn't quote a single flat rate either; curators set an APR range and the curve fills across it,so the rate is actually discovered through matching activity instead of posted as one static number.If a loan isn't fully repaid after the liquidation window,FT holders still get proportional redemption from collateral and underlying assets rather than being left holding nothing.
Not a huge campaign in absolute token terms,but the protocol underneath it is doing more than most Booster targets I've looked at.Worth the two points if you're curious regardless of the payout size.
@TermMax #TermMax
Reward math aside,the project underneath it is more built-out than a typical Booster target.TermMax has 837,000+ registered wallets, a peak of 170,000+ daily active users, and $64M+ in TVL not a pre-launch idea,an operating protocol with completed audits published openly. In January,it launched the first fixed-rate borrowing market using Ondo Global Markets' tokenized stocks as collateral on BNB Chain meaning you can now borrow at a fixed rate against a tokenized equity position,with physical delivery mechanics supporting options strategies like covered calls on top of it.That's a genuinely early move into RWA collateral,not a roadmap slide.
What actually got me reading the docs longer than expected is the debt structure itself. A borrower's Gearing Token isn't a black box it's decomposed into a Fixed-Rate Token representing principal and an XT that only exists to keep the FT+XT pair pegged to the underlying debt token until maturity. The Range Order AMM doesn't quote a single flat rate either; curators set an APR range and the curve fills across it,so the rate is actually discovered through matching activity instead of posted as one static number.If a loan isn't fully repaid after the liquidation window,FT holders still get proportional redemption from collateral and underlying assets rather than being left holding nothing.
Not a huge campaign in absolute token terms,but the protocol underneath it is doing more than most Booster targets I've looked at.Worth the two points if you're curious regardless of the payout size.
@TermMax #TermMax
