Sarah!!
نشر
Sara_ k
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صاعد𝗧𝗲𝗿𝗺𝗠𝗮𝘅 𝗔𝘁𝗼𝗺𝗶𝗰 𝗢𝗿𝗱𝗲𝗿𝘀: 𝗢𝗻𝗲 𝗣𝗼𝗼𝗹, 𝗠𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝗖𝗿𝗲𝗱𝗶𝘁 𝗠𝗮𝗿𝗸𝗲𝘁𝘀.
At first I assumed high TVL meant healthy markets. Then I noticed a lot of capital just sits idle inside one pool or one maturity, waiting. It looks solid on a dashboard, but much of it is not doing much.
That made me pay attention to TermMax Atomic Orders. The idea is simple on the surface: one pool of liquidity can sit across several fixed-rate credit markets at the same time. When a borrower takes size in one of them, the liquidity is removed from every market it was offered in. Atomically. No double-spending the same dollars.
In theory this cuts fragmentation between maturities and different collateral markets. Liquidity starts to behave a bit like a hidden orderbook that several markets can draw from. Capital gets reused instead of locked into silos.
But higher capital efficiency is not the same as real demand. Shared liquidity can make every market look deeper until two or three of them need the capital at the same moment. Then the constraint shows up fast. Reusable does not mean unlimited.
What I’m watching now is not the headline TVL number. I’m more interested in how often that capital actually gets redeployed, how much credit activity it supports per dollar, and whether the activity stays healthy once incentives fade. Utilization and reuse frequency feel like better signals than locked capital alone.
Maybe the better question for DeFi liquidity is not “How much capital is locked?” but “How much useful credit activity can that capital repeatedly support?”
#termmax @TermMax
#termmax @TermMax $tmx
At first I assumed high TVL meant healthy markets. Then I noticed a lot of capital just sits idle inside one pool or one maturity, waiting. It looks solid on a dashboard, but much of it is not doing much.
That made me pay attention to TermMax Atomic Orders. The idea is simple on the surface: one pool of liquidity can sit across several fixed-rate credit markets at the same time. When a borrower takes size in one of them, the liquidity is removed from every market it was offered in. Atomically. No double-spending the same dollars.
In theory this cuts fragmentation between maturities and different collateral markets. Liquidity starts to behave a bit like a hidden orderbook that several markets can draw from. Capital gets reused instead of locked into silos.
But higher capital efficiency is not the same as real demand. Shared liquidity can make every market look deeper until two or three of them need the capital at the same moment. Then the constraint shows up fast. Reusable does not mean unlimited.
What I’m watching now is not the headline TVL number. I’m more interested in how often that capital actually gets redeployed, how much credit activity it supports per dollar, and whether the activity stays healthy once incentives fade. Utilization and reuse frequency feel like better signals than locked capital alone.
Maybe the better question for DeFi liquidity is not “How much capital is locked?” but “How much useful credit activity can that capital repeatedly support?”
#termmax @TermMax
#termmax @TermMax $tmx
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