The FT/GT separation is what makes TermMax interesting to me. It separates the fixed-rate claim from the underlying leveraged position.
نشر
Alone_ch
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هابط#termmax @TermMax The rate may be fixed, but the position is not static.
That’s the part of @TermMax I find more interesting the more I look.
TermMax offers fixed borrowing and lending rates over specified terms. Its FT, XT and GT structure represents different components of the mechanism, while FT can be traded before maturity.
That changes the meaning of maturity for me. If a fixed-rate position can change hands before expiry, maturity stops looking like just a fixed endpoint and starts becoming part of how the position is valued over time.
Then range-order pricing adds another layer: market makers can configure pricing across selected ranges, but what happens when remaining maturity changes faster than available liquidity can adjust?
That is the unexpected part. A fixed rate removes one source of uncertainty, but a tradable position introduces a different market question around time, pricing and liquidity.
I don’t want to assume the mechanism solves that automatically. I want to see how those three variables actually interact when participants trade before maturity.
@TermMax #TermMax unexpected move in $BTC #btc70k going down in upcoming days
That’s the part of @TermMax I find more interesting the more I look.
TermMax offers fixed borrowing and lending rates over specified terms. Its FT, XT and GT structure represents different components of the mechanism, while FT can be traded before maturity.
That changes the meaning of maturity for me. If a fixed-rate position can change hands before expiry, maturity stops looking like just a fixed endpoint and starts becoming part of how the position is valued over time.
Then range-order pricing adds another layer: market makers can configure pricing across selected ranges, but what happens when remaining maturity changes faster than available liquidity can adjust?
That is the unexpected part. A fixed rate removes one source of uncertainty, but a tradable position introduces a different market question around time, pricing and liquidity.
I don’t want to assume the mechanism solves that automatically. I want to see how those three variables actually interact when participants trade before maturity.
@TermMax #TermMax unexpected move in $BTC #btc70k going down in upcoming days
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