#termmax @TermMax
Month 13 Is the Real TMX Test
I kept staring at TermMax’s allocation table again this morning. 28% for investors, 15% for the team, and 3% for advisors, all with a 12-month cliff.
That looked clean until I did the monthly math.
On a 1B TMX supply, that’s 280M investor tokens + 150M team + 30M advisors = 460M TMX sitting behind the cliff. Once vesting starts, the pressure becomes much more interesting: investors are roughly 11.7M TMX/month, team around 5M/month, and advisors about 1M/month based on their published vesting periods.
So you’re looking at roughly 17.7M TMX/month entering the market from those three groups.
And this is why I think month 13 matters more than TGE.
TermMax is launching with a 1B fixed supply and ~20% circulating at TGE, meaning roughly 200M TMX can be in the market initially.
The protocol itself has some real numbers to grow into: $90M+ TVL, 1.5M+ registered wallets, 90K+ daily active users and deployment across 10 EVM chains.
But here’s what I’ll actually be watching.
If the protocol can grow fees, staking demand and liquidity faster than those ~17.7M monthly tokens arrive, the unlocks may become manageable.
If not, the clean tokenomics table suddenly looks very different.
TGE tells us how TMX launches.
Month 13 tells us whether the design actually works.
Month 13 Is the Real TMX Test
I kept staring at TermMax’s allocation table again this morning. 28% for investors, 15% for the team, and 3% for advisors, all with a 12-month cliff.
That looked clean until I did the monthly math.
On a 1B TMX supply, that’s 280M investor tokens + 150M team + 30M advisors = 460M TMX sitting behind the cliff. Once vesting starts, the pressure becomes much more interesting: investors are roughly 11.7M TMX/month, team around 5M/month, and advisors about 1M/month based on their published vesting periods.
So you’re looking at roughly 17.7M TMX/month entering the market from those three groups.
And this is why I think month 13 matters more than TGE.
TermMax is launching with a 1B fixed supply and ~20% circulating at TGE, meaning roughly 200M TMX can be in the market initially.
The protocol itself has some real numbers to grow into: $90M+ TVL, 1.5M+ registered wallets, 90K+ daily active users and deployment across 10 EVM chains.
But here’s what I’ll actually be watching.
If the protocol can grow fees, staking demand and liquidity faster than those ~17.7M monthly tokens arrive, the unlocks may become manageable.
If not, the clean tokenomics table suddenly looks very different.
TGE tells us how TMX launches.
Month 13 tells us whether the design actually works.