TermMax finally put a date on it: TGE is August 25. I went looking for the token split before getting excited about anything else. 1 billion fixed supply, roughly 20% circulating at launch, team and investors both under a 12-month cliff. Ecosystem gets 29%, investors 28%, community 15%.
What struck me is how unremarkable that split is. No aggressive low-float trick, no all-in community giveaway either. It reads like a team planning for years of incentive budget, not a team optimizing for day-one chart action.
The part I actually care about is the fee capture. TMX stakes into sTMX, and rewards are supposed to draw from real protocol revenue lending fees, liquidation fees, FT/XT trading fees. That's a very different pitch than "governance token, vote sometimes."
Whether $19k in monthly protocol revenue can eventually justify a token with real yield backing is the open question. Fixed-rate DeFi needs volume before it needs a token.
#TermMax @TermMax
What struck me is how unremarkable that split is. No aggressive low-float trick, no all-in community giveaway either. It reads like a team planning for years of incentive budget, not a team optimizing for day-one chart action.
The part I actually care about is the fee capture. TMX stakes into sTMX, and rewards are supposed to draw from real protocol revenue lending fees, liquidation fees, FT/XT trading fees. That's a very different pitch than "governance token, vote sometimes."
Whether $19k in monthly protocol revenue can eventually justify a token with real yield backing is the open question. Fixed-rate DeFi needs volume before it needs a token.
#TermMax @TermMax