#termmax @TermMax quietly dropped something bigger than the zero liquidation pitch while I was digging through the creatorpad task TaskMax just confirmed the TMX TGE for August 25, 2026 and the numbers backing it aren't small: TVL sitting past $90M, 1.5M+ registered wallets, 90K+ daily actives across 10 EVM chains.
I went in expecting to write about leverage mechanics. Ended up staring at that wallet count instead.
the thing that actually stuck, most of that TVL isn't leverage traders at all. It's lenders and vault depositors quietly earning fixed yield while the zero liquidation leverage story gets all the marketing air.
Checked DefiLlama mid task, saw active loans around $29M against total TVL near $34M on the chain I was looking at… so the borrow side is real but thinner than the deposit side suggests it should be.
If TMX price action post TGE ends up tracking the yield vault crowd more than the degen leverage crowd everyone's talking about. Which group actually shows up first when the token unlocks?
I went in expecting to write about leverage mechanics. Ended up staring at that wallet count instead.
the thing that actually stuck, most of that TVL isn't leverage traders at all. It's lenders and vault depositors quietly earning fixed yield while the zero liquidation leverage story gets all the marketing air.
Checked DefiLlama mid task, saw active loans around $29M against total TVL near $34M on the chain I was looking at… so the borrow side is real but thinner than the deposit side suggests it should be.
If TMX price action post TGE ends up tracking the yield vault crowd more than the degen leverage crowd everyone's talking about. Which group actually shows up first when the token unlocks?