I keep coming back to one number when looking at TermMax ($TMX) tokenomics: the circulating supply.

A 1 billion TMX max supply sounds straightforward, but only around 200 million TMX is expected to circulate initially.

That makes the headline max supply less interesting to me than the actual free float and how quickly that float expands.

Investor allocations alone suggest meaningful monthly vesting after the cliff. When teams and advisor unlocked overlap, the potential monthly supply entering the market becomes even more important.

That doesn’t automatically mean bearish. Scheduled unlocks are normal in crypto.

But the real question is:

Can protocol growth and demand keep pace with the increase in circulating TMX? 👀

I’ll be watching:

🔹 Circulating supply growth
🔹 Monthly unlock pressure
🔹 Staking and governance participation
🔹 Actual protocol usage
🔹 Whether new supply is absorbed by genuine demand

The 1B headline number tells only part of the story.

For me, tokenomics is ultimately about when supply becomes sellable—not just how much supply exists on paper.

What matters more to you when evaluating $TMX: max supply, circulating supply, or unlock schedule?

#TermMax #TMX #DeFi #Tokonomics #crypto
@TermMax