Buried in TermMax's docs: Curators earn through "Spread Capture" (profiting off rate differences across markets) and "Performance Fees" under what they call "Strict Supervision" — timelocked oversight on vault parameters. #TermMax
Institutional names running these vaults include MEV Capital, Keyrock, and Edge Capital among others. Their income model doesn't touch the points system at all it's spread and fees, generated whether or not a single retail wallet is farming XP that week. Depositors into their vaults do earn pre-mine/XP through the Curator's matched orders, but the Curator's own economics are already usage-based, revenue-based live today.
That's a genuinely different incentive structure sitting inside the same protocol as the check-in campaigns from Post 1. One side runs on real spread capture. The other runs on wallet taps.
If TermMax's long-term token value comes from Curator-generated protocol revenue, is the pre-TGE points race even measuring the thing that will matter in six months?
#termmax @TermMax
Institutional names running these vaults include MEV Capital, Keyrock, and Edge Capital among others. Their income model doesn't touch the points system at all it's spread and fees, generated whether or not a single retail wallet is farming XP that week. Depositors into their vaults do earn pre-mine/XP through the Curator's matched orders, but the Curator's own economics are already usage-based, revenue-based live today.
That's a genuinely different incentive structure sitting inside the same protocol as the check-in campaigns from Post 1. One side runs on real spread capture. The other runs on wallet taps.
If TermMax's long-term token value comes from Curator-generated protocol revenue, is the pre-TGE points race even measuring the thing that will matter in six months?
#termmax @TermMax
Real yield
0%
Pros > XP!
0%
Long term?
0%
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