@TermMax is a good reminder that multichain expansion looks very different once you follow the money.
The protocol is live across nine chains, but around $31.2M in TVL is still sitting almost entirely on Ethereum. Berachain, Arbitrum, BSquared and the others are there, but capital hasn’t really followed yet.
I don’t see that as a failure. Deploying on another chain is easy. Getting people to actually move their money there takes much more than a contract and an announcement.
What caught my attention is the revenue. TermMax generated just under $20K in fees over the last 30 days, which is a lot more meaningful to me than an inflated APY driven by emissions. There’s actual activity happening.
And with TMX not trading yet, the interesting part isn’t the token price. It’s whether @TermMax can turn those deployments into real liquidity over time.
Right now, Ethereum is carrying the protocol. The other chains are basically waiting for their turn.
That’s the part I’ll be watching. Not how many chains TermMax reaches, but how many actually start attracting serious capital.
#TermMax @TermMax
The protocol is live across nine chains, but around $31.2M in TVL is still sitting almost entirely on Ethereum. Berachain, Arbitrum, BSquared and the others are there, but capital hasn’t really followed yet.
I don’t see that as a failure. Deploying on another chain is easy. Getting people to actually move their money there takes much more than a contract and an announcement.
What caught my attention is the revenue. TermMax generated just under $20K in fees over the last 30 days, which is a lot more meaningful to me than an inflated APY driven by emissions. There’s actual activity happening.
And with TMX not trading yet, the interesting part isn’t the token price. It’s whether @TermMax can turn those deployments into real liquidity over time.
Right now, Ethereum is carrying the protocol. The other chains are basically waiting for their turn.
That’s the part I’ll be watching. Not how many chains TermMax reaches, but how many actually start attracting serious capital.
#TermMax @TermMax