#termmax @TermMax One thing I did be careful about with TermMax before the TGE is treating every big number as proof of product-market fit.
Users / wallets / TVL & daily activity are useful signals.
But they donot answer the harder question:
How much of that activity is economically durable?
That is where I find TermMax more interesting to examine.
The protocol has already gone through a period where users could interact with its lending markets, vaults & range-order mechanics without having to rely on the token itself as the main attraction.
That gives us something useful to observe.
Not just how many wallets arrived, but what people actually did with the infrastructure.
Capital was supplied. Positions were opened. Markets were created. Curator activity happened.
& the project also came into the TGE with institutional backing rather than starting from zero.
Still I wouldnot treat any of that as a guarantee.
A strong pre-TGE footprint can show that there is demand.
It doesnot automatically show that the same demand survives a change in incentives market conditions or token economics.
So my real checklist for $TMX is pretty simple:
Does capital stay?
Do users return?
Do markets remain useful?
If the answer is yes after the TGE excitement settles then the earlier activity becomes much more meaningful.
That is the signal I care about more than the launch-day numbers.
Do you usually get hyped for TGEs, or do you wait to see how protocols perform after the initial launch dust settles?
Users / wallets / TVL & daily activity are useful signals.
But they donot answer the harder question:
How much of that activity is economically durable?
That is where I find TermMax more interesting to examine.
The protocol has already gone through a period where users could interact with its lending markets, vaults & range-order mechanics without having to rely on the token itself as the main attraction.
That gives us something useful to observe.
Not just how many wallets arrived, but what people actually did with the infrastructure.
Capital was supplied. Positions were opened. Markets were created. Curator activity happened.
& the project also came into the TGE with institutional backing rather than starting from zero.
Still I wouldnot treat any of that as a guarantee.
A strong pre-TGE footprint can show that there is demand.
It doesnot automatically show that the same demand survives a change in incentives market conditions or token economics.
So my real checklist for $TMX is pretty simple:
Does capital stay?
Do users return?
Do markets remain useful?
If the answer is yes after the TGE excitement settles then the earlier activity becomes much more meaningful.
That is the signal I care about more than the launch-day numbers.
Do you usually get hyped for TGEs, or do you wait to see how protocols perform after the initial launch dust settles?