#termmax @TermMax
Usage vs TVL disconnect
Checked two numbers side by side and they didn't match the story I expected.
TermMax reports over 1.5M registered wallets and 90K+ daily active users across 10 EVM chains — but DefiLlama tracks its TVL at just ~$31M, ranking #36 among lending protocols.
Usually high wallet count with low TVL means airdrop farming, not real usage. But daily active users this high, sustained over months, isn't something farmers typically bother maintaining.
Is this genuine small-ticket usage at scale, or wallets optimizing for points with minimal capital at risk?
Usage vs TVL disconnect
Checked two numbers side by side and they didn't match the story I expected.
TermMax reports over 1.5M registered wallets and 90K+ daily active users across 10 EVM chains — but DefiLlama tracks its TVL at just ~$31M, ranking #36 among lending protocols.
Usually high wallet count with low TVL means airdrop farming, not real usage. But daily active users this high, sustained over months, isn't something farmers typically bother maintaining.
Is this genuine small-ticket usage at scale, or wallets optimizing for points with minimal capital at risk?