Kai熊猫

#币安神算子 is a lightweight investment tool launched by Binance. Shen Suan Zi lets you predict market trends to earn airdrops and coupons, with a low barrier to entry. Enjoy the experience, but always manage your risk.

🔥🔥🔥If you’re the destined one, let me share a small tip with everyone. After official confirmation, the match on Oct 2nd between China and Turkmenistan was canceled. However, the prediction market currently shows that this match is still open. In the end, if the match is canceled, Binance customer service will repurchase and recover all tickets at a price of 0.5 per lot. So as long as you can buy at below 0.5, you’re in profit. It’s not recommended to gamble. You can buy 100 lots, which is about $2–3. You can verify whether the message is true or false yourself.
Purchase path: Wallet ➡️ Prediction Market ➡️ Sports ➡️ Football ➡️ Matches ➡️ Find the China vs Turkmenistan match. Remember to buy tickets below 0.1. Don’t go be a fool.

Come and join

Why did $BTC surge so much? Should we chase it or not?
The reason is actually very simple: Trump met with executives from several crypto companies at the White House and publicly pushed the “Digital Asset Market Clarity Act.” The bill passed the House last July, but due to multiple controversies, it has been stuck in the Senate. The industry is optimistic that the Senate vote on September 18 may surpass the 60-vote threshold, and Trump is urging lawmakers to promote the legislation. In addition, the CFTC and SEC are also advancing their crypto regulatory agenda in parallel.
The bull market has arrived, and the lending market has also become hot. What is truly scary about many loans is not the yield spread, but that you have no idea what you are actually holding.

Research @TermMax : I don’t focus on the interest rate first; I care more about where the risk goes after the claim is split.
FT leans toward principal, while XT represents future interest. The two can be traded separately, so principal and yield are no longer tied together. Buying FT means checking whether it is worth holding to maturity; buying XT means betting on whether the interest value still has market liquidity. #termmax

When you see fixed-income products, don’t assume they are stable just because the interest calculation is fixed. Prices and liquidity can still go wrong, and the longer the maturity, the more the opportunity cost cannot be ignored.

XT also has time decay: the closer it gets to maturity, the lower its value, and it becomes worthless at maturity. If you treat it like an ordinary coin and chase gains or sell in panic, it is very easy to get burned.

Now, when I look at it, I prioritize three things: how the principal will be repaid, whether it can be exited smoothly in the middle, and whether liquidation can be withstood in extreme market conditions. Only after thinking through these can we talk about returns.
Structured products spread out risk, but many people understand only the surface structure and think they have seen all the risks. That is a very easy way to end up losing money.
Do you want the bill to pass?

#termmax Have you ever had this feeling—after getting immersed in DeFi for so long, you realize the things you can do start to look like you're just swapping the water in the same pool. Lending, staking, yield mining—you keep moving things around, but at the end of the day, the sources of returns are still those few. But recently, ever since the RWA concept started heating up, I've begun to seriously think about one question: can the money in the on-chain world and the money in the traditional world truly be connected for real?

@TermMax The recent work it’s been doing on BNB Chain caught my attention—it launched the first fixed-rate lending market that supports Ondo tokenized stocks as collateral. What does that mean? The Apple and Tesla tokenized stock you hold are no longer just “display items” you can only hold and wait for them to go up—you can use them as collateral to borrow USDT, with the interest rate locked and the term fixed. Borrow 10,000 USDT, with a 45-day term priced at 4%, and your total cost is about 49. It’s crystal clear the moment you open the position.

Honestly, this is bigger than I imagined. In the past, RWA on-chain was basically just window dressing—buy it, hold it, wait for it to appreciate. Now it’s different. Once fixed borrowing costs are locked in, it can truly be used for cash flow planning, like figuring out tolls in advance in the real world. DeFi is finally starting to move toward budgeting systems.

But I still have doubts. TermMax currently has TVL of over $90 million, more than 1.5 million registered wallets, and daily active users over 90,000. It’s deployed across 10 EVM chains. The data is definitely impressive. The problem is: tokenized stocks themselves tend to have lower volatility—but what about the collateral liquidity risk? In extreme market conditions, will Ondo’s RWA assets be discounted? With physical delivery, FT holders would receive stock tokens rather than stablecoins—how would those be handled then? @TermMax

Another thing worth mulling over is that TermMax is simultaneously forming two interest-rate curves—one from the public market, and one from the institutional market. On the Canton network, TermPrime has already run fixed-rate inter-institution lending tests: two institutions used CBTC as collateral to borrow Canton Coin. This makes me worry a bit—will ordinary retail users still have pricing power in the future? Or will interest rates increasingly be controlled by institutional players?

My view is that the direction of RWA + fixed-rate lending is right. It combines the certainty of traditional finance with the composability of DeFi.
How far do you think TermMax’s RWA + fixed-rate path can go?

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