#termmax > After going through a few rounds of pin-penetration and liquidation, my thinking about lending has completely changed: floating interest rates look flexible, but no one can predict tomorrow’s borrowing cost, and positions can evaporate in a single pin. Lately I’ve been looking at fixed-rate lending. TermMax is one I’ve been keeping an eye on for a while—both lenders and borrowers can lock in a fixed interest rate and the maturity date, so repayment costs are calculated in advance. There’s also a one-click overview (Rollover), which lets you roll your position to the next maturity market, and even switch directly to Morpho’s floating-rate market. The data is speaking too: TermMax’s TVL has already surpassed $100 million. Among DeFi lending daily active addresses on Token Terminal, it ranks second only to Aave. It also covers 8 chains, including BNB Chain, Base, Arbitrum, and Berachain. The market has taught us one thing: deterministic returns that can be calculated in advance are worth far more than high-yield numbers based on guesswork. #TermMax @TermMax