I used to assume fixed rates meant capital stays locked until maturity.
According to TermMax docs: FT (Fixed-rate Token) is a zero-coupon bond style token representing the right to redeem the face value of a debt position at maturity. Lenders buy FT at a discount and redeem at par. XT is the complementary component to FT, where 1 FT + 1 XT = 1 debt token. GT is an NFT that encapsulates a leveraged position, recording its associated collateral and debt information on-chain. Range Orders are a series of continuous orders configured by a range order setter or curator that define the AMM pricing curve within a Market. Curve Segments consist of APR Upper Bound and XT Lower Bound. FTs can also be traded on the market.
That made me look at it differently.
Time-to-maturity becomes part of the pricing through the range-order curves and the secondary FT market.
Whether secondary FT liquidity and range-order fills stay consistent under real market pressure is still an open question that only live flow will answer.
want to watch this in practice
How much do you think early FT tradability changes the fixed-rate equation?
#TermMax @TermMax
#ChinaJulyOutputRetailInvestmentAllMiss #cryptouniverseofficial #CMESeptemberHikeOddsFallTo30.6% #IranIsraelConflict
$BTC $SOL
$BNB
According to TermMax docs: FT (Fixed-rate Token) is a zero-coupon bond style token representing the right to redeem the face value of a debt position at maturity. Lenders buy FT at a discount and redeem at par. XT is the complementary component to FT, where 1 FT + 1 XT = 1 debt token. GT is an NFT that encapsulates a leveraged position, recording its associated collateral and debt information on-chain. Range Orders are a series of continuous orders configured by a range order setter or curator that define the AMM pricing curve within a Market. Curve Segments consist of APR Upper Bound and XT Lower Bound. FTs can also be traded on the market.
That made me look at it differently.
Time-to-maturity becomes part of the pricing through the range-order curves and the secondary FT market.
Whether secondary FT liquidity and range-order fills stay consistent under real market pressure is still an open question that only live flow will answer.
want to watch this in practice
How much do you think early FT tradability changes the fixed-rate equation?
#TermMax @TermMax
#ChinaJulyOutputRetailInvestmentAllMiss #cryptouniverseofficial #CMESeptemberHikeOddsFallTo30.6% #IranIsraelConflict
$BTC $SOL
$BNB
