In the TermMax vault, it’s easy to check the balance of shares and think: if they haven’t increased, then there’s almost no movement.
But there’s a catch here.
In the vault, it’s not only the number of shares that matters, but also how much of the underlying asset backs each of them.
So the vault may be performing well, and yet on the balance you’ll still see the same shares.
What changes is not the number, but their weight.
That’s why I wouldn’t look at the position in TermMax like it’s a regular token counter.
If the vault generates profit, the value of one share increases. And that affects the entire position—even without any new units showing up on the balance.
For me, this is one of those details that’s easy to overlook if you’re used to evaluating everything only by quantity.
In TermMax, a vault share isn’t just an item on the balance. It’s a share of participation in the vault itself.
And I’d check its current value first of all.
@TermMax #TermMax
But there’s a catch here.
In the vault, it’s not only the number of shares that matters, but also how much of the underlying asset backs each of them.
So the vault may be performing well, and yet on the balance you’ll still see the same shares.
What changes is not the number, but their weight.
That’s why I wouldn’t look at the position in TermMax like it’s a regular token counter.
If the vault generates profit, the value of one share increases. And that affects the entire position—even without any new units showing up on the balance.
For me, this is one of those details that’s easy to overlook if you’re used to evaluating everything only by quantity.
In TermMax, a vault share isn’t just an item on the balance. It’s a share of participation in the vault itself.
And I’d check its current value first of all.
@TermMax #TermMax
