The word “fixed” in TermMax easily knocks you off balance.
Because of it, you might think that in the market there is one ready-made bid that everyone can simply see.
But the market here is set up more interestingly.
In a single market, there may be more than one order—several, in fact. And each of them has its own conditions and its own pricing curve.
So it’s better to think like this:
first there’s a set of orders with different conditions, and only then does a specific transaction appear, where the bid is fixed for a certain period.
I like this distinction the most.
A fixed bid in TermMax isn’t a single shared number for all participants in the market.
It’s the result of which specific order the trade was executed with.
So I wouldn’t reassure myself just by the word “fixed.”
I would first look at what orders are actually standing in the market and what exactly they’re offering.
Because one market in TermMax isn’t one bid. And this detail, in my opinion, changes how you perceive the entire mechanism.
@TermMax #TermMax
Because of it, you might think that in the market there is one ready-made bid that everyone can simply see.
But the market here is set up more interestingly.
In a single market, there may be more than one order—several, in fact. And each of them has its own conditions and its own pricing curve.
So it’s better to think like this:
first there’s a set of orders with different conditions, and only then does a specific transaction appear, where the bid is fixed for a certain period.
I like this distinction the most.
A fixed bid in TermMax isn’t a single shared number for all participants in the market.
It’s the result of which specific order the trade was executed with.
So I wouldn’t reassure myself just by the word “fixed.”
I would first look at what orders are actually standing in the market and what exactly they’re offering.
Because one market in TermMax isn’t one bid. And this detail, in my opinion, changes how you perceive the entire mechanism.
@TermMax #TermMax
