In TermMax, both the Borrower and the Lender are looking at the same deal from opposite sides. But what exactly do they get?

Let’s imagine a simple market.
🔵 The Borrower has an asset as collateral, but wants to receive a different asset as a loan. In TermMax, they take out a loan at a fixed rate for a specific term up to maturity.
🟡 The Lender does the opposite: they provide an asset to the borrower and receive a fixed return over a defined period.

So one and the same deal creates two different economic positions:

Borrower → receives liquidity now → repays the loan under specified terms.
Lender → provides liquidity now → receives a payout under specified terms.

And what’s especially interesting is that TermMax doesn’t leave the rate to “float” with the market. The protocol is built around fixed-rate and fixed-term markets.
That’s why the Borrower effectively buys predictability of the cost of capital, while the Lender gets predictability of the conditions of their position up to maturity.

Then market makers, takers, and Range Orders come into play—they determine exactly how these two sides of the market meet.

If you had to choose one role in such a market—Borrower or Lender? And why?

@TermMax #TermMax