#termmax 8% of the fixed loan was right there on the page—I was definitely tempted. But when the order size reached 500,000, what I feared most was this: the first 50,000 gets to 8%, while the next 450,000 gets pushed all the way up to 11%. So what’s that “8%” upfront, really—how is it any different from the scheming boss lady who invites you in just to get you to eat?
So when I saw that TermMax V2 removed LP Tokens, I was relieved: finally, the people quoting can’t just run off.
Before, when funds were placed in the LP pool, everyone held LP shares of the entire pool. If a particular quote dragged behind, it was hard to later separate and break down the accounting for it on its own.
V2 switches to individual, independent Orders. Each Maker puts in their own money and sets their own interest rate. If 8% is listed too low, a big order can scoop it all up, and the inventory pressure then lands on that maker’s own Order. Whether that Order actually makes profit is also easier to calculate.
Since market makers are starting to take their quotes seriously, my habit of how I watch the market has to change too.
I’ll put the front-page interest rate aside. I’ll scale the amount up to the size I’m planning to place an order, and look at the final average interest rate. After the trade, I’ll come back and see how long it takes that Order to get replenished.
Honestly, 5%额度的8% is not really useful for a 500,000 position. 9% can fully fill everything—and in the end, it’s actually cheaper. That’s when I realized.
To do fixed income, it’s not hard to just post a low price. What’s scarce is money that gets hit by big orders and still continues to stand on the order book. TermMax V2 is turning a big pool into a market where multiple market makers each provide their own quotes and each take responsibility for their own.
In the TMX total supply, 5% is reserved for liquidity. Since each Order can be accounted for separately, this batch of coins should be rewarded more to the people who can eat big orders, stay posted for a long time, and replenish quickly after being swept.
I won’t just look at the 8% displayed on the front page—because when the subsidy stops, those “pretty” quotes will leave at the same time. But if the TMX you spend can be exchanged for steady成交 and fees, then tell me—where do you think there’s still room left for that token to keep getting bid up? DYOR!
@TermMax
$BTC
So when I saw that TermMax V2 removed LP Tokens, I was relieved: finally, the people quoting can’t just run off.
Before, when funds were placed in the LP pool, everyone held LP shares of the entire pool. If a particular quote dragged behind, it was hard to later separate and break down the accounting for it on its own.
V2 switches to individual, independent Orders. Each Maker puts in their own money and sets their own interest rate. If 8% is listed too low, a big order can scoop it all up, and the inventory pressure then lands on that maker’s own Order. Whether that Order actually makes profit is also easier to calculate.
Since market makers are starting to take their quotes seriously, my habit of how I watch the market has to change too.
I’ll put the front-page interest rate aside. I’ll scale the amount up to the size I’m planning to place an order, and look at the final average interest rate. After the trade, I’ll come back and see how long it takes that Order to get replenished.
Honestly, 5%额度的8% is not really useful for a 500,000 position. 9% can fully fill everything—and in the end, it’s actually cheaper. That’s when I realized.
To do fixed income, it’s not hard to just post a low price. What’s scarce is money that gets hit by big orders and still continues to stand on the order book. TermMax V2 is turning a big pool into a market where multiple market makers each provide their own quotes and each take responsibility for their own.
In the TMX total supply, 5% is reserved for liquidity. Since each Order can be accounted for separately, this batch of coins should be rewarded more to the people who can eat big orders, stay posted for a long time, and replenish quickly after being swept.
I won’t just look at the 8% displayed on the front page—because when the subsidy stops, those “pretty” quotes will leave at the same time. But if the TMX you spend can be exchanged for steady成交 and fees, then tell me—where do you think there’s still room left for that token to keep getting bid up? DYOR!
@TermMax
$BTC