The “1 billion TMX” headline sounds simple.
But the number I keep looking at is much smaller: the initial circulating supply.
According to TermMax’s token documentation, $TMX has a fixed maximum supply of 1 billion tokens, while the initial circulation is planned at around 200 million.
That changes the way I think about the tokenomics.
Maximum supply tells you how large the pie can eventually become.
Float tells you how much of that pie can actually interact with the market today.
Then comes the harder question: how quickly does that float expand?
Investors, team members and other long-term allocations unlock over time. None of that automatically means selling pressure — vesting is normal for crypto projects.
But it creates a simple equation I want to watch after TGE:
Does real protocol growth absorb new circulating supply faster than tokens become liquid?
If TermMax keeps growing its lending markets, Vault activity and user base, increasing supply can potentially be absorbed by genuine demand.
If demand doesn't grow fast enough, the same unlock schedule tells a very different story.
That's why I don't judge $TMX by “1B supply”.
I care much more about:
→ Initial float
→ Unlock velocity
→ Actual protocol usage
→ Staking/governance demand
→ And how much liquidity the market can realistically absorb
The headline is 1 billion.
The real story is what becomes liquid, when it becomes liquid, and who actually wants to buy it.
#termmax @TermMax
But the number I keep looking at is much smaller: the initial circulating supply.
According to TermMax’s token documentation, $TMX has a fixed maximum supply of 1 billion tokens, while the initial circulation is planned at around 200 million.
That changes the way I think about the tokenomics.
Maximum supply tells you how large the pie can eventually become.
Float tells you how much of that pie can actually interact with the market today.
Then comes the harder question: how quickly does that float expand?
Investors, team members and other long-term allocations unlock over time. None of that automatically means selling pressure — vesting is normal for crypto projects.
But it creates a simple equation I want to watch after TGE:
Does real protocol growth absorb new circulating supply faster than tokens become liquid?
If TermMax keeps growing its lending markets, Vault activity and user base, increasing supply can potentially be absorbed by genuine demand.
If demand doesn't grow fast enough, the same unlock schedule tells a very different story.
That's why I don't judge $TMX by “1B supply”.
I care much more about:
→ Initial float
→ Unlock velocity
→ Actual protocol usage
→ Staking/governance demand
→ And how much liquidity the market can realistically absorb
The headline is 1 billion.
The real story is what becomes liquid, when it becomes liquid, and who actually wants to buy it.
#termmax @TermMax