78000u is what I earned in a small, overlooked market on TermMax—X Layer’s USD₮ single-asset lending market. The annualized yield is only 5.07%, and most people think it’s too low.
Research starting point: While looking into the chains supported by TermMax, I noticed X Layer. The market’s homepage says, "Single-asset, fixed APY of about 5.07%." 5.07% isn’t very attractive, but I paused and asked myself three questions. First, what does single-asset lending mean? Lending out and borrowing in are the same asset—no collateral price volatility, no liquidation risk. It’s a "cleanest possible fixed income." Second, what does it mean that the market is small? There are fewer competitors; the fee rates are ignored by more people, but the demand to borrow USD₮0 is real. Third, why don’t others do it? In a bull-market narrative, 5% has no presence; retail investors don’t care, and institutions find it bothersome.
After the research, my conclusion was: this is "certainty that was missed." I put about 1.5 million u of my stablecoin core holdings into it at an annualized 5.07%. Over a year, the principal plus the fixed interest. During the period, the rate once rose to 5.5%, and I counted the extra earnings too. The total profit was about 78,000u.
The process of this money was as calm as putting funds into a fixed-term deposit—no surprises, no fluctuations, and no moments that required staring at the screen. But it validated a belief: the intensity of competition for returns is inversely proportional to how much attention the market receives. The less people look at a corner, the higher the premium for certainty.
The purpose of research is to find those corners that "nobody is watching but can be calculated," then wait quietly.
@TermMax #TermMax
Research starting point: While looking into the chains supported by TermMax, I noticed X Layer. The market’s homepage says, "Single-asset, fixed APY of about 5.07%." 5.07% isn’t very attractive, but I paused and asked myself three questions. First, what does single-asset lending mean? Lending out and borrowing in are the same asset—no collateral price volatility, no liquidation risk. It’s a "cleanest possible fixed income." Second, what does it mean that the market is small? There are fewer competitors; the fee rates are ignored by more people, but the demand to borrow USD₮0 is real. Third, why don’t others do it? In a bull-market narrative, 5% has no presence; retail investors don’t care, and institutions find it bothersome.
After the research, my conclusion was: this is "certainty that was missed." I put about 1.5 million u of my stablecoin core holdings into it at an annualized 5.07%. Over a year, the principal plus the fixed interest. During the period, the rate once rose to 5.5%, and I counted the extra earnings too. The total profit was about 78,000u.
The process of this money was as calm as putting funds into a fixed-term deposit—no surprises, no fluctuations, and no moments that required staring at the screen. But it validated a belief: the intensity of competition for returns is inversely proportional to how much attention the market receives. The less people look at a corner, the higher the premium for certainty.
The purpose of research is to find those corners that "nobody is watching but can be calculated," then wait quietly.
@TermMax #TermMax