#termmax @TermMax
What is TermMax’s fixed-rate tokenization mechanism? Its core draws on the traditional finance zero-coupon bond model. Through a three-token architecture (FT fixed-rate token, XT value-balancing token, GT leveraged position token), it fully tokenizes complex fixed-rate borrowing and leveraged positions.
FT’s core function is as a zero-coupon bond instrument, representing a debt token that can be redeemed 1:1 for one unit of the underlying at maturity.
XT is mainly used to maintain the face-value parity relationship between the debt token and the FX token.
GT is a single NFT as a proof on the lending/borrowing position chain. It records the collateral deposited and the total amount of FT debt minted.
On the borrowing side, borrowers deposit collateral into the protocol, generate GT representing the position, and then mint the corresponding amount of FT.
On the lending side, lenders buy FT at a discount. On the day of maturity, the lender redeems the FT into the debt token at a 1:1 face value, thereby achieving a fixed interest return.
The key advantage is yield certainty: lenders holding FT, similar to zero-coupon bonds, can avoid the risk of floating-rate volatility. Borrowers, meanwhile, can dynamically choose their repayment method based on secondary market conditions, reducing the overall loan cost.
What is TermMax’s fixed-rate tokenization mechanism? Its core draws on the traditional finance zero-coupon bond model. Through a three-token architecture (FT fixed-rate token, XT value-balancing token, GT leveraged position token), it fully tokenizes complex fixed-rate borrowing and leveraged positions.
FT’s core function is as a zero-coupon bond instrument, representing a debt token that can be redeemed 1:1 for one unit of the underlying at maturity.
XT is mainly used to maintain the face-value parity relationship between the debt token and the FX token.
GT is a single NFT as a proof on the lending/borrowing position chain. It records the collateral deposited and the total amount of FT debt minted.
On the borrowing side, borrowers deposit collateral into the protocol, generate GT representing the position, and then mint the corresponding amount of FT.
On the lending side, lenders buy FT at a discount. On the day of maturity, the lender redeems the FT into the debt token at a 1:1 face value, thereby achieving a fixed interest return.
The key advantage is yield certainty: lenders holding FT, similar to zero-coupon bonds, can avoid the risk of floating-rate volatility. Borrowers, meanwhile, can dynamically choose their repayment method based on secondary market conditions, reducing the overall loan cost.