#termmax @TermMax A fixed rate doesn’t mean a fixed position.
That’s the part of @TermMax I find more interesting the more I look at it.
TermMax offers fixed borrowing and lending rates over specified terms. Its FT, XT and GT structure represents different parts of that mechanism, and FT can be traded before maturity.
So the rate can stay fixed while the position keeps moving closer to maturity.
That made me look at TermMax differently: what happens to FT liquidity as maturity approaches?
Range-order pricing adds another layer because market makers can configure pricing across selected ranges. The interesting test is whether enough depth exists around those changing time-to-maturity conditions for the market to function smoothly.
I don’t want to assume the answer from the design alone. The real behavior of liquidity, pricing and maturity is what I want to see.
@TermMax #TermMax
That’s the part of @TermMax I find more interesting the more I look at it.
TermMax offers fixed borrowing and lending rates over specified terms. Its FT, XT and GT structure represents different parts of that mechanism, and FT can be traded before maturity.
So the rate can stay fixed while the position keeps moving closer to maturity.
That made me look at TermMax differently: what happens to FT liquidity as maturity approaches?
Range-order pricing adds another layer because market makers can configure pricing across selected ranges. The interesting test is whether enough depth exists around those changing time-to-maturity conditions for the market to function smoothly.
I don’t want to assume the answer from the design alone. The real behavior of liquidity, pricing and maturity is what I want to see.
@TermMax #TermMax
