#termmax I recently saw TermMax-related tasks on the Binance Square, so I took the time to learn about the project. Honestly, after using floating-rate lending in DeFi for a long time, it really gets tiring—the interest rate looks fine today, but if the market moves tomorrow, it could double overnight, and deposit returns are unstable. TermMax’s focus is fixed-rate, fixed-term borrowing/lending. When you enter, it locks in the interest rate and the maturity time. Before maturity, both the yield and the cost are basically known, and this kind of certainty is still relatively rare on-chain.
It achieves this through a token mechanism—for example, something similar to zero-coupon bonds with an FT. Lenders buy in at a discount, and redeem at face value at maturity, so the profit is locked in from the start. Borrowers can also lock their borrowing cost in advance, and there’s a one-click leverage feature so you don’t have to manually bounce between multiple protocols to loop operations. Idle funds can also automatically be routed to places like Aave and Morpho to keep earning yield, which results in a pretty high capital utilization rate. The Vault is managed by professional Curators—regular users just deposit and don’t need to keep watching it every day.
Currently it supports multiple chains, including BNB Chain, Ethereum, Arbitrum, and more. TVL has already exceeded $90 million, and the number of registered wallets is over 1.5 million. Recently, it also started accepting Ondo’s tokenized stocks as collateral, allowing users to borrow money without selling those assets—this feels like it’s moving toward the RWA direction. The TGE for the TMX token is set for August 25, with a fixed total supply of 1 billion and no inflation.
@TermMax I tried the Vault deposit and some simple borrowing operations myself—the interface is fairly clear, and the fixed-rate experience really is more comfortable than what I used with Aave before. Of course, there are still risks; you still need to evaluate the smart contract and the liquidation mechanism. Binance Wallet currently has a Booster campaign with a relatively low participation threshold. If you’re interested, you can check out the official documentation and the latest data. Personally, I think if they can get the fixed-rate side done well, on-chain capital planning will become much easier in the future.
It achieves this through a token mechanism—for example, something similar to zero-coupon bonds with an FT. Lenders buy in at a discount, and redeem at face value at maturity, so the profit is locked in from the start. Borrowers can also lock their borrowing cost in advance, and there’s a one-click leverage feature so you don’t have to manually bounce between multiple protocols to loop operations. Idle funds can also automatically be routed to places like Aave and Morpho to keep earning yield, which results in a pretty high capital utilization rate. The Vault is managed by professional Curators—regular users just deposit and don’t need to keep watching it every day.
Currently it supports multiple chains, including BNB Chain, Ethereum, Arbitrum, and more. TVL has already exceeded $90 million, and the number of registered wallets is over 1.5 million. Recently, it also started accepting Ondo’s tokenized stocks as collateral, allowing users to borrow money without selling those assets—this feels like it’s moving toward the RWA direction. The TGE for the TMX token is set for August 25, with a fixed total supply of 1 billion and no inflation.
@TermMax I tried the Vault deposit and some simple borrowing operations myself—the interface is fairly clear, and the fixed-rate experience really is more comfortable than what I used with Aave before. Of course, there are still risks; you still need to evaluate the smart contract and the liquidation mechanism. Binance Wallet currently has a Booster campaign with a relatively low participation threshold. If you’re interested, you can check out the official documentation and the latest data. Personally, I think if they can get the fixed-rate side done well, on-chain capital planning will become much easier in the future.
