@TermMax #termmx Noticed something while looking at how Notional Finance actually gets used versus how it's framed. Fixed-Rate DeFi, $NOTE, #NotionalFinance, @NotionalFinance sells itself on predictability, borrow at a locked rate, know your cost upfront, no more variable-rate anxiety. But scrolling through pool activity, most depositors aren't holding to maturity at all. They're rotating positions before expiry, chasing whichever fCash market has the best implied yield that week, which is functionally the same behavior as variable-rate farming, just with extra steps and a maturity date attached. The fixed rate is real, but it's priced in at entry and then treated like any other yield number to be optimized against, not held for stability. It made me wonder whether "predictability" here is a product feature or just a pricing mechanism that happens to attract short-term capital anyway. The people benefiting first look like the same sophisticated actors who'd thrive in a variable-rate pool, just with one more lever to pull. Mass adoption implies someone locking in a rate and forgetting about it. I didn't see much of that.