I started looking at the $TMX TGE on August 25th from a different angle.
To me, this isn’t just another routine token listing. The truly interesting question is whether TermMax can convert the real activity of fixed-rate lending and options trading into sustained demand for $TMX.
1. The first signal
I value TermMax’s product direction a lot.
It centers on fixed-rate lending, not merely on relying on speculative upside. For users who need to manage capital and control risk, predictable interest rates themselves have real value.
That gives the protocol a more practical foundation.
2. The second signal
I’ll pay close attention to what happens to the protocol’s actual activity after incentives are reduced.
If users stay because they genuinely need a fixed-rate market and options—not just for incentives—then that’s more meaningful than growth driven by short-term campaigns.
My view is that user retention after the TGE will matter more than the level of attention on launch day.
3. Tokenomics
I won’t just look at $TMX’s headline allocation.
I care more about the actual circulating token supply on August 25th, who the token allocations go to, how much is initially unlocked, and whether early circulating supply is concentrated.
Larger allocations can drive demand, but they can also create short-term sell pressure.
4. The biggest contradiction
This is also why I’m staying cautious.
Users who receive tokens may also become sellers.
So my thesis only holds if the real growth in protocol usage outpaces the sell pressure caused by incentives.
After August 25th, I’ll focus on $TMX’s real demand, circulating supply, and user activity.
I think the real story may only begin after the TGE.$BNB
#termmax @TermMax
To me, this isn’t just another routine token listing. The truly interesting question is whether TermMax can convert the real activity of fixed-rate lending and options trading into sustained demand for $TMX.
1. The first signal
I value TermMax’s product direction a lot.
It centers on fixed-rate lending, not merely on relying on speculative upside. For users who need to manage capital and control risk, predictable interest rates themselves have real value.
That gives the protocol a more practical foundation.
2. The second signal
I’ll pay close attention to what happens to the protocol’s actual activity after incentives are reduced.
If users stay because they genuinely need a fixed-rate market and options—not just for incentives—then that’s more meaningful than growth driven by short-term campaigns.
My view is that user retention after the TGE will matter more than the level of attention on launch day.
3. Tokenomics
I won’t just look at $TMX’s headline allocation.
I care more about the actual circulating token supply on August 25th, who the token allocations go to, how much is initially unlocked, and whether early circulating supply is concentrated.
Larger allocations can drive demand, but they can also create short-term sell pressure.
4. The biggest contradiction
This is also why I’m staying cautious.
Users who receive tokens may also become sellers.
So my thesis only holds if the real growth in protocol usage outpaces the sell pressure caused by incentives.
After August 25th, I’ll focus on $TMX’s real demand, circulating supply, and user activity.
I think the real story may only begin after the TGE.$BNB
#termmax @TermMax
