TermMax airdrop will be checked this afternoon. Whether you’re a witch or not will be clear at a glance, and you can probably also work out how much you can claim and the value.
With a market cap of 180 million, total supply of 1 billion, 1% equals 1.8 million U. Previously, the booster already dropped 0.2%, so Alpha likely has 0.8% left. With per-user allocations of around 30+ U, that means it can be split into about 50,000 batches. My guess for the threshold is 200–220 points—no need to push too hard.
TermMax isn’t a small project. Earlier this year they went after RWA, and U.S. stock tokenized collateral lending attracted traffic. In March they partnered with Morpho, and TVL surged to 49 million. By late May with V2 and in July with Phase 4, 20 million RLUSD was snapped up in a single day. Now it has 1.5 million registered wallets, 90,000 daily active users, and TVL of 90 million—so in the lending track, it’s among the top players.
It’s also possible they only allocate 0.5%, in which case the threshold would be higher. But lending lives off TVL. They’ve just received funding from YZi Labs, so they definitely need to rely on a big platform to drive inflow. If the team isn’t foolish, they’ll most likely give enough for the full 1% Alpha allocation, and then pair it with a staked-deposit booster—win-win.
Many people understand TermMax as nothing more than a fixed-rate lending and borrowing platform, but in the whitepaper, the GT is actually a type of NFT-based leveraged token—encapsulating the entire leveraged position on-chain. What the collateral is and what the debt is are all recorded in this single NFT.
In traditional workflows, using leverage requires repeatedly cycling through “collateral → borrow → re-collateralize,” with every step burning gas and liquidation thresholds scattered everywhere. With TermMax, one transaction mints a GT and directly reaches the target leverage. This design turns the “leveraged position itself” into a composable asset. If later strategy vaults or institutional products want to package positions, GT is ready-made building blocks.
Another area worth paying attention to is XT’s second identity in the Alpha market—it’s similar to the existence of an option premium. In other words, besides supporting borrowing, this yield token can also be used as an option-like instrument.
Looking at the roadmap: Q2 covers options and derivatives expansion, strategy product vaults, and integration with money markets; after Q4, there are also interest rate swaps. What TermMax is aiming for may not be merely a lending protocol, but instead an underlying infrastructure for interest rate derivatives. The current peak in daily active users has already reached 170,000+.
I also looked closely at the allocation structure:
Community 15%, ecosystem 29%, investors 28%, team 15%, liquidity provision and the foundation at 5% each, advisors 3%.
I’m most concerned about the ecosystem portion—at nearly 30%, it’s the largest single share among all categories. The release schedule essentially determines the pace of the ammunition for later ecosystem expansion.
For cross-chain, it uses LayerZero’s OFT standard, and the future cost of connecting additional EVM chains is not high. On security, it has an ABDK audit with a public report, and a legal opinion letter clearly states that TMX does not constitute a security in major jurisdictions, so its compliance posture is fairly strong.
However, there are still risks to watch for:
GT is fundamentally a position with leverage—leveraging magnifies both gains and losses. Liquidations also rely on a dual-oracle system; in extreme market conditions, if the oracle deviates, pricing and liquidation can both go wrong.
My suggestion is: don’t just listen to the narrative—first track the real minting volume of GT positions and their liquidation records.
That’s exactly what I think is worth paying attention to with TermMaxFi.
AP is no longer a standalone reward layer—it’s tied to different behaviors. Daily participation builds habits, weekly challenges bring users into contact with Alpha, and trading activity puts the product itself into the loop.
The interesting part isn’t how many points you hand out.
It’s whether repeated incentives can create enough familiarity with the product that users eventually stop thinking about those points.
If that happens, this campaign does more valuable work than an airdrop.
Since TermMax Fi officially announced the TGE on August 25, the community atmosphere has really become more and more intense.
Every day I open the daily leaderboard, and the MP scores of the people in front just keep climbing—while my own AP slowly gets pulled a bit further away. Looks like everyone is making a final push, haha. Since things have gotten this competitive, why not pause for a moment and figure out what TermMax has actually been doing all the way through.
First, look at a few intuitive figures:
1. TVL exceeds $90 million 2. Registered wallets exceed 1.5 million 3. Daily active users exceed 90,000, with a peak above 170,000 4. Deployed to 10 EVM chains 5. Established partnerships with major protocols such as Morpho, Aave, Venus, Pendle, and more Beyond these numbers, what’s even more worth paying attention to is the real updates it’s made in the past few months. 5 月: App V2 officially launched It unifies multi-chain support, different markets, and orders into a single interface, and the user experience is noticeably smoother. 6 月: Fixed-rate strategies expanded to more assets bStocks launched on BNB Chain—users can participate in tokenized stock–related yield strategies. At the same time, TermPrime was officially introduced, starting to explore fixed-term financing for institutions. 7 月: Ecosystem and funding scale continue to grow Within two days, the RLUSD Vault attracted deposits exceeding $20 million, and unlocked 5 million TMX rewards for XP users. 8 月: Update cadence clearly accelerated • HyperEVM launches the HYPE options market • Robinhood Chain launches fixed-rate and fixed-term lending markets • On Base, AERO Put Vault adds passive yield functionality for idle USDC
Looking at the whole journey, you’ll find that TermMax has always been pushing forward around a single core:
Fixed rate + fixed term + more assets and more use cases. In traditional DeFi, most interest rates are floating. When the market is good, yields can be high, but the cost of capital and future returns are hard to determine in advance. What TermMax wants to solve is letting both borrowers and lenders lock in interest rate, term, and risk earlier. That’s also why it keeps expanding chains, assets, and user types.
Looking back, the TGE on August 25 feels more like a brand-new starting point. There’s still a bit of time left before the TGE, and everyone’s AP, XP, and MP are all charging like crazy 😂.
Nowadays, it's the era of AI quantification, which is more efficient, accurate, and stable than manual operations. It can trade non-stop 24 hours a day without missing any market opportunities. As long as the strategy is properly set and risk is well controlled, a steady monthly return is absolutely achievable 😍
Lu Ge advises those brothers who still want to buy the dip on $ZKJ $KOGE, and even those brothers who are directly long on contracts, are you all betting on a rebound for these two CS coins?
Lu Ge will analyze it for you with his thoughts:
1️⃣ I think many people are fantasizing that these two coins will rebound, but do the malicious project teams know this? Then why would they still want to pump the prices for you?
2️⃣ There are many people buying the dip now, and the traffic is high. The project teams can sell to you while simultaneously shorting, achieving a double harvest from both contracts and spot!
3️⃣ These two projects have already become notorious. Why would the project team still want to use them? Assuming they rebound, would you still dare to trade these tainted tokens? Why doesn’t the project team just launch a new project?
4️⃣ After experiencing this wave, Binance Alpha's trading volume should plummet, and there will be fewer people willing to take over. The project team has no obligation to pump the money earned from selling back to you.
《Binance is continuously lowering the returns of Alpha and also lowering user expectations》
The latest issue of $EDGEN has profits of less than 40U, which is already considered very low in previous Alpha projects. However, I found that Alpha's returns are actually continuously decreasing, from the initial 100-200U to now less than 100U and now to 30-40U.
The reason for the decrease in returns is quite simple. As Alpha projects gradually become popular, a large number of studios and people from outside the circle are joining in. Today might be the day when this batch of accounts is cashing out, which is why we have the epic score of 223 points.
It is clear that Binance has achieved its goal, seizing market share from other exchanges while promoting its own wallet. Moreover, it has successfully broken into new circles and attracted many users from outside the industry.
Binance does not care how much profit users make, as long as the game's income exceeds expenses, there will definitely be players. Binance aims to maximize profits with limited funds.
This time, Binance is essentially actively lowering user expectations; perhaps in the future, 30-40U will be the standard return, and 100U will be considered a big gain. The era of big gains for $NXPC will no longer exist.
I believe Binance will change the rules of the game in the future, converting these new users into real Binance users. After all, simply having studios inflate numbers does not mean much to Binance.
I suggest that everyone claim any airdrops they can, because you never know what tomorrow will bring. What you hold in your hands is the real profit!
There is a question, why have those worthless new coins been falling since they launched, yet there are still people buying them??? I don't understand.
Luna usual just appeared, and now there is another IP, relying on super high annualized interest rates to attract people, but in the end it will be a pipe dream!
However, this guy should be pulled for a while in the early stage, and you need to find the right time to go short.
The performance of this asset is really fierce, it skyrockets and crashes. I do not recommend entering the market; it seems to be specifically for contract speculation. From what I've seen, this coin is basically played by foreigners. In the end, it will inevitably go to zero.
This coin's performance is really impressive, it has forcefully risen from 0.15 to 0.45, it's amazing, truly wealthy, incredible, I don't know when it will start to drop.