The vault share system is one part of @TermMax that I think makes the depositor side easier to understand.
When someone deposits assets into a TermMax vault, they don’t just have a simple record saying how much they deposited. They receive vault shares that represent their proportional ownership of that vault.
The interesting part is that the value of those shares can change as the vault generates profits. If the curator’s strategy performs well, the value represented by each share increases. So the depositor’s position reflects the performance of the vault rather than simply staying tied to the original deposit amount.
TermMax uses the ERC-4626 tokenized vault standard for this structure, which gives the vault shares a defined framework for representing deposited assets.
I also like that the performance fees are already reflected in the share value, so the depositor doesn’t have to manually calculate or claim them.
For me, TermMax’s vault-share model makes the passive side of DeFi easier to follow. You provide the capital, receive a proportional claim through vault shares, and the value of that position changes with the vault’s performance. #TermMax
When someone deposits assets into a TermMax vault, they don’t just have a simple record saying how much they deposited. They receive vault shares that represent their proportional ownership of that vault.
The interesting part is that the value of those shares can change as the vault generates profits. If the curator’s strategy performs well, the value represented by each share increases. So the depositor’s position reflects the performance of the vault rather than simply staying tied to the original deposit amount.
TermMax uses the ERC-4626 tokenized vault standard for this structure, which gives the vault shares a defined framework for representing deposited assets.
I also like that the performance fees are already reflected in the share value, so the depositor doesn’t have to manually calculate or claim them.
For me, TermMax’s vault-share model makes the passive side of DeFi easier to follow. You provide the capital, receive a proportional claim through vault shares, and the value of that position changes with the vault’s performance. #TermMax
