I’ve been watching @TermMax because the idea is more interesting to me than the token narrative: fixed-rate borrowing and lending that turns future cash flows into tradable FT/XT positions, with a custom AMM setting rates instead of relying on simple spot pricing. That matters because predictable funding costs are useful beyond speculation.
What makes me cautious is TMX itself. Supply is fixed at 1B, with 20% initially planned for circulation. The allocation is 29% ecosystem, 28% investors, 15% team, 15% community, 5% liquidity, 5% foundation and 3% advisors, with major insider/investor vesting stretching 24–30 months.
Today, TermMax reports $90M+ TVL, 1.5M+ registered wallets, 90K+ DAU across 10 EVM chains, while the USDC vault alone shows about $5.8M TVL. V2 has added unified cross-chain orders and flexible AMM curves.
TMX TGE is set for August 25. Before that, there is no meaningful public spot market to judge price discovery; CoinGecko still labels it “Preview Only.”
My view: the product has real utility, but I’ll trust retention, recurring borrow/lend volume, and post-incentive TVL more than wallet counts. The evidence that changes my mind is sustained usage after TMX rewards become sellable.
@TermMax #TermMax
What makes me cautious is TMX itself. Supply is fixed at 1B, with 20% initially planned for circulation. The allocation is 29% ecosystem, 28% investors, 15% team, 15% community, 5% liquidity, 5% foundation and 3% advisors, with major insider/investor vesting stretching 24–30 months.
Today, TermMax reports $90M+ TVL, 1.5M+ registered wallets, 90K+ DAU across 10 EVM chains, while the USDC vault alone shows about $5.8M TVL. V2 has added unified cross-chain orders and flexible AMM curves.
TMX TGE is set for August 25. Before that, there is no meaningful public spot market to judge price discovery; CoinGecko still labels it “Preview Only.”
My view: the product has real utility, but I’ll trust retention, recurring borrow/lend volume, and post-incentive TVL more than wallet counts. The evidence that changes my mind is sustained usage after TMX rewards become sellable.
@TermMax #TermMax