#termmax @TermMax
I thought "utility token" just meant TermMax wanted TMX for the usual stuff staking, governance, checkboxes. Didn't think there was much to look into.
Then I opened the MiCA paper and the allocation table made me stop scrolling.
@TermMax says it clearly: no dividends, no profit share, no claim on the company. You're not holding TMX because you expect the team to make you money. Fair enough, I almost moved past that line without thinking twice.
Total supply is fixed at 1 billion TMX.
Protocol Distribution, which is basically the community's share, is 15%. No lock, available right at TGE. That part seems fine.
Seed Investors get 28%. One year locked, then it unlocks slowly over 24 months. That's more than what the community gets, just saying.
Team gets 15%, but locked for a year and then spread over 30 months. So slower than the investors who literally paid to be there. Not gonna lie, that's a weird order to me.
Then Treasury, Advisors, everything else on top and when you add it all up, around 80% of the whole supply belongs to people on the issuer's side, not the everyday holder.
I also thought the community share unlocking first meant it was the important part of the token. Turns out it's just the smallest piece with the fastest release. Took me a minute to actually notice that.
So here's the thing a token that keeps telling you it's not an investment still has investors, vesting, cliffs, all of it sitting right there in black and white.
One part of the paper tells you don't treat this like an investment. The other part reads like a vesting schedule wearing a different label.
So what's a normal holder actually supposed to be watching here the utility side, or everything that's still locked up and waiting to hit the market later?
#TermMax @TermMax $TMX
$PEOPLE $AAVE
I thought "utility token" just meant TermMax wanted TMX for the usual stuff staking, governance, checkboxes. Didn't think there was much to look into.
Then I opened the MiCA paper and the allocation table made me stop scrolling.
@TermMax says it clearly: no dividends, no profit share, no claim on the company. You're not holding TMX because you expect the team to make you money. Fair enough, I almost moved past that line without thinking twice.
Total supply is fixed at 1 billion TMX.
Protocol Distribution, which is basically the community's share, is 15%. No lock, available right at TGE. That part seems fine.
Seed Investors get 28%. One year locked, then it unlocks slowly over 24 months. That's more than what the community gets, just saying.
Team gets 15%, but locked for a year and then spread over 30 months. So slower than the investors who literally paid to be there. Not gonna lie, that's a weird order to me.
Then Treasury, Advisors, everything else on top and when you add it all up, around 80% of the whole supply belongs to people on the issuer's side, not the everyday holder.
I also thought the community share unlocking first meant it was the important part of the token. Turns out it's just the smallest piece with the fastest release. Took me a minute to actually notice that.
So here's the thing a token that keeps telling you it's not an investment still has investors, vesting, cliffs, all of it sitting right there in black and white.
One part of the paper tells you don't treat this like an investment. The other part reads like a vesting schedule wearing a different label.
So what's a normal holder actually supposed to be watching here the utility side, or everything that's still locked up and waiting to hit the market later?
#TermMax @TermMax $TMX
$PEOPLE $AAVE