#termmax @TermMax If I could only choose 3 metrics to evaluate TermMax, I wouldn’t start with the token price.
I’d focus on TVL, borrowing volume, and protocol revenue.
TVL is the first number I look at, but a rising TVL doesn’t automatically mean a protocol is healthy. I want to know where the liquidity comes from, whether it stays in the protocol, and whether it is actually being used.
Next is borrowing volume. This is where real demand becomes visible. TermMax is built around fixed-rate lending, so what matters is whether users are actually borrowing and using the markets rather than simply depositing assets for incentives.
Finally, protocol revenue.
This is the metric that helps separate activity from sustainable value creation. If users, borrowing volume, and revenue are all growing together, that’s a much stronger signal than TVL growth alone.
For TermMax, I’m more interested in quality growth over time than one impressive number over a few days.
TVL tells me where the money is.
Borrowing volume tells me how that money is being used.
Revenue tells me whether the protocol is actually creating value.
Those are the 3 metrics I’ll be watching most closely for TermMax.