Yesterday I was checking TMX tokenomics, and honestly I was stuck on the 1B supply and unlocks.....

Then I startd looking at TermMax fees.

That part actually made me thnik a bit more.

For lending, the current fee rate is 2% of the lending APR, adjusted for the time left to maturity. So if I lend 1,000 USDC at 10% APR for a full year, the fee comes to about 2 USDC.

Borrowing works a little differently. The current borrowing fees rate is 3%, while the GT minting refernce rate is 6% for stablecoins and 3% for non-stablecoins.

Using the example from the docs, borrowing 1,000 USDC at 5% for 90 days comes to around 1.85 USDC in transaction fees.

The leverage part caught my attention more.

If I put in 1,000 USDC and use 4.8x leverage, the borrowed amount is 3,800 USDC. With a 0.1923% borrowing fee rate, that becomes about 7.31 USDC.

Nothing huge on one position....

But if activity scales, those small feess start becoming actual protocol revenue.

So now I am less interested in just the TMX supply chart. I want to see how much real borrowing, lending and leverage activity TermMax can generate.

@TermMax #TermMax