I used to think a fixed-rate loan was simply about locking one interest rate.
Then I looked closer at how @TermMax handles it, and the Fixed Rate Token (FT) made the idea click for me.
Instead of keeping the future repayment as part of a lending position, TermMax turns the fixed-rate claim into a token. You can buy an FT below its face value and, at maturity, redeem it for the full amount.
So the return is basically the gap between what you pay and what you receive.
That makes fixed-rate lending feel less like a number on a screen and more like an actual onchain asset.
#TermMax
Then I looked closer at how @TermMax handles it, and the Fixed Rate Token (FT) made the idea click for me.
Instead of keeping the future repayment as part of a lending position, TermMax turns the fixed-rate claim into a token. You can buy an FT below its face value and, at maturity, redeem it for the full amount.
So the return is basically the gap between what you pay and what you receive.
That makes fixed-rate lending feel less like a number on a screen and more like an actual onchain asset.
#TermMax
