@TermMax #TermMax Saw that TermMax added tokenized stock collateral to its fixed-rate markets, using Ondo's tokenized securities.
My first thought wasn't about the yield. It was: who is this actually for.
Because retail users, myself included, don't usually think about interest rate risk. I close a position if the rate gets bad. Simple. No paperwork, no explaining myself to anyone.
A fund can't do that as easily. If a treasury or a market maker borrows against inventory and the rate spikes mid-strategy, that's not a five minute fix. That's a call to explain to whoever they answer to.
That's the part that makes fixed rates make more sense for institutions than for people like me. Predictability isn't exciting. It's just easier to plan around, especially when someone else is asking you to justify the numbers later.
TermMax already has curators like MEV Capital and Keyrock running vaults there, which tells me this isn't just talk.
Still, I'd hold off calling it an institutional product yet. Most of the activity I've seen poking around the app still feels retail-driven, small positions, degen behavior. The infrastructure is built for bigger players. Whether they actually show up in volume is a different question.
Do you think on-chain fixed rates end up being an institutional tool, or mostly retail traders borrowing the label?
$RICE
$BTW
$VELVET
My first thought wasn't about the yield. It was: who is this actually for.
Because retail users, myself included, don't usually think about interest rate risk. I close a position if the rate gets bad. Simple. No paperwork, no explaining myself to anyone.
A fund can't do that as easily. If a treasury or a market maker borrows against inventory and the rate spikes mid-strategy, that's not a five minute fix. That's a call to explain to whoever they answer to.
That's the part that makes fixed rates make more sense for institutions than for people like me. Predictability isn't exciting. It's just easier to plan around, especially when someone else is asking you to justify the numbers later.
TermMax already has curators like MEV Capital and Keyrock running vaults there, which tells me this isn't just talk.
Still, I'd hold off calling it an institutional product yet. Most of the activity I've seen poking around the app still feels retail-driven, small positions, degen behavior. The infrastructure is built for bigger players. Whether they actually show up in volume is a different question.
Do you think on-chain fixed rates end up being an institutional tool, or mostly retail traders borrowing the label?
$RICE
$BTW
$VELVET