I kept coming back to one thing while looking through TermMax’s token schedule:
1B TMX sounds like a fixed and simple supply story. But only 200M is expected to be circulating at launch.
That made me look at the float instead of the headline max supply.
The part I find more interesting is how quickly that float can grow.
Investor unlocks alone could add around 11.67M TMX per month after the cliff. With team + advisor unlocks overlapping, the monthly flow could be around 17.67M.
That doesn’t automatically mean something is wrong. Scheduled unlocks are normal.
But the question I’d watch is different @TermMax :
Can actual protocol growth and demand keep up with the amount of TMX becoming liquid?
#termmax @TermMax
Because 150M TMX allocated to the team is already 75% of the initial 200M float. Team + investors together represent 430M TMX — more than 2× the day-one circulation.
And there’s another detail I wouldn’t ignore: the 110M disclosure difference between documents is equal to 11% of the maximum supply.
So for me, the important number isn’t just 1B TMX.
It’s how much becomes freely sellable, and when.
That’s what I’ll be watching with #TermMax @TermMax
$BTW $ETH
1B TMX sounds like a fixed and simple supply story. But only 200M is expected to be circulating at launch.
That made me look at the float instead of the headline max supply.
The part I find more interesting is how quickly that float can grow.
Investor unlocks alone could add around 11.67M TMX per month after the cliff. With team + advisor unlocks overlapping, the monthly flow could be around 17.67M.
That doesn’t automatically mean something is wrong. Scheduled unlocks are normal.
But the question I’d watch is different @TermMax :
Can actual protocol growth and demand keep up with the amount of TMX becoming liquid?
#termmax @TermMax
Because 150M TMX allocated to the team is already 75% of the initial 200M float. Team + investors together represent 430M TMX — more than 2× the day-one circulation.
And there’s another detail I wouldn’t ignore: the 110M disclosure difference between documents is equal to 11% of the maximum supply.
So for me, the important number isn’t just 1B TMX.
It’s how much becomes freely sellable, and when.
That’s what I’ll be watching with #TermMax @TermMax
$BTW $ETH
