One part of @TermMax that i think is easy to underestimate is how much depends on getting asset valuation right.

The protocol needs current collateral values when making decisions around borrowing and liquidation. That means the lending mechanism itself isnt the only important piece. The price data feeding those decisions matters just as much.

I actually like that this dependency is visible in the architecture. It makes the risk easier to identify instead of pretending the protocol operates in isolation.

But it also creates a uncomfortable edge case.

If the underlying price information becomes inaccurate at exactly the wrong moment, the protocol can make a mechanically correct decision using an incorrect input.

So when evaluating TermMax, should oracle reliability be treated as part of the lending mechanism itself, or as a separate infrastructure risk?

I’d frame it as part of the risk model.
What do you think?

#TermMax