#termmax @TermMax That’s something worth remembering when looking at @TermMax.
In my Aug. 18 snapshot, USDT/TSLAon had only ~49 USDT on the Lend side, while Borrow demand was around 154K USDT. Several other bStocks markets showed a similar imbalance.
So what’s happening?
TermMax liquidity is spread across different assets, maturities, collateral and markets. A large protocol TVL doesn’t automatically mean deep liquidity in the specific market you want to enter.
That’s why I look at these two numbers differently:
TVL = how big the protocol is.
Market depth = how much you can actually execute.
For fixed-rate markets, the second one can matter much more when sizing a position.
Big protocol. Different story at market level.
#TermMax #DeFi #Crypto #Liquidity
In my Aug. 18 snapshot, USDT/TSLAon had only ~49 USDT on the Lend side, while Borrow demand was around 154K USDT. Several other bStocks markets showed a similar imbalance.
So what’s happening?
TermMax liquidity is spread across different assets, maturities, collateral and markets. A large protocol TVL doesn’t automatically mean deep liquidity in the specific market you want to enter.
That’s why I look at these two numbers differently:
TVL = how big the protocol is.
Market depth = how much you can actually execute.
For fixed-rate markets, the second one can matter much more when sizing a position.
Big protocol. Different story at market level.
#TermMax #DeFi #Crypto #Liquidity