Today I accidentally found out that 168 friends have joined @TermMaxFi through my link.

Thank you all for your trust. The TermMax project is one that I will focus on and join in 2026. I hope everyone can achieve good results.$BNB


Now let's talk about the latest progress of #TermMax👇

As a fixed-rate lending protocol, TermMax has been quite active during this time, especially with the incentivized activities for Binance wallets. In just a few days, we completed 50,000 Binance wallet sign-in events, and the popularity really exceeded my expectations.

Of course, objectively speaking, the current situation has its ups and downs. The TVL has retreated from the peak of $30 million in August 2025, and the protocol revenue in Q1 2026 is about $9,184, which is significantly lower compared to the peak of $577,000 in Q3 2025. But fortunately, the protocol has maintained positive profitability, and the fee structure is still relatively healthy, with protocol fees accounting for about 54.5%. This may give everyone a bit more confidence.

Then let's talk about the most practical ecology and activity progress. On January 29, it launched a new fixed-rate lending market for $HONEY on Berachain, using @InfraredFinance's $sIR as collateral—interestingly, users borrowing $HONEY can also earn 200%+ APR on their $sIR collateral, with liquidity guided by @OrigamiCryptoHQ. This kind of gameplay is worth a try.

On the technical side, there was a small incident recently—on January 31, the Leaderboard showed anomalies, which were later found to be caused by service interruptions from the third-party provider Render. However, the team reacted quickly, promptly issued an announcement to clarify that all on-chain data is secure, and the check-in records and rewards will be settled normally. Such response speed also reflects the team's sense of responsibility.

In addition, TermMax will participate in Consensus Hong Kong 2026 from February 9-11, specifically participating in three events: The Realized Summit of 499 DAO on February 9, Pharos RealFi Ecosystem Day on February 10 (with a demo presentation from 14:30 to 15:30), and a private lunch meeting called Cipher Dance on February 10-11. It is clear that the project party wants to take this opportunity to connect more builders and investors in the field of fixed-rate DeFi.

Let's also talk about the TMX token that everyone is concerned about. The total supply is 1 billion, of which 4% (i.e., 40 million) is used for early user incentives, with an FDV benchmark of $60 million (used to calculate APY). The TGE application was submitted in November 2025, and the specific date has not yet been announced.

The sources of the pre-mined rewards are also quite clear, mainly three types: position rewards (obtained through lending, gold storage deposits, and range order making), referral rewards (5%-10% tiered rewards based on the number of active users referred), and the upcoming mental share rewards (sharing TermMax-related content can earn rewards). The calculation method for rewards is not complicated; TMX APY equals the dollar value of TMX allocated to the market's FT holders from the previous day, divided by the dollar value of the capital deposited in the market on the same day, multiplied by 100% times the number of days in a year. After TGE, it can be claimed 1:1, with no lock-up.

Looking forward, the project's roadmap for 2026 is very clear: Q1 will launch App V2 (integrating order aggregators), Q2 will introduce smart liquidation, interest rate swaps, and RWA integration, and Q3-Q4 will focus on cross-chain liquidity and institutional-level products.

The positives are clear iterations, multi-chain layout (already supporting 4 chains including Ethereum), sufficient pre-mined incentives of 40 million, and an intention to connect with traditional finance.

However, risks also exist; TVL needs to recover growth, competition in the track is intensifying, and the other utilities of TMX besides governance still need to be clarified.

Overall, TermMax is at a critical stage of scale expansion, and the heat from the Binance event (259,000 tweet views) indicates market interest; in the short term, Consensus HK may serve as a catalyst, in the medium term, RWA integration may open new markets, and in the long term, it is expected to become a core participant in fixed-income DeFi.

For early participants, the current pre-mining activity offers a zero-cost opportunity to acquire TMX, and the design without lock-up also reduces participation risks. Everyone can closely monitor the release effect of App V2 at the end of Q1, as well as the specific progress of RWA integration in Q2.

If you haven't joined, you can check it out t.co/G2l9fJeH2e
#DYOR