TermMax — Frequently Asked Questions

TermMax is a decentralized finance (DeFi) protocol that enables fixed-rate lending, borrowing, and one-click leverage across multiple blockchain networks. Unlike variable-rate protocols where your interest rate can change unpredictably, TermMax locks in a rate at the time of your transaction — giving you full transparency over your returns or costs.

The protocol is built on a zero-coupon bond model, where lenders deposit assets into vaults or lending pools and receive a fixed yield paid by borrowers. Borrowers post collateral and receive funds at a pre-agreed fixed rate for a defined term.

TermMax is a multi-chain protocol. Currently supported networks include:

• Ethereum — the primary chain for USDC, WETH, WBTC, and wstETH vaults
• Arbitrum One — low-fee Layer 2 for fast lending and borrowing
• BNB Chain — including Alpha trading and RWA token collateral markets
• Berachain — HONEY vaults with BGT reward integration
• Base — Coinbase's L2 network
• X Layer — OKX's ZK-based network
• B² Network — Bitcoin Layer 2
• Pharos — emerging chain support

You can switch between networks directly in the TermMax app using the network selector in the top navigation bar.

To use TermMax, you need a compatible Web3 wallet. Supported options include MetaMask, WalletConnect-compatible wallets, Coinbase Wallet, and most popular browser extension wallets.

Simply click "Connect Wallet" in the top-right corner of the app, select your preferred wallet provider, approve the connection request in your wallet, and you're ready to start lending, borrowing, or depositing into vaults.

Make sure your wallet is configured for the correct blockchain network before interacting with any markets on TermMax.

TermMax Earn vaults are curated liquidity pools managed by professional vault curators. When you deposit assets into a vault, your funds are allocated across multiple fixed-rate lending markets to generate yield from borrowers.

Key features of TermMax vaults include:

• Multiple yield sources — a single deposit earns from several underlying markets simultaneously
• Curator-managed allocation — expert curators (e.g. TermMax, Keyrock, Edge, Hardcore Labs) manage the risk/reward balance
• XP & reward points — depositing earns you XP points (up to 120x multiplier) and other protocol rewards
• Flexible capacity — vaults have defined capacity caps; deposit early to secure your position

Available vault assets include USDC, USDU, WETH, WBTC, wstETH, RLUSD, and more.

XP (Experience Points) are TermMax's protocol reward points distributed to active users. They represent your engagement and contribution to the ecosystem and may factor into future reward distributions or governance.

Ways to earn XP on TermMax:

• Vault deposits — earn up to 120x XP daily on qualifying vaults
• Lending & borrowing — interacting with fixed-rate markets earns AP (Activity Points)
• Alpha trading — earn 10x AP per trade on BNB Chain Alpha markets
• Dual Investment vaults — earn 60x AP daily
• Collecting badges — one-time XP rewards for completing specific actions on the platform

Track your XP balance and leaderboard position at leaderboard.termmax.ts.finance.

The HONEY Boost Yield Vault on Berachain is a special vault that allows HONEY stablecoin depositors to earn additional BGT (Berachain Governance Token) rewards on top of standard lending yield.

How it works:

• Deposit $HONEY into the HONEY Boost Yield Vault on TermMax
• Receive vault receipt tokens representing your share
• Stake those vault tokens on BeraHub to qualify for BGT emissions
• Earn BGT rewards on top of your fixed lending yield

This creates a dual-yield opportunity unique to the Berachain ecosystem, available exclusively through TermMax.

Borrowing on TermMax follows a fixed-rate, fixed-term model. Here's the process:

• Select your collateral — post accepted collateral tokens (e.g. WBTC, LBTC, sUSDe, PT tokens, RWA tokens)
• Choose your market — select the lending market and term duration that suits you
• Lock in your rate — agree to a fixed interest rate for the full term, so your cost never changes
• Receive funds — borrowed assets (USDC, WETH, WBTC, etc.) are sent to your wallet immediately
• Repay at maturity — repay principal plus fixed interest at the end of the term

Unlike variable-rate protocols, TermMax eliminates the risk of unexpected rate spikes — you know your repayment amount from day one.

The Leverage feature on TermMax lets you amplify your exposure to an asset with a single transaction — no manual looping required. It automates the process of depositing collateral, borrowing, swapping, and re-depositing in one click.

Key differences from standard borrowing:

• Automated looping — what would take 5–10 manual transactions is done in one
• Fixed-rate cost — your leverage cost is locked in, unlike perpetual funding rates
• No liquidation risk from rate fluctuations — your borrow rate cannot increase mid-term
• Defined term — leverage expires at a known date, giving you clarity on duration

TermMax leverage is ideal for DeFi users who want amplified yield on yield-bearing tokens (like PT tokens, wstETH, or sUSDe) without managing complex looping strategies manually.

TermMax accepts a wide range of collateral types across its supported networks. These include:

• Blue-chip crypto — WBTC, WETH, wstETH, cbBTC, weETH
• Pendle PT tokens — PT-sUSDe, PT-pUSDe, PT-tUSDe, PT-tETH, PT-DUSD, and many others
• RWA tokens — mF-ONE (Ondo Finance stock tokens), PAXG, XAUt (gold-backed), USPC
• Stablecoins & yield-bearing stables — sUSDe, mBASIS, mEDGE, RLP, yUSD, iUSD, siUSD
• Morpho vault tokens — gtusdcf, MC_USDCP, gtWETH, mhyETH
• Liquid staking tokens — ynETHx, pufETH, tETH, strETH, wstrBTC

Accepted collateral varies by market. Check the Borrow page on TermMax for up-to-date collateral options per network.

TermMax Alpha is a suite of structured DeFi products launched on BNB Chain. It introduces two key trading instruments:

• Long/Short (Call/Put) — trade directional exposure on crypto assets with liquidation-free leverage. You pay an upfront premium instead of facing margin calls. Earn 10x AP on every trade.
• Dual Investment — earn approximately 50% APY by providing liquidity to long/short buyers using Binance Alpha tokens or USDT. Earn 60x AP daily as a vault depositor.

Alpha products are designed for users who want options-like payoffs without the complexity of traditional options markets. TermMax handles the pricing and settlement mechanics transparently on-chain.

TermMax is developed by Term Structure, a team with institutional DeFi expertise. The protocol's smart contracts have undergone security audits, and the codebase follows best practices for DeFi protocol development.

Risk management measures on TermMax include:

• Collateral requirements — borrowers must over-collateralize their positions
• Vault capacity limits — caps prevent overexposure to any single market
• Professional curators — vault managers actively monitor and adjust allocations
• Fixed-rate design — eliminates oracle manipulation risk from variable rate models
• Term-based structure — all positions have defined maturities, reducing open-ended exposure

As with all DeFi protocols, users should do their own research and only deposit assets they can afford to lose. TermMax does not custody user funds — all assets remain in audited smart contracts.

On TermMax, all loans are fixed-term. If a borrower does not repay their loan by the maturity date, the protocol has mechanisms to handle this scenario:

• Collateral seizure — the borrower's posted collateral becomes claimable to cover the outstanding debt
• Vault protection — lenders and vault depositors are protected through the over-collateralization requirement
• No partial liquidation during term — unlike perpetual borrowing protocols, TermMax does not liquidate positions mid-term due to price movements (for fixed-term markets)

It is strongly recommended that borrowers plan their repayment before the term expires. You can repay early at any time to free up your collateral. Monitor your positions via the Dashboard on TermMax.

TermMax operates on a transparent fee model embedded in the fixed rates agreed at transaction time. There are no hidden variable fees or surprise charges mid-term.

General fee structure:

• Lending/Borrowing spread — the difference between lending APY and borrowing rate is the protocol's margin, visible at transaction time
• Vault management — curators may take a small performance or management fee, disclosed in vault details
• Gas fees — standard blockchain transaction fees paid to the network, not to TermMax

Because TermMax uses fixed rates, you can calculate your exact cost or yield before committing any funds. There are no late fees if you repay before maturity — you simply receive your collateral back.

TermMax currently operates in its Alpha phase without a publicly launched governance token. The protocol uses an XP and AP (Activity Points) reward system to recognize and incentivize early adopters and power users.

These points are tracked on the TermMax Leaderboard and may be relevant to any future token distribution or governance launch.

Users who participate in lending, borrowing, vault deposits, Alpha trading, and badge collection during the current phase are accumulating points that could be valuable in the future ecosystem of TermMax.

RWA Season on TermMax is a campaign that brings Real World Asset (RWA) tokens into the DeFi lending ecosystem. It focuses on tokenized stock and commodity collateral, primarily powered by Ondo Finance's stock tokens (mF-ONE, PAXG, XAUt, USPC).

How to participate:

• As a borrower — deposit Ondo stock tokens as collateral to borrow USDT on BNB Chain, earning XP rewards
• As a lender — deposit USDT into RWA-focused lending markets and earn yield from borrowers who use RWA collateral
• As a vault depositor — deposit into USDU RWA vault (AlphaPing curator) to gain exposure to RWA-backed loans

RWA Season positions TermMax at the forefront of bridging traditional finance assets with decentralized lending infrastructure.

The TermMax Dashboard is your central hub for monitoring and managing all your DeFi activity across the protocol. It provides a unified view of:

• Active lending positions — see your deposited assets, earned interest, and maturity dates
• Open borrow positions — track your collateral, outstanding debt, and when repayment is due
• Vault holdings — monitor your share in each vault and current APY
• Leverage positions — review your amplified exposure and associated costs
• XP & AP balance — track your earned reward points across all activity

The Dashboard is accessible at app.termmax.ts.finance/dashboard/positions after connecting your wallet. All positions across supported chains are visible in one place.