Borrowed 1,530 USDC, but when it matures, you have to repay 1,600 USDC.
That 70-dollar difference is the actual borrowing cost.
Many protocols only give you a simple interest rate figure, @TermMaxFi directly breaks this cost into an asset called XT.
It will inevitably expire to zero, but precisely this point allows people to truly understand their fixed interest rate mechanics.
TermMax splits a fixed-term debt into three accounts:
GT is the borrower's NFT position, recording what you collateralized and how much you owe in total;
FT is the lender's maturity payout right, bought at a dis