There are still some people soaking in the floating pool, bearing borrowing rates of 4% or even higher, watching the market every day, afraid that the funding rate will suddenly spike.

On-chain clearly has cheaper, more certain fixed-rate options, but few actually use them.
TermMax's voting actually clearly stated the core issue — 40% of people are stuck because the term options are not diverse enough. But ultimately, it's still too much of a hassle to find money.
In the previous fixed-rate market, liquidity was all fragmented. Different maturities, different pools, different depths, each isolated.
If you want to borrow low-cost funds, you have to scan the entire market yourself, calculate durations, and piece together the path.
This isn't borrowing money; it's practically doing an actuary's job.
Because search costs are so high, many prefer to return to floating pools, even if it costs a bit more interest, just for peace of mind.
@TermMaxFi V2 directly solves this pain point this time.
Many see Order Aggregator and think it's just a small tool to save steps. Actually, its strength is in taking the job of finding the cheapest funds completely off your hands and letting the protocol handle it.
You just click Borrow, and while the front end looks calm, behind the scenes it instantly scans the entire market, including interval orders, limit orders, atomic swaps, and even liquidity withdrawn by others, all automatically included in the calculation.
What you finally get isn't just a simple order, but an optimized, best possible funding path.
You no longer need to find the money yourself; the protocol directly pulls out the most cost-effective part of the market for you.
That's why on the Base chain, using syrupUSDC as collateral, the cost locked in for a maturing date of May 31 is around 3.00%, and for June 30, around 3.55%.
Floating rates outside are still hovering between 4% and 5%, but with one transaction here, you can lock it all in.
The official phrase "Single collateral. Fixed rate. No surprises" sounds simple, but what truly supports this is the underlying automated system that helps you find the optimal solution.
By now, everyone in DeFi knows that users are never short of good strategies; what they lack is the ability to execute those strategies efficiently.
When the protocol can automatically get you the cheapest funds in the entire market, are you still willing to tolerate positions with fluctuating floating rates? Maybe it's time to change your approach?