In the past, I thought on-chain innovation was focused on trading, but I am increasingly convinced that true long-term value may lie in credit structures.

So I will continue to watch @TermMaxFi because it discusses a more fundamental issue.
Can on-chain systems have their own maturity markets?
If the answer is yes, then fixed income protocols are not a niche segment but a foundational infrastructure layer.
One thing I like about it is that the narrative is not floating; fixed interest rates, capital efficiency, strategy productization—each layer points to real needs.
It's not about creating concepts for stories, but about building structures for needs.
Many projects are proving they can be faster; a few projects are proving the system can be more stable.
The latter are usually easier to withstand cycles.
That’s also why I am long-term optimistic about TermMax.
@wallchain #Ad #Affiliate @TermMaxFi