I increasingly believe that the true competition in DeFi in the future is not yield but capital efficiency.

This is also why @TermMaxFi is worth paying attention to. It uses a fixed-term and fixed-interest rate mechanism to shift lending from the spot market to the term market, giving funds a clear time dimension.
In terms of product form, it looks very much like a on-chain term management system. Users are not just borrowing and lending, but managing future cash flows.
The value of this change lies in on-chain funds no longer solely pursuing short-term liquidity, but beginning to consider term matching and yield planning, which is closer to the logic of mature financial markets.
In terms of user experience, decision-making pressure decreases. You don't need to check interest rate fluctuations daily; you just arrange your positions according to your cycle, making the entire process more stable and more aligned with long-term user habits.
@wallchain #Ad #Affiliate @TermMaxFi @3look_io