Lately, I can increasingly feel that DeFi is transitioning from a liquidity game to an era of capital management.

In the past, many protocols desperately competed for TVL, now they are starting to compete on who can improve capital efficiency.
@TermMaxFi's structure is very interesting, with fixed interest rate lending, one-click leverage, Curator Vault, plus multi-chain deployment, the entire product logic is clearly no longer just a simple lending protocol.
Especially the Vault mechanism, after users deposit funds, the capital will be automatically allocated by professional Curators to different fixed income markets for optimized configuration.
The fundamental barrier to entry in DeFi used to come from operational complexity—you had to find yields yourself, calculate interest rates, rebalance positions— but the emergence of Vaults is essentially professional strategy productization.
This is also the direction that institutions favor most, because truly large funds never chase daily market monitoring.
They pursue predictable, manageable, and scalable income systems.
@wallchain @TermMaxFi