The past few years, DeFi has been missing one thing: the yield curve.

Because there is no stable fixed-rate market, the entire industry has struggled to form a truly mature financial pricing system.
And the emergence of @TermMaxFi is actually filling this piece of the puzzle.
It has already built a complete architecture around the term market, fixed-rate lending, and leverage engine.
Many people may not realize what this means.
Without fixed rates, there is no real bond market; without a yield curve, there is no mature financial system.
Although there are many on-chain assets in the past, most of them were just speculative tools, and fixed-rate protocols are beginning to give assets a time dimension for the first time.
Funds can be priced for the future, yields can be locked in advance, and risks can be structured—these are the true signs of a mature financial system.
Many projects are still competing over TPS.
But what will truly determine the next stage of DeFi depth may be these seemingly unsexy fixed-income infrastructures.
@wallchain @TermMaxFi