# berachain

Most people still don’t get what TermMax is really doing with these Pharos and Berachain moves.
While everyone’s farming points and chasing rankings, TermMax is straight-up killing the “fake death period” that kills every new chain launch. They’re doing something DeFi almost never touches: pricing and financializing liquidity before it’s even born.
Pharos locks capital early so networks have something to launch with. Smart fix for the “no rice in the pot” problem, but it turns your money into a tomb — zero yield, zero utility, just sitting there praying for an airdrop.
TermMax flips that. They