The market is completely panicking. The Middle East conflict has escalated directly, with the US and Israel striking high-level Iranian targets over the weekend, Iran's missile response also closed the Strait of Hormuz, macro PMI came in below expectations, BTC's rebound was weak and struggled to hold 66.5k, the entire market evaporated over 128 billion, the Fear & Greed index is at 13, indicating extreme fear.

At this moment, I took a close look at TermMax and Pendle and realized they are not even competitors. I initially thought they both dealt with maturities and yields, which seemed similar.

But Pendle is about splitting future yields for trading, with PT principal and YT yield, essentially betting on the direction of APY fluctuations; TermMax is completely different. It approaches from real lending relationships, with fixed interest rates and settlement at maturity, locking in financing costs in advance, building a true interest rate structure.

One plays volatility, the other offers certainty. When interest rates can be embedded into the structure rather than just traded, DeFi truly approaches the capital markets.

In this chaotic time, I increasingly feel that TermMax's approach is more appealing. The certainty of fixed interest rates is more reliable than all the hype.

This is just my personal observation, with no promotion intended. In this big shake-up, do you prefer to bet on yield fluctuations or lock in financing costs in advance? Be honest, tell me 👇.

#TermMax #Pendle #DeFi #RWA #FixedRate