The core asset splitting logic of TermMax: Why FT / XT / GT

In the design of TermMax, asset splitting is not intended to increase complexity but to address a fundamental long-standing issue in DeFi: funds with different risk preferences are forcibly placed into the same yield pool. @TermMaxFi chooses to structurally reconstruct the funding relationships. When users participate in the protocol, assets are no longer just "depositing or lending," but are broken down into various token forms with clear financial attributes, allowing yields, risks, and time to be independently priced.

The existence of FT, XT, and GT essentially represents the rights division of the same underlying asset across different dimensions. FT is closer to fixed income certificates in traditional finance; it represents a guaranteed return locked in for a set period, suitable for participants with lower risk tolerance and clear expectations for fund timing. Through FT, users know the potential return range at the time of entry, and this certainty itself holds intrinsic value in the crypto market.

XT bears the uncertainty brought by interest rate fluctuations. Its value fluctuates with market interest rates and is the core vehicle for pricing "time and interest rate changes" in TermMax. Participants willing to bear interest rate volatility can obtain higher potential returns through XT. This volatility does not stem from price speculation but from changes in the term structure itself. This shifts interest rate games back to more rational financial logic rather than emotion-driven short-term behaviors.

GT primarily carries leverage and amplification effects, representing the most asymmetric part of risk and reward in the entire system. It further amplifies the structures of the first two, providing high-risk-tolerance participants with more flexible participation options. Importantly, the risk of GT is confined within a clearly defined structural scope and does not spread infinitely to other parts of the system. This is a key reason why @TermMaxFi can offer leverage tools while maintaining overall stability.

Through the structured splitting of FT, XT, and GT, TermMax achieves an important transformation: risk is no longer a vague whole but is pre-defined and layered. Each participant clearly understands what they are承担 and what they are betting on. This makes the protocol operate closer to the real term interest rate market and encourages long-term capital participation. It is this meticulous dissection of risk and reward that constitutes the core competitiveness of TermMax, setting it apart from traditional DeFi lending protocols.

#TermMax #TermMaxFi