Fixed-rate lending protocol TermMax has announced a strategic investment from YZi Labs, though the size of the deal was not disclosed. The protocol, developed under parent company Term Structure Labs, was also selected for Season 3 of YZi Labs’ EASY Residency incubation program. TermMax said it has raised more than $8 million to date, with previous backers including Cumberland DRW, which led its 2023 seed round, alongside HashKey Capital, Decima Fund, Longling Capital and MZ Web3 Fund. Since launching its mainnet in April 2025, the protocol has expanded to 10 EVM-compatible chains and now runs 60 fixed-rate markets and 40 strategy vaults. It reports total value locked in the tens of millions of dollars and more than 1.5 million registered wallets. TermMax structures fixed-rate lending by splitting debt into three tradable tokens: FT, described as zero-coupon bonds; XT, representing interest and option value; and GT, representing leveraged position certificates. Liquidation is handled through physical settlement. Its token, TMX, completed its token generation event on Aug. 25 and began trading the same day on Binance Alpha, Kraken, Bitget, MEXC and KuCoin. The team said its next focus areas include on-chain yield curves, rate and options markets for tokenized equities, and an institutional financing platform called TermPrime.
Fixed-rate lending protocol TermMax, whose parent company is Term Structure Labs, said it has received a strategic investment from YZi Labs. The amount was not disclosed.
TermMax was also selected for Season 3 of YZi Labs’ EASY Residency incubation program. The protocol said it has raised more than $8 million in total so far. Earlier investors include Cumberland DRW, which led its 2023 seed round, as well as HashKey Capital, Decima Fund, Longling Capital and MZ Web3 Fund.
Since its mainnet launch in April 2025, TermMax has expanded across 10 EVM-compatible chains. It currently operates 60 fixed-rate markets and 40 strategy vaults, with total value locked in the tens of millions of dollars and more than 1.5 million registered wallets.
TermMax said it enables fixed-rate lending by splitting debt into three tradable tokens: FT, described as zero-coupon bonds; XT, which represents interest and option value; and GT, a certificate for leveraged positions. Liquidation is carried out through physical settlement.
The protocol’s token, $TMX, completed its token generation event on Aug. 25. It began trading on its first day on Binance Alpha, Kraken, Bitget, MEXC and KuCoin.
According to the project description, TermMax plans to focus next on three areas: on-chain yield curves, interest-rate and options markets for tokenized stocks, and an institutional financing platform called TermPrime.
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