Fixed-rate lending protocol TermMax has received a strategic investment from YZi Labs, the firms announced on August 26. The amount was not disclosed. TermMax was selected for YZi Labs’ EASY Residency Season 3 and has raised over $8 million to date, with backers including Cumberland DRW, HashKey Capital, Decima Fund, Longling Capital, and MZ Web3 Fund. The protocol has been live since April 2025 across 10 EVM-compatible chains, with 60 fixed-rate markets, 40 strategy vaults, and over 1.5 million registered wallets. The $TMX token completed its TGE on August 25.
TermMax, a fixed-rate lending protocol built by Term Structure Labs, has received a strategic investment from YZi Labs. Terms were not disclosed.
The protocol was selected for YZi Labs’ EASY Residency Season 3 and has raised more than $8 million to date. Earlier backers include Cumberland DRW, HashKey Capital, Decima Fund, Longling Capital, and MZ Web3 Fund.
TermMax has been live on mainnet since April 2025, running across 10 EVM-compatible chains. It now features 60 fixed-rate markets, 40 strategy vaults, and over 1.5 million registered wallets.
YZi Labs stated that tokenized blue-chip equities have reached meaningful volume, but the financial application layer around them remains underdeveloped. The firm noted that options and other risk-transfer products are conspicuously absent.
“When I left banking, there were a few hundred billion dollars of assets sitting on-chain without a single directly observable interest rate curve between them. In traditional markets, that would be unheard of. That is what made me decide to build this infrastructure on-chain,” said Jerry Li, Co-founder and CEO of TermMax.
Tokenized equities are the fastest-growing asset class on-chain, now at $2.48 billion. Holder count increased 165% in 30 days.
TermMax integrated Ondo Global Markets in January 2026 to launch the first fixed-rate borrowing market accepting tokenized U.S. equities as collateral. It later added Binance’s bStock.
The protocol went live on Robinhood Chain in August. Users can post QQQ, SPY, and NVDA against USDG.
TermMax Alpha offers physical delivery options with no liquidation before expiry. The conversion price is fixed when the position is opened, and settlement occurs by physical delivery at expiry.
On the institutional side, TermPrime completed its first live trade on Canton Network at the end of June. Its counterparty network has since grown to nine institutions.
