TermMax and Binance Web3 Wallet Launch Sign In and Get Points Free Activity TermMax focuses on fixed rate lending, which is different from the floating rates of mainstream platforms such as AAVE. It allows borrowers to lock in interest rates from the beginning, thereby more accurately predicting borrowing costs and calculating in advance how much they will ultimately need to repay, avoiding potential risks of interest rate fluctuations. So fixed interest rates are very necessary for holders of medium - to long-term leverage, especially when combined with a cyclical strategy. If there is a drastic fluctuation in interest rates midway, even if the collateral itself does not fall, its health will decrease, and interest alone will accelerate the consumption of your principal. Therefore, institutional users prefer fixed interest rates, because they must calculate costs and risks clearly, and pay more attention to the predictability of returns. In the traditional financial field, fixed interest rates are mainly achieved through three ways, the simplest and the most direct way is to agree on fixed interest rate lending, followed by interest rate swaps to convert floating into fixed, and zero interest bonds like usurious beheading loans achieve fixed interest rates by deducting interest from loans in advance. Simply put, a zero interest bond is like borrowing 1000 yuan from you and promising to repay you after one year, but the actual money you give me is only 800 yuan. I must repay you 1000 yuan at that time, which is equivalent to deducting 200 yuan of interest from you at the beginning, thus completely locking in the interest rate. TermMax draws on zero interest bonds and combines smart contracts and AMM to tokenize the entire mechanism. @The fixed interest rate of TermMaxFi is implemented through two dedicated tokens that encapsulate lending and leverage logic. The essence of FT fixed rate tokens is equivalent to zero coupon bonds, which can be purchased at a discounted price and redeemed at face value upon maturity. After creating a loan, the system will mint FT tokens, and the borrower can sell FT to obtain the required funds. Lenders or liquidity providers can buy FT at a discounted price, such as buying a 1U face value FT at a price of 0.8 U. After maturity, holders of FT can redeem 1U in full to earn fixed income, but if the borrower fails to repay, liquidation will be triggered, and holders of FT will receive liquidation income or collateral. At present, the development of fixed interest rates in the entire Defi field is still in its early stages, but in the traditional financial field, it is already very mature and has a huge scale. TermMax is one of the few projects that does fixed interest rates in Crypto, which is worth paying attention to