TermMax, a fixed-rate lending protocol built by Term Structure Labs, announced that it has received a strategic investment from YZi Labs. The terms of the investment were not disclosed.
TermMax 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.
The protocol has been live on mainnet since April 2025 and operates across 10 EVM-compatible chains. It currently runs 60 fixed-rate markets, 40 strategy vaults, and has registered more than 1.5 million wallets. The TMX token completed its token generation event on August 25.
YZi Labs identified a gap in on-chain financial infrastructure in a recent statement, noting that while tokenized blue-chip equities have gained meaningful volume, the financial application layer around them—including credit, collateral management and structured products—remains underdeveloped.
TermMax has integrated with Ondo Global Markets and Binance's bStock to launch fixed-rate borrowing markets accepting tokenized U.S. equities as collateral. The protocol went live on Robinhood Chain in August, enabling users to borrow against QQQ, SPY and NVDA tokens.
The protocol uses physical delivery for collateral settlement rather than market sales. TermMax Alpha introduces physical delivery options with no liquidation before expiry, designed to address the liquidity constraints common in tokenized equity markets.
On the institutional side, TermPrime completed its first live trade on Canton Network at the end of June and has grown its counterparty network to nine institutions. TermMax holds a DeFiSafety Process Quality Review score of 93%.
