YZi Labs has joined the investor group backing TermMax, a fixed-rate lending protocol developed by Term Structure Labs, as the company advances its on-chain bond market infrastructure. The strategic investment was announced on August 27, 2026, though financial terms were not disclosed. TermMax was selected for YZi Labs' EASY Residency Season 3 program.
TermMax has raised more than $8 million to date, with earlier seed funding led by Cumberland DRW in 2023. Other backers include HashKey Capital, Decima Fund, Longling Capital, and MZ Web3 Fund. The protocol launched its mainnet in April 2025 and operates across 10 EVM-compatible chains, managing 60 fixed-rate markets and 40 strategy vaults. Total value locked exceeds tens of millions of dollars, with more than 1.5 million registered wallets.
The $TMX token completed its Token Generation Event on August 25, 2026, and the protocol holds a DeFiSafety Process Quality Review score of 93%, matching Aave V3. Curators managing strategy vaults include Keyrock, Hardcore Labs, Edge Capital, and Origami.
TermMax has integrated with Ondo Global Markets to launch the first fixed-rate borrowing market accepting tokenized U.S. equities as collateral in January 2026. Additional integrations include Binance's bStock and a live deployment on Robinhood Chain in August, enabling QQQ, SPY, and NVDA to be posted against USDG. The company's TermPrime initiative completed its first live trade on the Canton Network in June, expanding its institutional counterparty network to nine firms.
YZi Labs manages over $10 billion in assets globally and has invested in more than 300 projects across 25 countries. Its portfolio includes Trust Wallet, CoinMarketCap, Polygon, Injective, Ethena, SafePal Wallet, Better Payment Network, Aster, and XAI. The firm operates the EASY Residency incubation program, which has supported more than 65 portfolio companies.
TermMax's co-founder and CEO, Jerry Li, previously served as a Managing Director at Deutsche Bank, overseeing fixed income and FX for Greater China with 25 years in global financial markets. Li highlighted the absence of observable interest rate curves on-chain as a key motivation for building the protocol, stating that the goal is to enable DeFi to mature into a professional-grade financial infrastructure.
YZi Labs previously noted that while tokenized blue-chip equities have reached meaningful volume, the financial application layer—including credit, collateral management, risk transfer, and structured products—remains underdeveloped, with options and risk-transfer products notably absent.
