TMX Token Pre-mine

The TMX Token Pre-mine is designed to incentivize early participation and reward users engaging with our platform, aligning with our mission to revolutionize fixed-income strategies in DeFi through innovative features like one-click looping, range orders, and fixed-rate products.

This document provides information about the TMX Token Pre-mine, including its purpose, structure, and participation details.

Overview

The TMX Token Pre-mine will commence on Day 1 of the TermMax Mainnet launch. The pre-mine serves as an incentive mechanism for early adopters, rewarding their participation in the TermMax ecosystem through structured monthly campaigns.

TermMax will host campaigns with specific allocations of TMX tokens from time to time. These rewards will be distributed across all markets on the supported chain, ensuring broad participation opportunities for eligible users. During each campaign period, eligible users will continuously accumulate pre-mined TMX tokens, which can later be claimed soon after the Token Generation Event (TGE).

Pre-mine Structure and Token Distribution

The TMX Token Pre-mine will operate through monthly campaigns, each with a predefined allocation of TMX tokens. Below is the detailed structure of the pre-mine:

Total Allocation: A total of 1 billion $TMX tokens will be issued, with 4% (40 million $TMX) allocated to incentivizing early users through token pre-mine.
Monthly Campaigns: Each month, a new campaign will be launched with a specific amount of TMX allocated for distribution. The rewards will be distributed across all markets on the supported chain, ensuring equitable access for participants.
Eligibility: There are two types of users eligible to participate in the TMX Pre-mine:
- FT Holders: Users who hold Fixed-Rate Tokens (FT) by purchasing them through the Lend page or by depositing into Vaults in the Earn page.
- Order Makers: Contributors to matched orders, primarily Range Order Makers and Curators (with rewards for Curators distributed directly to Depositors of the corresponding Vault).
Reward Accumulation: During the campaign period, eligible users will continuously accumulate pre-mined TMX tokens:
- FT Holders will pre-mine TMX daily throughout the campaign based on their FT balance.
- Order Makers will earn TMX based on their trading volume of matched orders in the respective markets.
TMX APY: The TMX APY is calculated based on a $60 million Fully Diluted Valuation (FDV), following the valuation of our ongoing funding round.
- TMX APY in Lend Market: (USD value of TMX distributed to FT Holders in that market on the previous day) / (USD value of capital deposited in that market on the same day) * 100% * days in a year
- TMX APY in Earn Vault: (USD value of TMX distributed to FT Holders of the vault on the previous day) / (USD value of capital deposited in that vault on the same day) * 100% * days in a year
Token Claiming: Pre-mined TMX tokens will be non-transferable during the campaign period and can be claimed at a 1:1 ratio soon after the Token Generation Event (TGE), with no vesting schedule.
Information about how Term Structure protocol points (Kudos) will transition to TermMax’s reward system, including points or pre-mining tokens, will be provided in a future announcement.

Disclaimer

TermMax reserves the right to adjust the campaign or terminate it prematurely if it is deemed ineffective at our sole discretion. We may modify the campaign's structure, reward distribution, or eligibility criteria to ensure the program's success and alignment with our ecosystem goals.

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Overview

Pre-mine Structure and Token Distribution

The TMX Token Pre-mine will operate through monthly campaigns, each with a predefined allocation of TMX tokens. Below is the detailed structure of the pre-mine:

Total Allocation: A total of 1 billion $TMX tokens will be issued, with 4% (40 million $TMX) allocated to incentivizing early users through token pre-mine.

Monthly Campaigns: Each month, a new campaign will be launched with a specific amount of TMX allocated for distribution. The rewards will be distributed across all markets on the supported chain, ensuring equitable access for participants.

Eligibility: There are two types of users eligible to participate in the TMX Pre-mine:

FT Holders: Users who hold Fixed-Rate Tokens (FT) by purchasing them through the Lend page or by depositing into Vaults in the Earn page.
Order Makers: Contributors to matched orders, primarily Range Order Makers and Curators (with rewards for Curators distributed directly to Depositors of the corresponding Vault).

Reward Accumulation: During the campaign period, eligible users will continuously accumulate pre-mined TMX tokens:

FT Holders will pre-mine TMX daily throughout the campaign based on their FT balance.
Order Makers will earn TMX based on their trading volume of matched orders in the respective markets.

TMX APY: The TMX APY is calculated based on a $60 million Fully Diluted Valuation (FDV), following the valuation of our ongoing funding round.

TMX APY in Lend Market: (USD value of TMX distributed to FT Holders in that market on the previous day) / (USD value of capital deposited in that market on the same day) * 100% * days in a year
TMX APY in Earn Vault: (USD value of TMX distributed to FT Holders of the vault on the previous day) / (USD value of capital deposited in that vault on the same day) * 100% * days in a year

Token Claiming: Pre-mined TMX tokens will be non-transferable during the campaign period and can be claimed at a 1:1 ratio soon after the Token Generation Event (TGE), with no vesting schedule.

Information about how Term Structure protocol points (Kudos) will transition to TermMax’s reward system, including points or pre-mining tokens, will be provided in a future announcement.