⚠️ Deprecated vault — historical reference only.
This vault has been deprecated and is no longer active on Neutral Trade. It is not accepting deposits and is not part of the current product line-up. Do not present this strategy as available or current. For live vaults and current data, see the active strategies and the API reference at https://www.neutral.trade/api/v1/docs.
With the TermMax Private Credit Vault, you can earn ~18%–27% APY on USDC while gaining exposure to the upside of a promising DeFi protocol — all through Neutral Trade’s first private credit product.
Still parking USDC in a lending protocol earning 3–4%? Or worse, letting it sit idle in your wallet?
This vault offers a smarter way to earn:
~18% APY on your USDC over ~4 months
Bonus upside through $TMX token exposure
TGE unlocks before VCs — you get in earlier
Short-term lock — funds are deployed and returned by mid-October 2025
Think of it as VC-style exposure with lower downside and passive returns — a rare combination in DeFi.
TermMax is a fixed-rate, fixed-maturity lending AMM protocol designed for professional traders and market makers in DeFi.
Custom Rate Curves: Makers post dynamic lending rates (forward curve style), improving capital efficiency.
ERC-4626 Vaults & One-Click Leverage: Power users can scale positions instantly, while passive users benefit from strategy-managed vaults.
TermMax is built by the team behind TermStructureFi, which recently raised $4.45M from top funds including:
@Cumberland
@HashKey_Capital
And other leading DeFi investors
Here’s how the ~18% APY is constructed:
Base Yield
~4%
From USDC vault on TermMax (variable, daily accrual)
TMX Airdrops
~6%
Daily incentives, unlocked at TGE, no vesting
Yield Backstop
~8%
TermMax tops up any shortfall to reach 18% total APY (in TMX)
Additional 6–9% APY in bonus $TMX for larger allocations
No cliff, linear vest over 6 months
Rewards claimed and managed on your behalf
TGE expected Q3–Q4 2025
Now → Day 7: Deposit window open
Day 8: Vault goes live, funds bridged to Ethereum
Month 4: Capital unlock + unwind phase begins
Post-TGE: $TMX token rewards distributed in USDC equivalent (pro-rata)
Deposit Window
Now → Day 7
Vault Activation
Day 8
Maturity & Withdrawal
Month 4 (October 2025)
TMX Distribution
After TGE (Q3–Q4 2025 expected)
Smart Contract Risk: TermMax contracts audited by Spearbit x Cantina
Yield Variability: Base APY + token rewards may fluctuate with market conditions
TGE Timing: Target is Q3–Q4 2025, subject to market shifts
Withdrawal Timing: Capital is actively deployed; unwinding may require time and coordination
Target FDV: $60M
Estimated Token Price: $0.06
Vault participants get exposure before VCs unlock
We charge a 20% commission on profits earned.
No upfront fees
Principal never touched
Fee is calculated on net gain
Deducted automatically at withdrawal
If you don’t earn, we don’t earn. Incentives are fully aligned.
APY
18%–27% (USDC + TMX exposure)
Lockup
~4 months
Token Exposure
$TMX airdrops + bonus pool
TGE
Expected Q3–Q4 2025
Risks
Smart contracts, token price, withdrawal coordination
Commission
20% on profit only
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