YZi Labs Invests in TermMax to Enhance On-Chain Bond Market Infrastructure

On August 26, 2026, TermMax, a fixed-rate lending protocol developed by Term Structure Labs, announced a strategic investment from YZi Labs. Although the terms of the investment were not disclosed, this funding is part of YZi Labs’ EASY Residency Season 3, and TermMax has raised over $8 million to date.

Since its launch on mainnet in April 2025, TermMax has expanded across 10 EVM-compatible chains, establishing 60 fixed-rate markets and 40 strategy vaults, with tens of millions of dollars in total value locked and over 1.5 million registered wallets. The protocol's governance is supported by curators such as Keyrock, Hardcore Labs, Edge Capital, and Origami.

The recent investment aligns with YZi Labs’ vision to fill gaps in the financial application layer surrounding tokenized blue-chip equities, which have seen significant growth but lack adequate infrastructure for credit, collateral management, and risk transfer products. Jerry Li, Co-founder and CEO of TermMax, highlighted the absence of an observable interest rate curve for on-chain assets, a situation he aims to rectify with this infrastructure.

TermMax has already integrated Ondo Global Markets to launch the first fixed-rate borrowing market accepting tokenized U.S. equities as collateral and has recently gone live on Robinhood Chain. The protocol also plans to introduce physical delivery options to enhance trading in tokenized equities, addressing the volatility issues associated with perpetual futures.

In addition to its lending services, TermMax is expanding its institutional offerings through TermPrime, which has established a network of nine institutions on the Canton Network. The protocol has achieved a DeFiSafety Process Quality Review score of 93%, comparable to Aave V3.

TermMax aims to redefine its role in the DeFi landscape, aspiring to become the on-chain interest rate curve rather than merely another lending platform.