YZi Labs Backs TermMax in Bid to Develop On-Chain Bond Market Infrastructure

Singapore-based YZi Labs has invested in TermMax, a fixed-rate lending protocol built by Term Structure Labs. The investment was announced on August 26 and comes after TermMax's selection for YZi Lab's EASY Residency Season 3.

TermMax has raised over $8 million to date, with earlier backers including Cumberland DRW, HashKey Capital, Decima Fund, Longling Capital, and MZ Web3 Fund. The protocol has been live on mainnet since April 2025 and now runs across 10 EVM-compatible chains.

YZi Labs' investment aims to address the underdevelopment of financial application layers around tokenized assets. Tokenized equities have reached significant volume, but options and other risk-transfer products remain scarce.

TermMax is working to fill this gap with physical delivery options, which eliminate liquidation before expiry. The protocol's design prioritizes no-liquidation principles, settling collateral by physical delivery rather than selling it into the market.