YZi Labs Backs TermMax to Bolster On-Chain Bond Market Infrastructure
TermMax, a fixed-rate lending protocol developed by Term Structure Labs, has secured a strategic investment from YZi Labs. The amount of the investment was not disclosed. This funding round follows TermMax's earlier backing from prominent investors such as Cumberland DRW and HashKey Capital, which led the 2023 seed round.
TermMax has been live on mainnet since April 2025 and operates across 10 EVM-compatible chains, featuring 60 fixed-rate markets, 40 strategy vaults, tens of millions of dollars in total value locked, and over 1.5 million registered wallets. Keyrock, Hardcore Labs, Edge Capital, and Origami serve as Curators, managing strategy vaults on the protocol.
The investment from YZi Labs aims to address a significant gap in the development of financial applications around tokenized blue-chip equities. According to YZi Labs' own public position, while tokenized equities have reached meaningful volume, the infrastructure for credit, collateral management, risk transfer, and structured products remains underdeveloped.
Jerry Li, Co-founder and CEO of TermMax, emphasized that the goal is not to teach traditional institutions about DeFi but to allow DeFi to grow into a professional enough space to genuinely serve finance. He cited his experience in global financial markets, including 25 years at Deutsche Bank, where he ran fixed income and FX for Greater China.