YZi Labs Backs TermMax to Drive On-Chain Bond Market Infrastructure

Singapore-based TermMax has secured a strategic investment from YZi Labs to advance on-chain bond market infrastructure. The fixed-rate lending protocol, built by Term Structure Labs, received the investment after being selected for YZi Labs' EASY Residency Season 3.

TermMax has raised over $8 million to date and has been live on mainnet since April 2025. The protocol runs across 10 EVM-compatible chains, with 60 fixed-rate markets, 40 strategy vaults, tens of millions of dollars in total value locked, and more than 1.5 million registered wallets.

YZi Labs' investment aims to fill the gap in financial application layer development around tokenized blue-chip equities. The investor's public position highlights the need for credit, collateral management, risk transfer, and structured products in this space.

Jerry Li, Co-founder and CEO of TermMax, stated that the goal is not to teach traditional institutions about DeFi but to let DeFi grow into something professional enough to serve finance. The protocol splits debt into three tradable tokens: FT (principal), XT (interest and option value), and GT (an ERC-721 receipt for leveraged positions).