YZi Labs Backs TermMax to Revolutionize On-Chain Bond Market

TermMax, a fixed-rate lending protocol built by Term Structure Labs, has secured a strategic investment from YZi Labs. The terms of the investment were not disclosed. This marks a significant milestone for TermMax, which has already raised over $8 million to date, with earlier backers including Cumberland DRW, HashKey Capital, Decima Fund, Longling Capital, and MZ Web3 Fund.

TermMax was selected as part of YZi Labs' EASY Residency Season 3. The protocol has been live on mainnet since April 2025 and operates across 10 EVM-compatible chains, with 60 fixed-rate markets and 40 strategy vaults. It boasts tens of millions of dollars in total value locked and over 1.5 million registered wallets.

According to YZi Labs' own public statements, the investment aims to address a gap in the development of financial application layers around tokenized assets. The company noted that while tokenized blue-chip equities have reached significant volume, credit, collateral management, risk transfer, and structured products remain underdeveloped.

Jerry Li, Co-founder and CEO of TermMax, emphasized the importance of building on-chain infrastructure for tokenized equities. He highlighted that nearly all of this year's tokenized-equity infrastructure has focused on perpetual futures, with little attention given to options. TermMax aims to change this with its physical delivery options, which cannot be knocked out by volatile trading in thin liquidity.