TermMax and Renaiss Heat Up: How to Participate in These Two Projects Incubated by YZi Labs?
- Key Takeaway: Recently, the heat around YZi Labs-incubated projects TermMax and Renaiss has been rising. TermMax optimizes DeFi efficiency through a fixed-rate lending mechanism, with TVL exceeding $71 million; Renaiss focuses on the on-chain financialization of real-world collectible cards, with platform trading volume surpassing $15 million. Both offer early-stage interaction opportunities.
- Key Elements:
- TermMax adopts an AMM model similar to Uniswap V3, integrating lending, interest rate trading, and recursive leverage functions through tokenized fixed income and leverage, improving interest rate predictability.
- The TermMax V2 version has been launched, utilizing mechanisms like Composable Base Yield, Atomic Order, and Order Aggregator to solve issues of liquidity fragmentation and idle capital utilization, thereby enhancing capital efficiency.
- TermMax already supports networks such as Ethereum. In March 2026, it ranked second in daily active users among lending protocols on Token Terminal. It also combines fixed-rate lending with RWAs (e.g., Ondo tokenized stocks).
- Renaiss transforms real-world cards (e.g., Pokémon cards) into tradable and DeFi-capable assets through on-chain ownership certificates and third-party custody, addressing pain points in the collectibles market such as custody, verification, and liquidity.
- Renaiss recently launched the Magma Pack series (total 1000 units, sold out on the same day) and has previewed the Eden Pack series (containing over 100 top-tier cards). It also offers card pack opening interaction opportunities, with each pack priced at $48.
- Both projects are in their early stages. Users can participate in potential airdrop or reward opportunities through points activities (TermMax's Season 0) or purchasing card packs (Renaiss).
Original by Odaily Planet Daily (@OdailyChina)
Author: Asher (@Asher_0210)
In mid-May, YZi Labs announced the 25 graduating projects of Season 3 of its flagship incubation program, EASY Residency (for more details, read: EASY Residency Season 3 Graduation List: Which Sectors Did YZi Lab Target?). This round focuses on restructuring on-chain financial market structures, AI agents, tokenized real-world assets, prediction markets, and privacy compliance.
Most projects are still in very early stages, with limited public information and sparse community discussion. However, Odaily Planet Daily observed that two projects have recently seen a significant rise in attention: TermMax, which focuses on fixed-rate lending, and Renaiss, which centers on the financialization of real-world collectible card assets.
Below, Odaily Planet Daily will analyze TermMax and Renaiss from the perspectives of project positioning, product mechanisms, and potential participation opportunities.
TermMax: A New DeFi Solution for Fixed-Rate Lending
Project Overview
TermMax is a DeFi protocol focused on fixed-rate, fixed-term lending, which can be understood as a "lending AMM." Compared to variable-rate lending protocols like Aave and Compound, TermMax emphasizes interest rate predictability — borrowers can lock in their financing costs before opening a position, while lenders can also determine their maturity yields in advance.
In terms of its product mechanism, TermMax draws on the AMM approach of Uniswap V3 and tokenizes leverage and fixed-income exposure through Gearing Tokens and Fixed-rate Tokens. Users can execute fixed-rate lending, one-click looping, range orders, and custom yield curves within the platform, integrating lending, leverage, and rate trading operations that previously required multiple protocols into a single market.
Key Developments
Since its mainnet launch in April 2025, TermMax’s TVL recently surpassed $71 million. The project now supports multiple networks including Ethereum, Arbitrum, and BNB Chain, and continues to expand to ecosystems like X Layer and Base. Previously, on March 25, 2026, TermMax ranked second on Token Terminal's daily active address list for DeFi lending protocols, behind only Aave.
DeFi Lending Protocol Daily Active Addresses (March 25, 2026)
Furthermore, TermMax is integrating fixed-rate lending with RWA scenarios. In January 2026, TermMax launched a fixed-rate market on BNB Chain supporting Ondo tokenized stocks as collateral, allowing users to access funds without selling their tokenized stock assets. Additionally, TermMax launched a single-asset USD₮0 lending product on X Layer, with a fixed APY of up to ~5.07%, and partnered with Morpho to introduce one-click Rollover, enhancing the flexibility of fixed-term debt positions.
Last night, TermMax announced on X platform the launch of its V2 version. Compared to V1, the V2 version focuses on restructuring issues related to liquidity fragmentation, low idle capital utilization, and inefficient order matching.
TermMax V2 is now live.
Specifically, V2 introduces Composable Base Yield, allowing Vaults to integrate with ERC-4626 yield sources like Aave and Morpho, enabling unmatched idle funds to generate baseline returns; Atomic Order enables the same liquidity to be listed in multiple markets simultaneously while only being consumable once, improving liquidity utilization; and the Order Aggregator automatically scans different order types to match users with better rate paths.
Furthermore, V2 adds Smart Unwind and Alpha Zone. Smart Unwind is designed to improve the efficiency of exiting debt positions and capital recycling, while Alpha Zone supports more flexible creation of new markets. Overall, the focus of TermMax V2 is not to add more complex features, but to deepen liquidity, improve capital efficiency, and simplify user operations within the fixed-rate lending market.
Interaction Opportunities
STEP 1. After entering the V2 version, click the "Leaderboard" at the top to navigate to the TermMax Season 0 activity interface.
STEP 2. Click "Sign In" to log into your account by connecting your Web3 wallet.
STEP 3. Complete daily check-ins (reset at 8 AM daily) to earn points.
STEP 4. Points are divided into XP tasks (deposit-related), AP tasks (trading-related), and MP tasks (social-related). Complete the corresponding tasks as specified to earn the respective point rewards.
Renaiss: Providing On-chain Liquid Assets for Real-World Collectible Cards
Project Overview
Renaiss is an RWA liquidity infrastructure project centered around real-world collectibles, with a primary focus on collectible finance, namely a collectibles financial network. Compared to common RWA like treasury bonds, stocks, or funds, Renaiss targets the more niche collectibles market, specifically real-world collectible assets such as trading cards and Pokémon cards. To date, the Renaiss platform has exceeded $15 million in trading volume.
Renaiss aims to solve long-standing pain points in the real-world collectibles market, including high costs of physical custody and authentication, opaque price data, fragmented trading liquidity, and difficulties in further financializing assets. The project transforms real-world collectibles like cards into verifiable, tradable, and composable on-chain assets through on-chain ownership certificates, third-party custody, and a data pricing framework.
Renaiss enables more real-world collectibles to become on-chain verifiable, tradable, and usable for DeFi assets. For example, once a high-value collectible card is custodized and mapped on-chain, it can not only be bought and sold but also has the potential to enter on-chain financial scenarios like staking and lending, ultimately evolving into a protocol-layer project for real-world collectibles. This distinguishes Renaiss from typical NFT projects. It is not about re-issuing a batch of purely on-chain image assets; instead, it connects physical cards, which already possess offline value and collector demand, to the chain, allowing collectors to retain ownership of the physical asset while gaining greater liquidity on-chain.
Key Developments
On May 22, Renaiss announced the launch of the Magma Pack series of card packs, with a total supply of 1,000 packs. The highest-tier card value can reach up to $2,900, and the packs sold out on the same day.
On May 26, Renaiss announced the upcoming launch of the Eden Pack series of card packs, themed around One Piece. The total quantity has not been disclosed but includes over 100 top-graded cards.
Interaction Opportunities
STEP 1. Go to the official website (Link: https://www.renaiss.xyz/), click "Log in" to sign into your personal account.
STEP 2. Click the profile icon in the top right corner to deposit funds.
STEP 3. Click on the OMEGA pack opening event on the homepage. Each pack costs $48, with a 90% chance of obtaining a C-grade card, a 7% chance of a B-grade card, a 2% chance of an A-grade card, and less than a 1% chance of an S-grade card.
