TermMax與Renaiss熱度升溫，YZi Labs孵化的這兩個項目如何參與？
- 核心觀點：近期，YZi Labs孵化項目TermMax與Renaiss熱度上升。TermMax透過固定利率借貸機制優化DeFi效率，TVL超過7100萬美元；Renaiss則聚焦現實收藏卡牌的鏈上金融化，平台交易量突破1500萬美元，兩者均提供早期互動機會。
- 關鍵要素：
- TermMax採用類似Uniswap V3的AMM模式，透過代幣化固定收益與槓桿，整合借貸、利率交易和循環槓桿功能，提升利率可預測性。
- TermMax V2版本上線，透過Composable Base Yield、Atomic Order和Order Aggregator等機制，解決流動性碎片化和閒置資金利用率問題，提升資本效率。
- TermMax已支援Ethereum等網路，曾於2026年3月登頂Token Terminal借貸協議日活榜第二，並將固定利率借貸與RWA（如Ondo代幣化股票）結合。
- Renaiss透過鏈上所有權憑證和第三方託管，將現實卡牌（如寶可夢卡牌）轉化為可交易和可DeFi化的資產，解決收藏品市場託管、驗證和流動性痛點。
- Renaiss近期推出Magma Pack系列（總量1000個，當日售罄）並預告Eden Pack系列（含超100張頂級卡牌），同時提供卡包開箱互動機會，卡包單價48美元。
- 兩個項目均處於早期階段，用戶可透過積分活動（TermMax的Season 0）或購買卡包（Renaiss）參與潛在空投或獎勵機會。
Original: Odaily Planet Daily (@OdailyChina)
Author: Asher (@Asher_0210)
In mid-May, YZi Labs announced the 25 graduating projects from the third season of its flagship incubation program, EASY Residency (Read more: EASY Residency Season 3 Graduation List Revealed – Which Tracks Did YZi Lab Focus On?), which focused on areas such as restructuring on-chain financial markets, AI agents, tokenized real-world assets (RWA), prediction markets, and privacy compliance.
Most projects are still in their very early stages, with limited public information and sparse community discussions. However, Odaily Planet Daily has observed that two projects have recently gained significant traction: TermMax, which focuses on fixed-rate lending, and Renaiss, which revolves around the financialization of physical 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, and lenders can determine their maturity returns in advance.
In terms of product mechanism, TermMax draws inspiration from Uniswap V3's AMM approach and tokenizes leverage and fixed-income exposure through Gearing Tokens and Fixed-rate Tokens. Users can perform fixed-rate lending, one-click looping, range orders, and customize pricing curves within the platform. Lending, leverage, and interest rate trading operations that previously required maneuvering across multiple protocols are now integrated into a single market.
Key Developments
Since its mainnet launch in April 2025, TermMax's TVL briefly exceeded $71 million recently. The project currently 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 the Token Terminal DeFi lending protocol daily active address chart, trailing only Aave.
DeFi Lending Protocol Daily Active Address Rankings (March 25, 2026)
Additionally, TermMax is integrating fixed-rate lending with RWA scenarios. In January 2026, TermMax launched fixed-rate markets on BNB Chain supporting Ondo tokenized stocks as collateral, allowing users to obtain funds without selling their tokenized stock assets. Furthermore, TermMax launched a single-asset USD₮0 lending product on X Layer, with a fixed APY of up to approximately 5.07%, and partnered with Morpho to introduce one-click Rollover, enhancing the flexibility of fixed-term debt.
Last night, TermMax announced on X platform the launch of its V2 version. Compared to V1, the V2 version primarily restructures to address issues like liquidity fragmentation, low idle capital utilization, and inefficient order matching.
TermMax V2 is Now Live
Specifically, V2 introduces Composable Base Yield, allowing Vaults to access ERC-4626 yield sources like Aave and Morpho, enabling idle unmatched capital to generate basic returns; Atomic Orders allow the same liquidity to be listed in multiple markets simultaneously but consumed only once, improving liquidity efficiency; the Order Aggregator automatically scans different order types to match users with optimal interest rate paths.
Additionally, V2 includes Smart Unwind and Alpha Zone. The former improves the efficiency of exiting debt positions and capital recycling, while the latter supports more flexible creation of new markets. Overall, the focus of TermMax V2 is not adding more complex features, but making the fixed-rate lending market more liquid, capital-efficient, and user-friendly.
Interaction Opportunities
STEP 1. After entering the V2 version, click on "Leaderboard" at the top to navigate to the TermMax Season 0 activity interface.
STEP 2. Click "Sign In" to log in to your personal account by connecting your Web3 wallet.
STEP 3. Complete daily check-ins (resetting at 8 AM daily) to earn points.
STEP 4. Points are divided into XP tasks (deposits), AP tasks (trading), and MP tasks (social). Completing the corresponding tasks as specified earns the associated point rewards.
Renaiss: Providing On-Chain Liquid Assets for Physical Collectible Cards
Project Overview
Renaiss is an RWA liquidity infrastructure project centered around physical collectibles, with its main focus on collectible finance—a collectible financial network. Unlike common RWA like treasury bonds, stocks, or funds, Renaiss targets the more niche collectibles market, particularly real-world collectible assets such as trading cards and Pokémon cards. To date, the Renaiss platform has surpassed $15 million in trading volume.
Renaiss aims to solve long-standing pain points in the physical collectibles market, including high costs of physical custody and authenticity verification, opaque price data, fragmented trading liquidity, and difficulties in further financializing assets. By leveraging on-chain ownership certificates, third-party custody, and a data pricing system, the project transforms collectibles like physical cards into verifiable, tradable, and composable on-chain assets.
Renaiss enables more physical collectibles to become on-chain assets that are verifiable, tradable, and usable in DeFi. For example, once a high-value collectible card undergoes custody and on-chain mapping, it can not only be bought and sold but also has the potential to enter on-chain financial scenarios like staking and lending, ultimately becoming a protocol-layer project for physical collectibles. This differentiates Renaiss from typical NFT projects. It does not reissue a batch of purely on-chain image assets but instead connects physical cards with existing off-market value and collectibility to the chain, allowing collectors to retain ownership of the physical asset while gaining higher on-chain liquidity.
Key Developments
On May 22, announced the launch of the Magma Pack series of card packs, with a total supply of 1,000. The top-tier card's value can reach up to $2,900, and the packs sold out on the same day.
On May 26, announced the upcoming launch of the Eden Pack series of card packs, themed around One Piece. The total number has not been disclosed, but it will include over 100 top-grade condition cards.
Interaction Opportunities
STEP 1. Go to the official website (link: https://www.renaiss.xyz/), and click "Log in" to access your personal account.
STEP 2. Click the icon in the top right corner to deposit funds.
STEP 3. Click on the OMEGA card-opening event on the homepage. Each card pack costs $48, with a 90% chance of getting 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.
