TermMax Daily Topic: What Happens When Maturities Can Be Traded? Maturity is the most underestimated variable in finance. In traditional markets: short-term interest rates reflect liquidity; long-term interest rates reflect growth expectations; the term structure itself is information. In many DeFi protocols, time is almost ambiguous. There are no clear maturity dates, no segmented interest rates, and no cross-maturity arbitrage opportunities.
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TermMax Daily Topic: What Happens When Maturities Can Be Traded? Maturity is the most underestimated variable in finance. In traditional markets: short-term interest rates reflect liquidity; long-term interest rates reflect growth expectations; the term structure itself is information. In many DeFi protocols, time is almost ambiguous. There are no clear maturity dates, no segmented interest rates, and no cross-maturity arbitrage opportunities.