2026-01-14 18:30:50

Many people are chasing the TermMax vault product, thinking it's a risk-free arbitrage with a guaranteed win. But if you look closely at the rules, you'll find that things are not that simple.

This is actually a structured product, similar to the shark fin or dual-currency winning strategies in OKX. Behind the high APY is the risk you are taking—when the market fluctuates, your principal may be exercised.

Why is the yield so high? Because you're not just depositing coins to earn interest, but selling options. It seems risk-free, but in reality, you're exchanging the safety of your principal for short-term high interest.

These vault products are not impossible to play, but you must understand the mechanism. Whether you're following the trend or recommending it to fans, you need to understand what risks you're taking. Blind FOMO will ultimately cost you your principal.

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LongTermDreamer

· 3h ago

Oh, this is the pit I stepped into three years ago. At that time, I also thought it was a guaranteed profit. I was planning to recommend it to friends, but luckily I stopped in time, or I would have lost another wave. Basically, it's selling options. How can it be risk-free? Greed truly is the original sin. After a market wave, these high-yield products reveal their true nature. Just wait and see. I've learned my lesson with this kind of thing. Whenever I see high returns, I stay far away. After all, the principal is the root.

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MetaverseHomeless

· 7h ago

It's another seemingly delightful "arbitrage," but in reality, you're selling options to the market maker. Principal is king; high APY is just an illusion. Lying back and winning? Wake up, no one will give you free money. This is the trick of finance—wearing a DeFi disguise is still a trick. A bunch of people FOMO chasing highs, and in the end, the ones crying are themselves. I'll just watch.

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GateUser-c799715c

· 7h ago

The strategy of earning interest by selling options has long been seen through. The problem is that most people don't really understand what they're doing and just follow along blindly.

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HalfBuddhaMoney

· 7h ago

It's the same trick again. No matter how fancy the packaging, the essence doesn't change—it's just selling options to make quick money.

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JustAnotherWallet

· 7h ago

To be honest, this is just gambling on volatility. Do you understand, everyone? It's another high-yield scheme, and upon closer inspection, they're all selling options. The principal can disappear at any time. Products like TermMax are just disguised structured products. Don't be fooled by the APY. Those who play it low-key are making money, while followers are still waiting for a rebound. Do you understand? You must know what you're betting on with this kind of thing; otherwise, the principal might really never come back. Selling options for high interest sounds great, but the risks are hidden deep. I don't play this.

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