TL;DR

• Only 100 addresses selected across Ethereum
• Claims start from June 25 and close on July 1 14:00 (UTC)

We've pre-built 5x leveraged positions earning fixed double-digit APY for heavy looping users on Ethereum. 

https://gtairdrops.termmax.ts.finance/

👆 [Connect your wallet to check if you're eligible to claim]

No catch, no strings attached. 

Who is eligible?

100 addresses are selected on Ethereum based on their on-chain activities. Specifically, those addresses are:

• Not a smart contract,
• Active on Ethereum,
• Heavy looping users.

You can know if your address is eligible to claim the GT airdrop by connecting your wallet on our airdrop page.

P.S. Not eligible? Please follow @TermMaxFi for future campaigns and give our protocol a try.

What are GTs?

GT is a tokenized debt position on TermMax.

The ones we're giving away are 5x PT-sUSDE positions that:

✅ Earn fixed double-digit returns
✅ Require zero active management  
✅ Can be held till maturity for guaranteed yields
✅ Can be traded anytime on TermMax

Here is how we made one on Ethereum:

1. We use some USDC and borrow 4x of that amount on TermMax at a fixed rate,
2. We swap the combined USDC (from principal + borrowed amount) to PT-sUSDE-31JUL2025 on DEXs, and
3. Lock the acquired PTs in the GT.

These three steps are done in one transaction on TermMax.

Since both PT and TermMax use fixed rate, each GT's APY is fixed upon creation. In other words, if you hold this GT till one day before the maturity date, you'll earn the double-digit APY shown on the claim page.

You can check our docs to learn more.

When can I claim?

Below are the times and dates that you should be aware of:

• Claim Starts: 25 June 2025, 14:00 UTC 
• Claim Ends: 1 July 2025, 14:00 UTC

The unclaimed GT after the claim period will be withdrawn from the contract.

How can I sell the GT?

Based on past experience, we know the majority of airdrop recipients sell their tokens upon receiving them. No hard feelings though.

Before answering that question, here is the mandatory sales pitch I have to make to keep my job - feel free to skip them:

So, why should you hold your GT instead of selling it outright? 

It’s because by holding your GT till one day before the maturity date, you can earn a double digit APY on your GT - as the GT we give away is a 5x PT-sUSDE-31JUL2025 looping position (on Ethereum). 

Not to mention if you sell now, your looping position will incur slippage as it's routed through DEXs, but it's not the case for doing that one day after maturity, when the PTs held by your GT will be used to redeem the underlying asset on Pendle at 1:1 ratio, i.e. no slippage.

Now with that out of the way, here is how you can sell your GT:

Once you’ve claimed the airdropped GT, the button should become “See your GT on TermMax”, you can either click on the button or head to our dashboard.

Over there there are two ways to unwind your position:

Close

This approach uses your existing collateral to repay the debt, and you receive the remaining debt tokens, if any.

In our case, you will receive the USDC on Ethereum if you opt for this route - as the pair we used to build this GT is USDC/PT-sUSDE-31JUL2025 where the former is the debt asset while the latter is the collateral.

Repay

This approach requires you to provide the debt token, and you receive the collateral locked in the GT, akin to unwind a SKY’s CDP.

In our case, you repay the USDC debt detailed on this GT and receive the PT-sUSDE-31JUL2025 on Ethereum in return.

This is more suitable for over-collateralized borrowing positions.

You can find those unwinding methods below your GT position:

Ready to Experience TermMax?

If you're one of the 200, this is your introduction to predictable yields and one-click looping. We're confident that once you see how simple fixed-rate DeFi can be, you'll keep using TermMax.

We know some deserving users might be missed because of our criteria. If you're not eligible this time, we'd love for you to explore TermMax and experience fixed-rate DeFi firsthand.