CarpenterLabs

First of all, I really want to thank HTX. Today, I received the 2025 year-end trophy. This is not only a result of my personal efforts but also a reflection of everyone's help and support. Every small progress is inseparable from everyone's encouragement and companionship.
In 2026, I will continue to work hard and strive to do better! Thank you for your recognition. I will keep pushing forward!
Thanks to Sun Ge for HTX @justinsuntron @HTX_Global
Thanks to Liu Ye @HTX_Molly
Thanks to Dao Dao @daodao333
Thanks to Andy Ge @xiaojiucai_andy
And many, many friends.
Salute🫡 Haha, my HTX trop

First of all, I really want to thank you. Today, I received the 2025 year-end trophy. This is not only a result of my personal efforts but also the outcome of everyone’s help and support. Every small progress is inseparable from everyone’s encouragement and companionship.
In 2026, I will continue to work hard and strive to do better! Thank you for your recognition. I will keep pushing forward!
Thanks to Brother Sun @justinsuntron @_Global
Thanks to Uncle Liu @_Molly
Thanks to Dao Knife @daodao333
Thanks to Brother Andy @xiaojiucai_andy
And many, many friends.
Salute🫡 Haha, my trophy.

First of all, I really want to thank HTX. Today, I received this trophy for the 2025 year-end. This is not only the result of my personal efforts but also the outcome of everyone helping and supporting me. Every small step forward wouldn't be possible without everyone's encouragement and companionship.
In 2026, I will continue to work hard and strive to do better! Thank you for your recognition. I will keep pushing forward!
Thanks to Sun Ge from HTX @justinsuntron @HTX_Global
Thanks to Liu Ye @HTX_Molly
Thanks to Dao Dao @daodao333
Thanks to Andy
And many, many friends.
Salute🫡 Haha,

The core asset splitting logic of TermMax: Why FT / XT / GT
In the design of TermMax, asset splitting is not intended to increase complexity but to address a fundamental long-standing issue in DeFi: funds with different risk preferences are forcibly placed into the same yield pool. @TermMaxFi chooses to structurally reconstruct the funding relationships. When users participate in the protocol, assets are no longer just "depositing or lending," but are broken down into various token forms with clear financial attributes, allowing yields, risks, and time to be independently priced.
The existence

The core asset splitting logic of TermMax: Why FT / XT / GT
In the design of TermMax, asset splitting is not intended to increase complexity but to address a fundamental long-standing issue in DeFi: funds with different risk preferences are forcibly placed into the same yield pool. @TermMaxFi chooses to structurally reconstruct the funding relationships. When users participate in the protocol, assets are no longer just "depositing or lending," but are broken down into various token forms with clear financial attributes, allowing yields, risks, and time to be independently priced.
The existence

To truly understand TermMax, one must start from its overall protocol structure rather than remain at the level of a single product or operation. @TermMaxFi does not adopt the traditional DeFi design approach of "a single pool supporting all needs," but instead builds a system centered around maturity, interest rates, and risk stratification, which more closely resembles the operation of real financial markets. In TermMax, maturity is not an auxiliary condition but the core variable of the entire protocol. Each market is associated with a clear expiration date from its inception, meaning that

In the DeFi world, most protocols are initially designed to serve only one type of user:
Either high-frequency traders or liquidity providers chasing high yields.
But as the scale of funds gradually expands and participant structures become more complex, this single-perspective design begins to show its limitations. From the very beginning, TermMax has not confined itself to being a "retail protocol" or an "institutional tool."
It is more like attempting a more challenging task:
Using the same financial logic to simultaneously satisfy participants with different fund sizes and risk preferences

After reading @Websea_CN's annual report, 2025 is considered officially wrapped up. 📝 The entire year's operational logic is embedded in the data, with the title in hand, and the goal halfway achieved.
🏆For 2026, there are no other ambitions, only the hope that everyone can continue to evolve and make a beautiful comeback! 📈 Brothers who haven't done the review yet, go to the App homepage and see how your 2025 results turned out.
Hope everyone can support the Websea platform more, and give us a follow!
#Websea @Webseaintern @webseaofficial

From Floating Interest Rates to Fixed Income: The Changing Landscape of DeFi Lending
Early DeFi lending protocols essentially addressed a very straightforward problem: how to efficiently mobilize funds without intermediaries.
Therefore, floating interest rates became the most natural choice—they can quickly reflect supply and demand changes and facilitate automatic adjustments under different market conditions.
However, as DeFi continues to grow, this design centered on “instant efficiency” has begun to reveal structural limitations.
While flexible, floating interest rates almost entirel

From Floating Interest Rates to Fixed Income: The Changing Landscape of DeFi Lending
Early DeFi lending protocols essentially addressed a very straightforward problem: how to efficiently mobilize funds without intermediaries.
Therefore, floating interest rates became the most natural choice—they can quickly reflect supply and demand changes and facilitate automatic adjustments under different market conditions.
However, as DeFi continues to grow, this design centered on “instant efficiency” has begun to reveal structural limitations.
While flexible, floating interest rates almost entirel

Thank you @cn_irys_xyz for the full of surprises during this period❤️
The hairy crabs arranged earlier, the Christmas gifts, and now with the New Year approaching, I received a big box of snacks again. Every time, it's not just the routine "official care," but truly heartfelt.
It's a feeling of being taken seriously and being remembered.
In the crypto world, there are many projects, but there are not many that are willing to continuously create happiness and surprises for the community in the details.
IRYS has achieved this, and not just once.
It's not only about building technology and ecolog