# TMX Token Now Available for Trading on Kraken TermMax's governance token TMX has been listed on Kraken exchange. - **Source:** [Kraken Blog](https://brifing.si/source/d5b3c3d8-9f4f-4485-9bd1-50ba4c5fe7ae) - **Published:** 2026-08-26 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/5c2d2405-c8d9-402f-bc2e-b95b1f5172c2 ## TMX Listed on Kraken Kraken exchange has opened trading for TermMax protocol's governance token TMX as of August 25, 2026. Users can now execute TMX buy-sell transactions through Kraken. With the token becoming tradable, liquidity formation is expected. Kraken specifically emphasized that users must deposit tokens only through supported networks. ## What is TermMax Protocol? TermMax is a decentralized protocol developed for fixed-rate, fixed-term borrowing/lending transactions. Unlike traditional AMMs, it uses a custom range order AMM that allows market makers to set target APR ranges instead of price ranges. This system enables users to borrow/lend by locking in rates at transaction initiation. ## TMX Token Features TMX is an ERC-20 token created with a fixed supply of 1 billion. Cross-chain transfers are possible thanks to LayerZero OFT technology. Token holders have governance rights over the protocol's product features and parameters. They can also stake TMX to obtain sTMX, earning rewards and gaining additional governance rights over market risk parameters. ## TMX Trading on Kraken Users can deposit TMX tokens by selecting the token in the Funding section of their Kraken account. However, the exchange warns that deposits made through unsupported networks will be lost. Instant buying and mobile app transactions will become active after sufficient liquidity forms. Kraken notes it may implement geographic restrictions in some regions. ## Tokenomics and Use Cases The TMX token serves as both governance and utility token in the TermMax ecosystem. Market makers called curators contribute to system operation by setting APR ranges in isolated markets. This system allows users to open leveraged positions at fixed rates. The token's value will be shaped by the protocol's adoption rate. ## Kraken's Listing Policy Kraken announced plans to list more assets after TMX but didn't share information about which tokens are coming. The exchange's policy is to not share details until shortly before launch. New listings will be announced on Kraken's Listings Roadmap and social media accounts. Customer representatives cannot provide information about future listings. ## Fixed Rate Trend in DeFi TermMax aims to differentiate itself in the DeFi sector dominated by variable interest rates by offering fixed-rate solutions. This approach resembling fixed-rate products in traditional finance systems could appeal to risk-averse investors. The increase in similar protocols is expected to boost DeFi's adoption among institutional investors. ## Significance for Investors TMX's listing on Kraken marks an important step that will increase TermMax protocol's visibility and liquidity. Token holders will both influence the protocol's future through governance rights and earn passive income through staking mechanisms. The development of fixed-rate solutions in DeFi is considered an indicator of the sector's maturation process. ## Sources covering this story - https://blog.kraken.com/product/asset-listings/tmx-is-available-for-trading — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._