The Treehouse protocol launched by Treehouse Labs is attempting to fill this gap. Through innovative tAssets and DOR mechanisms, it builds a decentralized fixed income layer that helps users earn stable returns from digital assets. This report provides an in-depth analysis of Treehouse based on the latest market data and community feedback, assessing its investment value and growth prospects. Optimistic about $TREE as an entry point in this sector, it is currently reasonably valued with significant upside potential in the future. @Treehouse Official

Project Overview

Treehouse Labs was founded in 2021 by a group of experienced DeFi developers focused on bringing fixed income solutions to blockchain. The core of the protocol connects yield primitives, benchmark interest rates, and participation layers, forming a unified fixed income infrastructure. On September 10, 2024, Treehouse officially launched its mainnet, with the first day's TVL soaring to $86 million, currently exceeding $300 million, demonstrating strong market demand.

The platform allows users to deposit ETH or LST (such as stETH) and earn additional returns above liquid staking through tAssets. Meanwhile, DOR, as a decentralized pricing mechanism, provides transparent benchmark interest rates, such as TESR (Treehouse Ethereum Staking Rate), for derivatives pricing and risk hedging. Treehouse has completed multiple audits and has an insurance fund in place to ensure safety. Their vision is to attract institutional funds through these tools, advancing DeFi towards maturity.

Core Product Analysis

Treehouse's competitiveness lies in two major innovations: tAssets and DOR.

Firstly, tAssets represent LST 2.0. Taking tETH as an example, it integrates Lido and Aave, allowing users to earn additional profits on top of ETH staking returns through interest rate arbitrage strategies. Historical backtesting shows that tETH yields are consistently higher than stETH, and users can maintain liquidity for borrowing or trading. The recently launched gtETH and cmETH vaults further expand to Layer 2 such as Mantle, supporting more assets.