Treehouse is a DeFi protocol focused on the on-chain fixed-income market. Its core revolves around two innovative asset types: tAssets (e.g., tETH) and DOR (Decentralized Offered Rate). Users can supply ETH or major liquid staking tokens (LSTs) into the protocol and receive tAssets, while simultaneously providing liquidity to support the DOR consensus mechanism. The aim is to drive standardized on-chain interest rate benchmarks, increasing transparency and reference value in the Ethereum staking market.
Structurally, Treehouse draws inspiration from traditional finance's benchmark rate formation. DOR is not generated by a single oracle but by a panelist-submission process, with Delegators staking and voting on rates to build consensus. The agreed rates (such as TESR — Treehouse Ethereum Staking Rate) are published regularly on-chain. This system is naturally suited to support on-chain interest rate derivatives (such as FRAs, Forward Rate Agreements), giving DeFi an equivalent to LIBOR or SOFR as a reference benchmark.
For security, Treehouse has been audited by top firms (Trail of Bits, Sigma Prime, WatchPug, Fuzzland), is backed by an insurance fund, and has a TVL of over $573 million with nearly 50,000 active users—clear proof of market trust and protocol robustness.
On the token layer, TREE is used for incentives, governance, and utility burn. Panelists must stake TREE to report rates; contracts querying DOR pay TREE fees; DAO earnings cycle back as rewards based on reporting accuracy. TREE also underpins DAO ecosystem grants, developer rewards, and airdrops, forming a fairly robust value loop. Tokens vest over 48 months, with >45% directed to incentives and long-term ecosystem support.
Overall, Treehouse is building a foundational network for the DeFi fixed-income market—not just another staking optimizer, but one with "on-chain interest rate standards" and "native yield derivatives" at its core. Its potential for future expansion is strong, especially as RWA, on-chain treasuries, and rates markets evolve quickly.
Project Highlights
On-Chain Rate Benchmark — Filling DeFi's Fixed Income Gap
Treehouse introduces the first decentralized consensus rate (DOR), launching TESR (Treehouse Ethereum Staking Rate) as an on-chain equivalent to government yield curves or lending benchmarks. Its panelist-vote structure more accurately reflects real yield expectations on ETH staking, enabling construction of on-chain FRAs and other fixed-income products.
LST 2.0 — Yield Stacking + Unified Liquidity + Enhanced Security
Unlike traditional single-yield staking, Treehouse’s LST 2.0 gives users triple-yield stacking: basic LST APY, Market Efficiency Yield via rate arbitrage, and incentive tokens via Restaking Points and Nuts. tETH also unifies liquidity across the rate market, increasing both protocol security and DOR's crypto-economic integrity.
Complete TREE Token Design — Strong Incentive Governance Alignment
TREE is the protocol’s core functional and governance token, covering everything from panelist collateral to query fees to incentive rewards. Token rewards are distributed via a consensus/accuracy mechanism, introducing game theory to rate-setting. The linear four-year unlock schedule, with 20% community, 10% ecosystem fund, and nearly 6% set aside for future airdrops, is structured for long-term alignment.
Security-First Setup: Multi-Audit + DAO Insurance Fund
Treehouse is audited by Trail of Bits, Sigma Prime, Fuzzland, WatchPug, and has a HackenProof bug bounty and dedicated insurance fund. Segregated roles for data sources (Panelists/Operators/Referencers) reduce manipulation and bias, supporting long-term, robust DOR operation.
Valuation Outlook
Treehouse is a pioneer in decentralized rate benchmarking, introducing on-chain interest rate curves (DOR) to enable widespread fixed-income and structured product deployment. With tETH and TESR live, $573M TVL, and ~50,000 users, TREE will launch its token via ICO after mainnet.
TREE’s total supply is 1 billion. Initial price and fully diluted valuation (FDV) remain undisclosed, but as a hybrid of Lido (LST ecosystem), Pendle (yield derivatives), and Ethena (structured yield), market comparables offer a basis for valuation mapping. Projects in peer ranges (FDV) set reference points for TREE’s potential.
