As an innovative benchmark project in the DeFi fixed income sector, TreehouseFi has keenly captured two key pain points that constrain ecological collaborative development: first, the isolation of cross-category asset value. In most similar projects, the value system of tAssets (such as tETH, tUSDC) and RWA (such as corporate bonds, mortgage assets) is completely disconnected— the liquidity yield of tUSDC cannot provide credit support for RWA investments, and the pledge records of tETH cannot lower the pledge threshold for RWA. There is a lack of 'value mutual assistance' between assets, leading institutions to repeatedly bear risk control costs when cross-category allocating; second, the full-cycle disconnection of user rights. The user rights in similar projects are mostly 'short-term one-time rights' (such as 7-day fee waivers), and different scenario rights cannot connect— the 'credit points' obtained in the pledge scene need to be re-accumulated in the RWA scene, and there is even the problem of 'rights expiring and becoming invalid'. The long-term participation 'continuity of rights' for retail users is insufficient, with a retention rate of less than 38%.

In response to the above pain points, TreehouseFi has innovatively constructed a dual-core architecture of 'Cross-category asset value linkage + Full-cycle user rights connection'. Through three major mechanisms: cross-category value mapping, rights lifecycle management, and ecological collaboration feedback, different categories of assets empower each other to enhance value, while user rights are continuously connected throughout the participation cycle without interruption. This not only addresses the core needs of target users (cross-category allocation institutions and long-term retail users) but also creates a differentiated collaborative value-added barrier for the project.

1. Cross-category asset value linkage: Breaking down the 'category isolation' barrier of project asset sides

TreehouseFi breaks the limitations of similar projects where 'asset categories fight alone' by innovatively designing a 'three-layer cross-category linkage system', relying on cross-category value contracts and multi-asset risk pools to achieve 'basic income linkage, scenario credit mutual assistance, and shared risk buffer' between tAssets and RWA, allowing different categories of assets to form a '1 + 1 > 2' collaborative effect, reducing cross-category allocation costs.

1. Basic income linkage: Cross-category income complementarity

The project combines the liquidity advantages of tAssets with the stability of RWA returns, designing a 'return complementarity mechanism':

• When users configure the 'tUSDC + short-term debt RWA' combination, the liquidity yield of tUSDC (basic annualized 3.8%) and the face yield of RWA (annualized 3.6%) can be calculated together. When the market interest rate of tUSDC is below 3.5%, the additional yield of RWA (0.2%-0.4%) is automatically subsidized to the tUSDC account, ensuring the combined annualized return remains stable at over 4.0%;

• Technically, by using 'cross-category income settlement contracts' to monitor the income fluctuations of the two types of assets in real time, the subsidy amount is automatically transferred daily without manual operation by the user. A retail user configuring a $100,000 combination gained an additional $800 in income within six months due to the subsidy mechanism, improving by 12% compared to a single allocation.

2. Scenario credit mutual assistance: Cross-category credit reuse

The on-chain credit record of tAssets can directly empower the RWA scene, avoiding repeated credit reviews:

• Users who hold tETH for 60 days without default can use their 'credit record' of tETH as 'credit endorsement' for RWA pledges when investing in RWA, reducing the pledge rate from 1.5 times to 1.2 times—an institution using 500 tETH as credit endorsement when investing $1 million in RWA only needs to pledge $1.2 million in tETH, which is a reduction of $300,000 in pledged capital.

• Conversely, the full payment records of RWA can also feedback into the tAssets scene: Users holding RWA with continuous payments for three periods can reduce their tUSDC interest rates in the lending scene by 0.3%-0.5%, achieving 'dual credit reuse', with cross-category credit utilization reaching 92%.

3. Shared risk buffer: Cross-category risk hedging

The project builds a 'multi-asset risk pool', injecting part of the service fees from tAssets and RWA into the pool to form a risk hedging buffer:

• When a certain type of RWA experiences short-term payment delays due to fluctuations in underlying assets, the risk pool prioritizes using service fees from tAssets for advance payment to ensure user returns are uninterrupted;

• When liquidity shortages occur across chains for tAssets, the risk pool can use idle RWA margins to supplement liquidity, avoiding cross-chain failures. In Q2 2024, a short-term debt RWA experienced payment delays, and the risk pool completed the advance payment within 48 hours, with zero loss for user returns and a 65% increase in asset confidence.

This system allows TreehouseFi's cross-category asset comprehensive value to increase by 28% compared to single-category allocations, while institutional cross-category allocation costs decrease by 40%, and asset portfolio retention periods extend from 4 months to 10 months.

2. Full-cycle user rights connection: Solving the 'rights disconnection' pain point of project user sides

TreehouseFi addresses the problem of 'short-term and fragmented rights' in similar projects by innovatively developing a 'full-cycle rights management platform', allowing user rights to continue accumulating and seamlessly connecting throughout the participation cycle, avoiding issues of 'rights expiration and re-accumulation', and enhancing the sense of gain from long-term participation.

1. Rights continuity connection: Cycles continue without interruption

User rights no longer have a 'fixed validity period', but are dynamically extended with participation behavior:

• The 'credit points' obtained by retail users in the pledge scene, if not used within 30 days, are automatically converted into 'rights existence points' by the system, with an additional 0.5% point value added for each day of existence, preventing expiration and invalidation;

• Institutional users' 'priority subscription rights for RWA', if not used in the current period, can be automatically extended to the next new RWA issuance, and the priority subscription quota will increase by 1.1 times. An institution, due to the extension mechanism, subscribed to a high-quality RWA with an annualized return of 4.2% in the next period, with additional earnings increasing by $12,000.

2. Cross-scenario rights circulation: Rights do not break continuity when switching scenarios

User rights in one scene can be seamlessly synchronized to other scenes without needing to re-accumulate:

• The 'interest rate reduction coupon' obtained in the lending scene can be synchronized to the RWA scene to offset investment fees;

• The 'liquidity points' accumulated in the cross-chain scene can be exchanged for 'pledge rate reductions' in the pledge scene. A retail user exchanged cross-chain points for RWA fee reductions, saving $600 in operational costs within six months, with cross-scene rights utilization reaching 88%.

3. Rights inheritance across generations: Long-term rights can continue

To address the need for 'account asset transfer' for institutional users, rights inheritance across generations is supported:

• Institutional users can transfer core rights such as 'RWA joint guarantee rights' and 'customized risk control parameter rights' to new accounts under the same entity through on-chain inheritance contracts without reapplying;

• Retail users can also transfer small rights (such as 'fee vouchers') to designated accounts, with a 100% success rate for rights inheritance, solving the 'account change rights loss' issue.

This mechanism allows TreehouseFi's retail user rights retention rate to reach 94% (the average for similar projects is 42%), long-term retail user activity rate increased from 38% to 85%, and the cross-scenario rights usage rate of institutional users increased by 3.5 times compared to the initial period.

3. Ecological collaborative feedback: Build a value-added cycle of 'Assets-Rights-Users'

TreehouseFi relies on the 'ecological collaborative contract' to deeply bind cross-category asset linkage with full-cycle user rights connection, forming a closed loop of 'Asset linkage enhances value → Users obtain coherent rights → Users deepen participation to promote asset re-linkage':

• Cross-category asset linkage allows users to obtain higher overall returns, attracting users to continue participating in scenes, thereby accumulating more connectable rights;

• A coherent rights experience makes users more willing to try cross-category allocation, promoting further linkage between different assets and forming a positive feedback loop. Data shows that users participating in collaborative cycles have a cross-category allocation ratio of 65%, which is 40% higher than non-participating users, with ecological TVL growing by 32% quarterly.

Project collaborative value-added ecological development path

In the next 12 months, TreehouseFi will further strengthen collaborative advantages: the asset side will add 'green tAssets + green RWA' linkage combinations and launch 'carbon credit linked returns'; on the user side, it will expand 'rights visualization dashboards' to support rights inheritance reservations; and on the scenario side, it will connect 'derivative scene' to achieve arbitrage between RWA income certificates and tAssets. The goal is to attract 70 institutions, surpass 160,000 retail users, grow TVL from $700 million to $2.5 billion, enter the top 12 of DeFi fixed income project TVL, and become a benchmark for cross-category fixed income collaboration.

Through the architecture of 'cross-category asset linkage + full-cycle user rights connection', TreehouseFi not only addresses industry collaborative pain points but also promotes DeFi fixed income projects from 'single category tools' to 'cross-category collaborative value-added ecology', providing a new path for the digitalization of global fixed income assets.