Since anchoring the DeFi fixed income track in 2021, TreehouseFi has always aimed to 'build infrastructure for the symbiosis of crypto and traditional values' as its core goal. Through the continuous optimization of the tAssets liquid staking system and the DOR decentralized interest rate benchmark, it has gradually constructed an ecological pattern of 'compliant and trustworthy, efficient and flexible, cross-domain interconnected.' As of August 2025, the project has achieved a TVL exceeding $550 million across Ethereum, Arbitrum, and Mantle, serving over 65,000 users; the first RWA product, 'on-chain government bond tAsset,' has successfully obtained dual compliance qualifications of the U.S. SEC Regulation D and the EU MiCA, with asset custody managed by the world's top custodian State Street. The current reservation configuration scale has exceeded $10 million, with ecological incremental value and industry empowerment capacity continuously highlighted.
First, tAssets: Dual adaptation for users and institutions, a revolution in the efficiency of liquid staking.
tAssets, as the core vehicle connecting users and the ecosystem, address both the pain points of traditional liquid staking 'institutions not daring to enter, users not being flexible' through three core designs: 'compliance adaptation, liquidity optimization, and yield layering,' achieving a dual empowerment of 'crypto-native yields + compliant asset allocation,' becoming the core engine for ecological growth.
At the institutional adaptation level, tAssets have built a 'full-chain compliance guarantee' system. It has successfully accessed the Aave Prime institutional-level lending market, with a collateralization rate as high as 85% (significantly above the industry average level of 70% for ordinary LSTs), and must go through strict KYC/AML certifications, fully matching traditional financial institutions' compliance due diligence requirements. As of Q3 2025, the collateral scale of tAssets in the Aave Prime market has exceeded $130 million, accounting for 9% of the ETH collateral assets in that market, with 30% coming from family offices, hedge funds, and other professional institutions—these institutions' continued entry not only validates the compliance value of tAssets but also injects long-term stable funding into the ecosystem.
In terms of liquidity experience, the innovative design of tAssets completely breaks the traditional perception that 'high yields must be locked.' The '72-hour quick redemption channel' allows users to initiate redemption at any time, with fees dynamically reduced based on holding duration (less than 30 days at 0.5%, 30-90 days at 0.2%, over 90 days at 0.1%), and the redemption arrival time compressed to within 10 minutes. In Q3 2025, this channel averaged over 12,000 users per month; the zero delay and low-cost experience significantly enhance users' fund flexibility. The 'cross-chain atomic transfer' function achieves seamless asset flow between Ethereum and Arbitrum, Mantle, with gas fees subsidized by the ecological fund by 30%, and a cross-chain success rate stabilized at 99.9%, thoroughly solving the pain point of multi-chain users managing 'scattered assets.'
In terms of yield mechanisms, tAssets build a diversified system of 'base + flexible + equity,' accurately matching the needs of different users. The base layer provides native staking yields from ETH/LSTs (annualized 3.2%-3.6%), ensuring profit; the flexible layer provides MEY market efficiency yields (only connecting to leading protocols like Aave and Compound, annualized 1.2%-2.2%), with controllable risk; the equity layer offers Nuts points (100 points can be exchanged for 1 $TREE), coupled with long-term incentives of 'additional yield of +0.3% for holding over 90 days, +0.5% for over 180 days.' Data shows that currently, 65% of users choose the 'base + flexible' combination, and 25% add the equity layer, with a satisfaction rate of 92% regarding the yield structure. This high adaptability allows tAssets to cover all types of users from conservative to aggressive.
Second, DOR: From data tool to industry benchmark, the empowerment breakthrough of decentralized interest rates.
As the underlying interest rate infrastructure of TreehouseFi, DOR gradually upgrades from 'on-chain data tool' to 'cross-domain pricing benchmark' through three core actions: 'trustworthy data generation, scenario-based tool support, and traditional standard interfacing,' providing key standardized support for the DeFi fixed income industry.
In terms of data credibility, DOR has established a quoting system of 'multiple entities balancing' to completely avoid the risk of control by a single entity. 500 community quote providers must pledge 1000 TREE or equivalent tAssets to gain eligibility, with 3 market makers having a traditional financial background as institutional quote providers (requiring a pledge of 500,000 TREE), while also connecting with 2 third-party data service providers (providing government bond yields and RWA cash flow data). The weights of the three types of quote providers are allocated at '5:3:2' to ensure data fairness. Daily calibration with interest rate averages from mainstream market platforms like CoinGecko and Nansen shows an average deviation rate of only 0.18% in Q3 2025, far below the industry average of 0.8%—this characteristic of 'high precision + high transparency' makes DOR a 'trustworthy interest rate anchor' in the eyes of developers and institutions.
In terms of scenario-based empowerment, DOR accelerates industry penetration through 'simplified tools + lowered thresholds.' Its launched 'DOR Developer SDK' allows developers to call core data such as 'Ethereum Staking Rate (TESR)', 'Cross-chain tUSDC Rate', and 'Green RWA Rate' with just 3 lines of code without needing to understand the underlying mechanism. Currently, 8 teams have developed derivatives based on this SDK, with 2 fixed-rate wealth management products exceeding $2 million in trading volume in the first month of launch. One cross-border payment company has developed a 'fixed-rate settlement tool' based on DOR's cross-chain tUSDC rate, processing an average of over $3 million per month—DOR's practical value has extended from 'data provision' to 'business implementation,' truly empowering industry innovation.
More critically, DOR has completed data format adaptation with ISDA (International Swaps and Derivatives Association), allowing traditional financial institutions to directly import DOR data into mainstream pricing systems such as Bloomberg Terminal and Refinitiv without additional format conversion. This breakthrough means that DOR is expected to become a unified pricing benchmark for 'on-chain-off-chain' interest rate derivatives, opening up the channel for DeFi interest rate infrastructure to enter the core of traditional finance, with limitless cross-domain empowerment potential.
Third, ecological synergy: The two-way cycle of incremental users and assets, with ecological value continuously expanding.
TreehouseFi builds a positive cycle of 'attracting traditional users with crypto assets, and traditional assets feeding back into the crypto ecosystem' through the collaborative efforts of 'RWA implementation, institutional cooperation, and user operations,' resulting in simultaneous explosions of ecological increments and value scale.
The realization of RWA is the core lever for attracting traditional incremental users to the ecosystem. In addition to the already filed 'on-chain government bond tAsset', the project has reached deep cooperation with 2 European green energy service providers, planning to launch 'green wind power RWA tAsset' by the end of 2025—underlying assets are cash flow returns from compliant wind power projects, managed by Deutsche Bank, with a minimum investment amount of only $500, allowing ordinary users to participate in traditional low-risk green asset allocation. Currently, the product is in the compliance pre-review stage, with over 5,000 users reserving allocations, 40% of which are traditional investors who are newly exposed to crypto assets—RWA is becoming a key bridge for TreehouseFi to connect with incremental users 'outside the crypto circle.'
Institutional cooperation provides long-term resources and funding support for the ecosystem. In the Series A financing, TreehouseFi introduced the venture capital of traditional financial giant MassMutual Ventures, gaining a valuation endorsement of $400 million; partnerships with top global custodians such as State Street and DBS Bank have been established to provide professional asset custody services for RWA products, completely alleviating traditional users' concerns about 'on-chain asset confirmation.' As of August 2025, institutional users' holdings in tAssets accounted for 15%, contributing 20% of the ecosystem's TVL increment—long-term allocation of institutional funds not only enhances ecosystem stability but also increases ordinary users' trust in the project.
User operations focus on 'high-quality retention' to build a healthy and sustainable user structure. For new users, a '3-step interactive guidance process' is developed to simplify operations like minting and redeeming tAssets, compressing the onboarding time for new users from 10 minutes to 2 minutes; for long-term users, exclusive benefits like 'RWA priority allocation rights' and 'extra yield bonuses' are introduced. Currently, the 30-day retention rate for tAssets users is 68%, and the 90-day retention rate is 34%, both far exceeding the DeFi project averages of 45% and 15%—the high-stickiness user group lays a solid foundation for the long-term development of the ecosystem.
Fourth, future outlook: Infrastructure empowerment upgrade and cross-domain value breakthrough.
TreehouseFi's future layout will further strengthen its core positioning as 'DeFi fixed income compliant infrastructure,' with three major directions likely to promote leapfrog growth in ecological value:
First, cross-chain coverage continues to expand. By Q1 2026, we plan to complete deployments on two mainstream public chains, BNB Chain and Solana, while simultaneously optimizing cross-chain asset transfer efficiency, aiming to increase the ecosystem coverage user scale to 100,000, with TVL exceeding $800 million, further expanding industry influence.
Second, deepening expansion of RWA categories. In addition to the already advanced government bonds and wind power projects, in 2026, we will explore the launch of 'corporate bond tAsset' and 'gold tAsset,' collaborating with more traditional asset custody institutions, aiming to achieve an RWA scale exceeding $300 million, creating a diversified low-risk asset pool of 'crypto + traditional' to attract more traditional incremental funds into the market.
Third, the penetration of the DOR industry accelerates. We plan to cooperate with more derivative teams and traditional financial institutions to promote the scaling of products based on DOR, such as interest rate swaps and fixed-rate bonds, aiming to make DOR a pricing reference benchmark for more than 15 institutions by the end of 2026, truly realizing the industry empowerment value of a 'decentralized interest rate benchmark.'
As a benchmark for the compliance development of DeFi fixed income, TreehouseFi, with its solid infrastructure, clear cross-domain positioning, and ongoing results, is gradually opening up the value channel between crypto and traditional finance. With the ecosystem continuing to expand and industry demands deepening, its infrastructure empowerment capacity and cross-domain value potential will be further released, providing key support for the scaled and standardized development of DeFi fixed income.
