As decentralized finance (DeFi) continues to expand, the demand for fixed income products is increasing, similar to the role of bonds in traditional financial markets. However, building a transparent, decentralized, and secure interest rate system on the blockchain remains a significant challenge. This is why Treehouse was born to unify the Ethereum interest rate market on-chain and lay the foundation for a fixed income product ecosystem.
What is Treehouse?
Treehouse is a leading decentralized finance protocol creating a decentralized fixed income layer for digital assets. The project provides two essential elements for the infrastructure:
tAssets (e.g., tETH): are liquid staking tokens that allow users to earn real yields that outperform Ethereum's PoS rewards.
DOR (Decentralized Offered Rates): A mechanism for determining decentralized benchmark interest rates, akin to LIBOR or SOFR in traditional finance, but published on-chain.
Treehouse's goal is to integrate fragmented interest rates for ETH into a standardized benchmark, creating the foundation for long-term, stable, and accessible lending, borrowing, staking, and hedging products.
Treehouse Project Homepage (TREE)
How does Treehouse work?
Treehouse relies on a cooperative model among parties in the ecosystem:
Users deposit ETH or LST into the protocol to receive tETH, thus earning real yield and utilizing tETH on DeFi platforms.
Operators are the creators of DOR Feeds. Treehouse will manage the first DOR, which is TESR (Treehouse Ethereum staking rate).
Participants (verified) will provide interest rate data or forecasts, betting on TREE/tAssets to ensure accuracy.
Delegators are those who own tETH and delegate to committee members to commit to creating DOR, while still retaining ownership of the tokens.
Auditors integrate DOR Feed into financial products such as lending, swaps, or derivatives pricing.
Clients are the end users who benefit from fixed income products or arbitrage or staking on tETH.
Through the prediction - staking - reward/penalty loop - DOR setup, Treehouse ensures a transparent, objective, and tamper-proof interest rate mechanism.
Treehouse Products
Treehouse develops core products to build a decentralized fixed income infrastructure for digital assets. From staking and interest rate determination to reward distribution, each product is designed to operate seamlessly within the ecosystem.
Ethereum
tETH is Treehouse's first liquid asset - minted when users deposit ETH or LST (like stETH, rETH, cbETH) into the protocol.
Uses:
Gathering real yields through interest rate arbitrage strategies.
It can still be used as collateral on DeFi platforms such as Aave, Compound, Pendle,...
Support economic security for DOR through staking or delegating to committee members.
Goal: Convergence of on-chain ETH interest and provide fixed income solutions for users.
Core tETH Products
DOR - Decentralized Offered Rates
DOR is a decentralized reference rate system, similar to LIBOR/SOFR but on the blockchain.
First DOR: TESR (Ethereum staking rate in Treehouse) - represents the 'risk-free' interest rate for Ethereum.
Activity: Defined by participants depositing TREE or tETH and providing their interest rate predictions. Results will be aggregated and recorded on-chain.
Application: Used by integrated platforms (oracles) to price financial products such as lending, fixed income, derivatives, etc.
DOR - Decentralized Offered Rates
GoNuts points system
The GoNuts points system is a reward system that encourages users to join Treehouse early.
How to earn points:
Send ETH or LST to receive tETH.
Providing liquidity on integrated platforms.
Participate in staking or delegating or contributing to the DOR setup process.
Uses: Nuts points will be used for ranking, distributing TREE, or redeeming incentives within the Treehouse ecosystem.
Highlights of Treehouse
Unifying the interest rate market on ETH: Helps integrate fragmented yields into a risk-free benchmark - similar to government bonds in TradFi.
Liquid staking upgrade: tETH allows users to participate in yield arbitrage while maintaining liquidity and usability in DeFi.
Enhancing economic security: Owning tETH helps ensure the integrity of the DOR system.
Multi-protocol integration: tETH can be used as collateral on Aave, Compound, Euler, Pendle, Gearbox,…
Multi-level incentives: Users can earn yield, accumulate Nuts points, and enjoy airdrops from multiple sources.
Overview of TREE Token and Tokenomics
Basic Information
Token Name: TREE
Token: TREE
Contract: 0x77146784315Ba81904d654466968e3a7c196d1f3
Blockchain: Ethereum (ERC)
Total supply: 1,000,000,000 TREE
Tree Allocation:
Community reward: 20%
Strategic Investors: 17.5%
Development Team: 12.5%
DAO Treasury: 12.5%
Community airdrop: 10%
Ecosystem Fund: 10%
Core Contributors: 5%
Future airdrop: 5.75%
Collaboration with Earth: 3.75%
Providing Liquidity: 3%
Tree Distribution Schedule:
TREE tokens will be gradually released over 48 months, ensuring sustainable distribution and long-term benefits.
Tree Use Cases:
TREE is the utility and governance token of the Treehouse protocol, with the following key functions:
Pay DOR query fees for integrated financial services.
A committee member will participate in the DOR setup process.
Earn rewards from the consensus mechanism based on the accuracy of predictions.
Participation in DAO governance: Proposing and voting on changes within the system.
Grants and ecosystem support: The DAO can grant TREE to integrated Treehouse products.
Roadmap for Q3 2025
Phase two of tAssets (in progress): Expanding and updating the tAssets product line, including support for new LSTs and increasing DeFi integration.
Bamboo Project – Forward Rate Agreement (FRA) Market: Developing and launching a Forward Rate Agreement (FRA) market to support hedging and trading interest rates based on future interest rate predictions.
Direct DOR Rates: Launch direct DOR feeds on-chain, starting with TESR and expanding to other assets.
Integration with major DeFi protocols: Connecting tETH and DOR to platforms like Compound, Aave, Euler, Gearbox,... to expand practical applications.
Launching Gaia: Introducing Gaia - a new product or platform within the Treehouse ecosystem (more details to follow).
Development team, investors, and partners
Treehouse Founding Team
Treehouse is run by individuals with extensive experience in both traditional finance and startup technology:
Brandon J. - Co-founder and CEO
Held positions at major financial institutions such as Wells Fargo and Morgan Stanley
Brandon co-founded Treehouse in 2021, the man behind the project's overall development strategy and operations, representing Treehouse at major events like MooFest 2025 and in-depth podcasts about DeFi Fixed Income.
Brian Joe - Co-founder
Brian has a strong background in travel technology, having founded Host Bully, Dibly, Native, and Travelr (which was acquired by Hotels.com.sg).
At Treehouse, he leads product and design, creating intuitive and cohesive user experiences in products like tETH and TESR.
Ben Loh - Co-founder
Before joining Treehouse, Ben was a venture capital associate at AV/Blue Ivy Ventures, where he gained experience in venture capital and startup analysis.
At Treehouse, he plays a role in linking on-chain technology and data with long-term product strategy.
Treehouse Founding Team
Investment Fund
Strategic round - 04/15/2025
In April 2025, Treehouse completed a strategic funding round with a valuation of $400 million, although the amount raised has not been disclosed.
This round brings in prominent individual investors in the industry such as Jordi Alexander (Selene Capital), Jay Young (Athena), Matthew Tan (Etherscan), Richmond Tio (Paxos Asia-Pacific), Michael Ashby, and Darius Sit (QCP Capital), demonstrating strong confidence in the project's long-term vision to create a fixed income class for DeFi.
Grant – 12/18/2024
Treehouse received a grant from Compound Labs, one of the leading lending protocols on Ethereum. The grant aims to support Treehouse in developing its decentralized interest rate infrastructure and deeper integration into the current decentralized finance (DeFi) system.
The specific amount has not been disclosed, but it represents a significant milestone in strategic relationships.
Seed Funding Round (March 16, 2022)
Treehouse successfully raised $18 million in a seed funding round in March 2022. The round was led by Mirana Ventures and Lightspeed Venture Partners, with participation from YZi Labs (formerly Binance Labs), GSR, Wintermute, Jump Capital, and more than 13 other investors.
This capital is being used to build the first products like tETH and the DOR platform.
Pre-seed (09/15/2021)
In the very early stage, Treehouse successfully raised $2.4 million from strategic investors such as The Brooker Group (main), Coinhako, CRC Capital, and Global Founders Capital.
The pre-seed round forms the basis for market research, economic model development, and recruiting the founding team.
Partner
Treehouse actively engages with leading DeFi protocols to increase product applicability, such as integrating tETH into lending and derivatives protocols: Aave, Compound, Euler, Gearbox, Pendle,…
Deduce
As the decentralized finance (DeFi) market continues to grow and lacks a transparent and stable interest rate benchmark, Treehouse has emerged as a core infrastructure for fixed income on-chain. With its hybrid model combining liquid staking assets (tETH) and decentralized interest rate mechanisms (DOR), Treehouse not only generates real yields for users but also opens the door for developing specialized financial products such as fixed lending, interest rate hedging, and derivatives.
Thanks to a seasoned team and support from massive investment funds, Treehouse is gradually establishing itself as the 'LIBOR of decentralized finance' - becoming a bridge between the traditional financial system and the new generation of decentralized finance. If fixed income is the missing piece in decentralized finance, Treehouse is the team of engineers building that long bridge, with transparency, sustainability, and decentralization.
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