DeFi has become a very mature infrastructure, and the main future directions are primarily three: integrating yields, smart arbitrage, and merging with CeFi.
The recently launched project Treehouse on Binance Spot embodies these three directions and can be considered a typical example.
We can use Treehouse to glimpse the future development trends of the DeFi track.
- Transition from Fragmentation to Standardization in DeFi
The current interest rate environment in DeFi is highly fragmented, influenced by liquidity pools, types of collateral, and market sentiment, leading to significant yield fluctuations that cannot support complex fixed-income products like bonds or derivatives.
To address this issue, Treehouse introduces DOR (Decentralized Offered Rates), a decentralized benchmark interest rate framework.
This is a "standard interest rate system" decided collectively, rewarding accurate predictions like a game, thus avoiding manipulation.
It can help develop more products, such as tools for hedging risks. Currently, the first DOR is aimed at the interest rate for Ethereum staking.
This mechanism can become the "anchor point" for DeFi interest rates, similar to how the Federal Reserve's fund rate functions in TradFi.
This also paves the way for institutions to enter DeFi, as institutions are tired of high volatility but favor predictable returns.
- Smart Arbitrage Model
Users can deposit ETH or LSTs (Liquid Staking Tokens, such as stETH, rETH) to earn tAssets (such as tETH) and participate in automated interest rate arbitrage strategies to earn real yields.
In other words, when you deposit Ethereum or similar assets, it will intelligently and automatically "arbitrate" (find high-interest opportunities) in different places, helping you earn annualized returns of 4% or higher.
This is different from traditional staking's passive holding; it actively captures the price differences between borrowing/staking rates, achieving compounded returns of 4% to several tens of percent.
At the same time, tAssets can seamlessly integrate with protocols like Aave and Curve, supporting lending and liquidity provision, forming a closed-loop ecosystem.
- Merging CeFi and DeFi
Previously, everyone viewed DeFi as an independent financial system, but in this cycle, on-chain assets like US stocks and US bonds have emerged in the market.
This means traditional assets are being brought on-chain, merging with on-chain financial infrastructure.
Therefore, the integration of CeFi and DeFi is a major trend.
DeFi needs the stability of CeFi to attract trillions of dollars in institutional funds.
Fixed income is the "missing link" in DeFi and is key to driving mainstream adoption.
Thus, it's not just that CeFi needs DeFi; DeFi also needs CeFi.
Summary
Through the analysis above, we can see that Treehouse acts like a "stable income bank" in DeFi, helping users earn reliable interest with digital assets (like Ethereum) without worrying about chaotic interest rate fluctuations.
Treehouse fills the gap in DeFi, making it easier for ordinary people to earn stable money.
In the long run, if the crypto market rises, Treehouse may become the "benchmark tool" for DeFi, similar to the interest rate standards in traditional finance.
In summary, the positioning of the Treehouse project represents the future development direction of DeFi and is worth paying close attention to.
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