In traditional finance, clearing is called the "cornerstone of trust." Today, @TreehouseFi has teamed up with Pascal to bring this logic on-chain, launching the first pilot for **smart clearing**. This innovation focuses on the TESR Forward Rate Agreement (FRA): FRA is a standard tool in the interest rate market that allows you to lock in future rates today. Applied to ETH staking yields, this means investors can secure predictable returns in advance, no matter how rates fluctuate later. Why is this important? ✅ Smart clearing makes transactions safer: reduces counterparty risk ✅ Improves capital efficiency: faster settlements, better fund utilization ✅ Opens doors for institutions: unlocks "institution-grade clearing" for structured yield products This is not just a pilot but a critical missing piece for fixed income in DeFi. Starting with ETH staking rates, it could expand to broader markets like commodities, energy, and more in the future. As Pascal's CEO put it: "The next chapter of DeFi is not just about execution but building a decentralized clearing infrastructure that capital markets can rely on." It’s safe to say this is not only a breakthrough for Treehouse × Pascal but also a potential key step for DeFi fixed income to go mainstream.