Treehouse
Treehouse is a Singapore-based decentralized finance protocol building fixed income infrastructure for digital assets, offering liquid staking tokens (tETH, tAVAX, tHYPE) and a decentralized benchmark rate mechanism (DOR/TESR) to DeFi users, institutional capital allocators, and protocols.
- Company typePrivate
- Founded2022
- HeadquartersSingapore, Singapore
- Headcount51–100
- GTM typeB2B and B2C
- OfferingSoftware
What Treehouse does
Treehouse is a decentralized finance protocol building fixed income infrastructure for digital assets, operated by Gaia Labs Corp (incorporated in Panama) and headquartered in Singapore. The company's core offering combines two product lines: tAssets (liquid staking tokens including tETH, tAVAX, and tHYPE) that capture yield through interest rate arbitrage strategies on top of underlying protocols like Lido, Aave, and Benqi; and DOR (Decentralized Offered Rates), a consensus mechanism that aggregates interest rate forecasts from a panel of market-makers, oracles, staking infrastructure providers, and exchanges to produce on-chain benchmark rates. The flagship DOR feed, TESR (Treehouse Ethereum Staking Rate), provides a yield curve analogous to SOFR/LIBOR and is designed to anchor the development of DeFi fixed income primitives such as forward rate agreements, interest rate swaps, and fixed-tenure loans.
The protocol operates across Ethereum, Avalanche, Arbitrum, Base, TAC, and Hyperliquid, with a self-serve web application (app.treehouse.finance) as the primary user interface. Treehouse generates revenue through transaction and protocol fees on tAsset operations, with 50% of tETH yield product fees committed to a recurring TREE token buyback program. The TREE token governs the Treehouse DAO, which oversees protocol parameters via Snapshot voting and a governance forum. The company has onboarded 10+ DOR panelists (Staking Rewards, Luganodes, Everstake, Republic, RockX, Pier Two, MatrixedLink, A41, LinkPool, CESR) and secured a flagship institutional partnership with AVAX One for on-chain capital allocation.
Treehouse serves three primary customer segments: retail DeFi users seeking enhanced staking yields through tAssets; institutional capital allocators (e.g., AVAX One) deploying on-chain treasuries; and DeFi protocols/platforms that integrate DOR benchmark rates into their own products as Referencers. The company raised an $18 million seed round in March 2022 led by an undisclosed large FinTech investor, with participation from Binance, Mirana, MassMutual Ventures, Lightspeed, Jump Capital, Wintermute, GSR, and other crypto-native funds. In November 2023, Treehouse acquired Origins Analytics to expand NFT data capabilities. TREE token was listed on Revolut in May 2026, extending retail distribution.
Treehouse firmographics
Firmographics- Name
- Treehouse
- Legal name
- Gaia Labs Corp
- Website
- https://treehouse.finance
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Treehouse is a Singapore-based decentralized finance protocol building fixed income infrastructure for digital assets, offering liquid staking tokens (tETH, tAVAX, tHYPE) and a decentralized benchmark rate mechanism (DOR/TESR) to DeFi users, institutional capital allocators, and protocols.
- Ownership category
- akta.pro rank
Treehouse industry classification
Industry- Product category
- Decentralized Fixed Income Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Staking, Restaking & Liquid Staking Finance (LST/LRT, validator markets) (FSAPAEAH)
- akta.pro secondary industries
- Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG), Lending Protocol Infrastructure (Oracles, Rate Models, Vaults) (FSADAFAN), Yield Aggregators & Strategy Vaults (FSADAMAF), DAO Treasury, Governance & On-Chain Finance Tools (FSADAMAL), Treasury Management & Corporate Crypto Yield Programs (FSADAHAL)
Keywords
Where Treehouse is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
Treehouse business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Revenue model
- Transaction / Protocol Fees on tAssets: Transaction fees are charged to users for Treehouse-related transactions executed through the Treehouse Protocols (deposits, redemptions, staking, and arbitrage operations). Fees are debited from users' blockchain-compatible wallets. The fee structure is subject to variation through on-chain governance.
- tETH Yield Product Fees: The protocol collects fees from its tETH yield product. 50% of these fees are committed to a recurring TREE token buyback program, executed on the open market. This represents protocol revenue derived from the operation of its liquid staking strategies.
- TREE Token Utility: TREE token serves governance functions within Treehouse DAO. While the token itself is not a revenue stream, its utility supports protocol governance and, indirectly, treasury management through the buyback program funded by protocol fees.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Treehouse product offering
Product offeringCore offering
Treehouse is a decentralized fixed income infrastructure protocol that issues liquid staking tokens (tAssets — tETH, tAVAX, and tHYPE) which let users earn enhanced yields via automated interest rate arbitrage strategies. It operates DOR (Decentralized Offered Rates), an on-chain consensus mechanism that aggregates interest rate forecasts from a network of Panelists, Operators, Referencers, and Delegators to produce benchmark rates (e.g., TESR) for DeFi fixed income products such as FRAs, IRS, and fixed-tenure loans.
Product overview
Treehouse is a decentralized fixed income infrastructure platform built as a protocol combining liquid staking (tAssets) and benchmark rate-setting (DOR) into a unified system. Its core product, tAssets (including tETH and tAVAX), offers liquid staking tokens that enable users to earn enhanced yield through interest rate arbitrage strategies, converging fragmented on-chain rates to risk-free rates. Complementing this, DOR (Decentralized Offered Rates) is a consensus mechanism that establishes benchmark yield curves through a network of panelists, operators, referencers, and delegators, enabling fixed income products such as FRAs and interest rate swaps in DeFi. The TREE token serves as the governance token. Treehouse operates across Ethereum, Avalanche, Arbitrum, Base, and TAC chains.
Differentiator
Problem solved
Functional benefit
Brands
- tAssets: Liquid staking tokens (tETH, tAVAX) that provide enhanced ETH/AVAX staking yields through interest rate arbitrage strategies on Ethereum, Avalanche, and other chains.
- DOR (Decentralized Offered Rates)
- Treehouse Protocol
- TREE Token
- Harvest
Products and services
- tAssets (tETH, tAVAX, tHYPE) Liquid staking tokens (tETH, tAVAX, tHYPE) that enable users to earn enhanced yield above native staking rewards through automated interest rate arbitrage strategies. tETH is built on top of Lido, tAVAX on Benqi and Aave, and tHYPE on Hyperliquid. Designed for DeFi users and institutional capital allocators seeking predictable, risk-adjusted yields across multiple chains.
- DOR (Decentralized Offered Rates) A consensus mechanism for decentralized benchmark rate setting in DeFi, aggregating forecasts from Panelists (market-makers, oracles, staking houses, exchanges) equipped with proprietary models and Treehouse DOR software. DOR feeds are governed by Operators, Delegators, and Referencers, and serve as reference rates for fixed income products (FRAs, IRS, floating/fixed loans). Designed for DeFi protocols, exchanges, and platforms building fixed income primitives.
- TESR (Treehouse Ethereum Staking Rate) The first DOR feed, providing a benchmark yield curve for Ethereum staking rates across maturities. Powers benchmark-anchored fixed rate markets and enables construction of FRAs, IRS, and fixed-tenure loan products priced against an on-chain Ethereum staking reference rate.
- TREE Token Governance token of Treehouse Protocol enabling TREE holders to participate in DAO governance via Snapshot voting and the Governance Forum. Listed on Revolut for retail accessibility.
- TREE Staking Staking mechanism enabling TREE token holders to stake their tokens with DOR to earn protocol rewards.
Quantifiable outcome
- tETH users earn enhanced ETH staking yields in excess of standard staking rewards through interest rate arbitrage
- +3 more outcomes
Companies that use Treehouse
Customer profileSegments3 records
Ideal customer profiles3 records
Treehouse technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Treehouse partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, flagship and minor.
- CESRcoreCESR joined DOR as a panelist providing the Treehouse Ethereum Staking Rate benchmark, contributing to the decentralized rate consensus mechanism. CESR adds to the panel's diversity of rate forecasting approaches.
- AVAX OneflagshipAVAX One established a strategic partnership with Treehouse in March 2026 (publication date March 2026) to expand institutional on-chain capital allocation. AVAX One targets approximately 6% staking yield by staking over 800,000 AVAX tokens on Avalanche, diversifying and maximizing yield on its treasury holdings. This partnership expands institutional adoption of Treehouse's yield infrastructure.
- EverstakecoreEverstake joined Treehouse as a DOR Panelist for TESR in March 2025. Everstake is a leading blockchain infrastructure provider contributing rate forecasts and data to the DOR consensus mechanism.
- RepubliccoreRepublic joined Treehouse Protocol in January 2025 to establish the TESR Curve as a DOR Panelist. Republic brings its platform infrastructure and user base to contribute to the consensus mechanism for ETH staking rate benchmarks.
- Pier TwocorePier Two joined Treehouse as a DOR Panelist for the Ethereum Staking Rate in January 2025, contributing proprietary rate forecasting to the DOR consensus mechanism.
- MatrixedLinkcoreMatrixedLink joined Treehouse in December 2024 to enhance the Treehouse Ethereum Staking Rate as a DOR Panelist, adding data and rate forecasting capabilities to the DOR ecosystem.
- RockXcoreRockX joined Treehouse as a new DOR Panelist for the Treehouse Ethereum Staking Rate (TESR) in December 2024. RockX contributes blockchain infrastructure and staking expertise to the DOR consensus mechanism.
- LuganodescoreLuganodes, a Swiss-operated, non-custodial blockchain infrastructure provider, joined Treehouse Protocol as a DOR Panelist in November 2024. Luganodes supports 45+ PoS networks including Ethereum and Avalanche, holds an AAA rating on Staking Rewards with over $2.5B in assets staked, and contributes to the TESR curve via its real-time rate calculation tools (Luganodes Terminal).
- Staking RewardscoreStaking Rewards joined Treehouse Protocol as a DOR Panelist in November 2024. Founded in 2018, Staking Rewards is a leading staking data platform that has facilitated staking access for over 3 million individuals and enterprises across 100+ blockchains. As a panelist, it contributes precise forecasting for the TESR within DOR, leveraging its robust data API delivering over 1,250 unique data points across 167 assets and 100,000+ validators.
- A41coreA41 joined Treehouse Protocol in November 2024 to strengthen the DOR Panel, contributing its infrastructure and data capabilities to the rate consensus mechanism.
- LinkPoolcoreLinkPool joined Treehouse as a new DOR Panelist in November 2024, contributing its blockchain infrastructure capabilities to the DOR consensus for benchmark rate setting.
- Gaia FoundationminorThe Gaia Foundation is referenced as a partner in the Treehouse Ecosystem (listed under 'Company' on treehouse.finance). The relationship appears strategic, with the Gaia Foundation aligned with Treehouse's mission in decentralized finance.
- RevolutcoreRevolut listed the TREE token on its platform in May 2026, expanding retail accessibility of the TREE governance token to Revolut's millions of users. This is a significant listing partnership for token distribution.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Treehouse competitors and assessment
Company assessmentDirect peers
- Pendle Finance: Pendle is the leading DeFi yield-trading protocol that lets users tokenize and trade future yield via Principal Tokens (PT) and Yield Tokens (YT). It is the closest direct competitor to Treehouse in building on-chain fixed income primitives, with overlapping target users (DeFi yield optimizers) and similar strategy-vault product mechanics.
- Lyra Finance: Lyra is an options AMM that enables on-chain options trading and structured yield products, often positioned alongside fixed-income primitives. It overlaps with Treehouse in serving DeFi users seeking sophisticated interest-rate and volatility exposure on-chain.
- Element Finance: Element pioneered DeFi fixed-income primitives (eTokens, yTokens) for yield stripping, directly comparable to Treehouse's mission of building on-chain fixed income. Both target the same problem (lack of standardized yield curves) with structurally similar approaches.
- Ribbon Finance: Ribbon is a structured products protocol offering automated options vaults (e.g., covered calls, puts) that produce enhanced yield. It overlaps with Treehouse's tAssets as competing yield-enhancement strategies for crypto holders, with a similar DeFi-native target user.
- Notional Finance: Notional is a DeFi lending protocol built around fixed-rate, fixed-term borrowing and lending using fCash primitives. It shares Treehouse's mission of bringing traditional fixed-income structures (fixed-rate lending) on-chain, with comparable target customer (institutional-grade fixed-income users).
- Spectra Finance: Spectra (formerly APWine) is a DeFi yield-trading protocol letting users tokenize and trade future yield. It directly competes with Treehouse in the fixed-income / yield-tokenization category, targeting overlapping institutional and retail DeFi users.
Broad incumbents
- Frax Finance: Frax is a stablecoin issuer that expanded into liquid staking (sfrxETH) and broader DeFi infrastructure. As a multi-product DeFi incumbent with liquid staking and treasury management offerings, it competes with Treehouse for institutional treasury allocations and LST market share.
- Lido Finance: Lido is the dominant liquid staking protocol for ETH (stETH), and Treehouse's tETH is explicitly built on top of Lido. While Lido is a much broader incumbent (largest LST by TVL), it is the underlying primitive whose rate benchmark Treehouse's TESR aims to formalize — making it both dependency and indirect competitor.
Emerging players
- Convex Finance: Convex optimizes Curve LP yields via boosted CRV rewards, analogous to how Treehouse's tAssets optimize LST yields via arbitrage. While Curve-focused, Convex represents the same architectural pattern of yield-aggregation vaults that Treehouse competes with in the LST/yield space.
- EigenLayer: EigenLayer pioneered the restaking category on Ethereum, enabling ETH-secured validation for additional services. Treehouse's tAsset architecture incorporates restaking points and is closely adjacent to EigenLayer's restaking narrative, creating both competitive overlap (LRT category) and ecosystem complementarity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Treehouse social profiles
Digital presenceTreehouse compliance and trust
Trust signalCompliance7 records
Treehouse financial estimates
Financial estimateRevenue estimate
Valuation estimate
Treehouse leadership team
Management profileNumber of profiles
Treehouse subsidiaries and ownership
Company hierarchySubsidiaries1 record
Treehouse funding detail
Funding detailFunding overview
Funding rounds2 records
Investors24 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Treehouse M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Treehouse
What does Treehouse do?
Treehouse is a decentralized fixed income infrastructure protocol that issues liquid staking tokens (tAssets — tETH, tAVAX, and tHYPE) which let users earn enhanced yields via automated interest rate arbitrage strategies. It operates DOR (Decentralized Offered Rates), an on-chain consensus mechanism that aggregates interest rate forecasts from a network of Panelists, Operators, Referencers, and Delegators to produce benchmark rates (e.g., TESR) for DeFi fixed income products such as FRAs, IRS, and fixed-tenure loans.
Is Treehouse a public or private company?
Treehouse is a private company. It is classified as venture growth investor backed and is currently operating.
When was Treehouse founded?
Treehouse was founded in 2022. It employs 51 to 100 people.
Where is Treehouse based?
Treehouse is headquartered in Singapore, Singapore, in the Asia region.
How does Treehouse make money?
Three revenue lines are on record. Transaction / Protocol Fees on tAssets are the primary driver. The others are tETH Yield Product Fees and TREE Token Utility.
Who are Treehouse's main competitors?
Direct peers on record are Pendle Finance, Lyra Finance, Element Finance, Ribbon Finance, Notional Finance and Spectra Finance. Broad incumbents are Frax Finance and Lido Finance. Emerging players are Convex Finance and EigenLayer.
Does Treehouse have an API?
No public API is recorded for Treehouse.
What industry is Treehouse in?
Treehouse's product category is Decentralized Fixed Income Infrastructure. Its primary akta.pro industry code is FSAPAEAH, Staking, Restaking & Liquid Staking Finance (LST/LRT, validator markets), with a secondary code of FSAPAEAG, Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield). Its NAICS code is 522320 and its SIC code is 6200.