On June 4, Treehouse announced that its on-chain benchmark rate TESR (Treehouse Ethereum Staking Rate) has been integrated with Euler to launch the first fixed-rate lending market anchored to a benchmark rate in DeFi. Users can use tETH or wstETH as collateral to borrow WETH, with the borrowing rate locked at the TESR 30-day consensus rate at the beginning of each monthly cycle, remaining unchanged throughout the cycle. This eliminates the uncertainty brought by fluctuations in borrowing rates. The initial markets launched include tETH/WETH and wstETH/WETH. The market is professionally managed and risk-controlled by the DeFi treasury management agency KPK, providing institutional-level security and liquidity. Treehouse stated that this move offers DeFi users a new fixed-rate lending option, aiming to reduce the risk of borrowing cost fluctuations and further promote the development of on-chain interest rate markets.