When I was writing about Treehouse before, I actually had a picture in my mind: What would the DeFi fixed income sector look like if there really were a 'on-chain interest rate system' that could run? Today, $TREE went live on Bithumb, officially entering the South Korean market, and the price is approaching $0.5 —— Looking back at a few things Treehouse has done, I increasingly feel that it is systematically paving the way for the 'on-chain fixed income market': And now the rhythm of CEX listings is also very steady: Binance → KuCoin → South Korea's Bithumb… This slow-burn approach may not seem explosive, but it is solid. This round of "on-chain interest rate" narrative may have just begun. For those interested, go back and check out my previous research on HODLer airdrops and the Treehouse architecture article — 👉: We are in a gradually forming structure, looking for pieces that have the opportunity to become part of the 'new order'.