The core tools of traditional finance have been launched on-chain for the first time! @TreehouseFi and @FalconXGlobal have just introduced the first Ethereum staking rate forward contract, TESR FRA, marking an important milestone in DeFi history. To understand FRA simply: If your current ETH staking yield is variable, it might be 4% today and 3.5% tomorrow. But with FRA, you can lock in a yield for a future period, such as securing a 4.2% annualized return for the next 6 months. ————————————————————————— Problems solved by FRA: 1️⃣ Yield certainty Funds no longer need to bear the risk of staking yield fluctuations and can plan cash flow in advance. 2️⃣ Speculative opportunities Those bullish on future rates can go long on the forward contract, while those bearish can go short. 3️⃣ Complex strategy building By combining multiple FRAs of different maturities, one can construct interest rate swap (IRS) strategies. ————————————————————————— From a technical perspective, TESR (Treehouse Ethereum Staking Rate) serves as the benchmark rate, publishing real on-chain staking yield data daily. This provides a reliable pricing foundation for the entire derivatives market. Institutional participation is already high: August, Edge Capital, and RockawayX have begun trading. ————————————————————————— The most significant meaning of this collaboration is that the fixed income market is the largest asset class in traditional finance, with a market size of up to $500 trillion. Now, this mature risk management tool has finally come on-chain. When ETH stakers can manage interest rate risk, the maturity of the entire DeFi ecosystem will experience a qualitative leap. This is not just a simple product innovation, but an upgrade of infrastructure. The era of fixed income DeFi has officially begun, so hurry up and join through $TREE!