Treehouse: accumulating Nuts points
Treehouse is a decentralized application consisting of two new primitives that enable the creation of fixed income products in digital assets — Treehouse Assets (tAssets) and Decentralized Offered Rates (DOR).
The team managed to raise $20.4 million in two investment rounds in 2021 and 2022. The pre-seed fundraising round brought in $2.4 million, which was led by The Brooker Group. The remaining $18 million came from Mirana Ventures, Lightspeed Venture, Binance Labs and others.
The platform’s functionality involves users contributing ETH to the protocol, in return receiving tETH, an LST asset that provides owners with passive income.
On September 26, 2024, the project team announced the launch of the GoNuts rewards program. The initiative aims to encourage users to contribute ETH to staking by earning Nuts points, which are accrued daily based on the tETH balance in the wallet.
With 0.1 tETH, the number of Nuts received is 1 per day. There is a system to increase this figure if you increase the funds held in the native LST asset. More details — at the link.
At the time of writing, the protocol has a limit of 60 000 ETH on the total number of funds deposited and it has been reached so far. The team is repeatedly raising the limits and it’s worth joining the project’s social networks to make sure you don’t miss the relevant news.
As for the potential airdrop, its probability is indicated by the previously mentioned GoNuts campaign and, according to the documentation, the team’s direction towards decentralization, which is very often achieved by implementing its own token.
Important: to qualify for campaign rewards, the deposit must be more than 0.02 ETH equivalent.
In this guide we will take a closer look at the activity and show you the step-by-step steps of its execution.
Guide to completing the activities
Note: you need a Metamask wallet to complete this activity. If you don’t have it, you can use our guide to set up and customize it.
Since at the moment of writing the main pool for ETH deposit is closed and tETH is not available for receiving, in this guide we will consider an alternative option with cmETH asset in Mantle network, which allows you to accumulate points of a number of protocols, including Treehouse, Symbiotic, Karak and others in the same amount as tETH.
To obtain cmETH by exchanging assets, you can use the Native service. Replenishment of the Mantle network was described earlier in the material.
- On the site connect the wallet. In the Refferals section activate the code UJE1F to increase the receipt of points by 5%.
Note: you may need to activate VPN-service.
- Go to the Deposit section and select the available pool:
- Specify the desired amount of asset and confirm the deposit.
Note: the amount on the screenshot is arbitrary and does not need to be repeated.
- Invite friends through referral program to get additional Nuts.
Conclusion
Fulfillment involves operating with real funds, which is always accompanied by the risk of losing them. The campaign to accumulate points started at the end of September 2024 and at the time of writing continues for two months. Thus, a number of users have an advantage in the number of Nuts because they started farming earlier. However, the leaderboards are different for each of the networks and in Mantle the competition is equal.
At the same time, protocols that involve ETH restacking activity have not seen significant aidrops and profits from giveaways have often resembled an increased APY per deposited amount.
Highlights:
- commission costs are present;
- requires asset lock-in;
- investments over $20 million;
- worth capturing activity through the Ethereum network, in case the deposit limit is increased.
If you have any questions while going through the activity, you can ask them in our X.
All information is provided for educational purposes only and should not be used as a basis for making investment decisions, nor should it be considered as a recommendation or advice to participate in investment transactions. Do Your Own Research.
It will be interesting
