In the blockchain space, interest rate benchmarks have always been a difficult problem to solve. Interest rate benchmarks in the traditional financial world, such as LIBOR, are easy to manipulate and pose the risk of centralized institutions acting unilaterally. However, an innovative system called DOR (Decentralized Quoting Rate) is changing this situation.

The core advantage of DOR lies in its decentralized design philosophy. The system constructs a censorship-resistant interest rate system through a consensus mechanism, providing a more reliable foundation for fixed-income products in decentralized finance (DeFi). In the DOR system, participants are required to submit interest rate predictions and ensure the accuracy of data through a cryptoeconomic incentive mechanism. To prevent data manipulation, all participants need to stake tAssets or TREE tokens, and any errors will result in penalties. This design not only effectively prevents censorship but also makes the interest rate curve more forward-looking, providing a stable benchmark for various lending and swapping products.

tETH in the Ethereum ecosystem (as a representative of tAssets) is a great example of how BOR optimizes arbitrage strategies. Users can deposit ETH to obtain tETH, which not only allows them to earn PoS rewards but also helps them avoid market volatility risks through the anti-censorship features of BOR. In this process, the TREE token plays an important role as a payment tool for query fees, ensuring a healthy cycle for the entire ecosystem.

The anti-censorship capability of DOR stems from its adoption of the distributed nature of Blockchain. The system is jointly maintained by operators and delegators, effectively preventing the possibility of any single entity dominating the situation. In the future, DOR is expected to expand into a multi-chain environment, and the governance rights of TREE tokens will empower the community to determine the direction of the system's development.

This innovation not only addresses the pain points in traditional financial systems but also paves new development paths for DeFi, promoting the true democratization of fixed-income products. The emergence of DOR has freed interest rates from the constraints of centralization, while the TREE token has become the fuel for this anti-censorship revolution, driving the entire ecosystem towards a more equitable and transparent direction.

With the continuous improvement of the DOR system and the expansion of its application scope, we can foresee that it will play an increasingly important role in the future decentralized finance world, providing users with safer and more reliable financial services.