I initially paid attention to this project for two reasons: 1) The founding team comes from quantitative trading, and tech guys tend to be more rigorous in entrepreneurship; 2) Hack invested 20 million USD. I initially thought it was another stablecoin project, but after looking closely, I found out it was focused on infrastructure, which is quite interesting. I’ll share more when I get the chance.
I checked my wallet last week and found 200 USD in thBILL. It felt like finding 1000 bucks of joy when you turn your winter clothes inside out. At that moment, I couldn't remember what this token was, so I really went to Google and remembered that it is called: Theo Short-Term US Treasury Fund, which is the core product of the Theo Network. I even forgot when I deposited it.
🍉 Project background
@Theo_Network's core business is RWA (Real World Asset Tokenization), positioned as an institutional-grade on-chain capital channel. I personally believe it is an infrastructure platform that provides trading services for institutions.
The first product is US Treasury bonds, which is thBILL, the second product is gold, which is thGLD, both are on-chain assets issued by compliant licensed institutions.
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🍍 Financing situation
Raised $20 million in financing, led by the star institution Hack VC with unlimited funding, and co-invested by a large number of market makers and quantitative trading companies such as Amber Group, SCB Limited, and Mirana Ventures.
🔹Personally, I feel that this financing structure, the amount is not the focus. It resembles borrowing in the name of financing to acquire strategic cooperation resources from these major institutions, facilitating the advancement of the main business.
🌈 Founding team
TK Kwon (Co-founder and CEO): Responsible for product and strategy, previously worked at elite trading firms like Optiver and IMC Trading, focusing on market making and handling systems with daily trading volumes of several billion dollars.
Abhi Pingle (Co-founder): Engineering and operations expert, also from Optiver and IMC Trading.
Arijit Pingle (Co-founder): Focused on technical infrastructure, with a similar background.
🔹The three of them previously worked at a high-frequency quantitative trading firm, and there is a rumor in the industry: over 10% of the liquidity in the global commodity options market is provided by these three people.
🔸They are a Korean and 2 Indians. If you do not like Indian projects, you can skip them.
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🪂 Airdrop interaction
The interaction is very simple: deposit money to earn points, enjoy a 4.3% return on US Treasury bonds, and as an on-chain supporter, help the project grow its TVL and user base.
US Treasury bonds are not early stage anymore, but when the gold product launches, it will definitely be early stage, and points will be allocated accordingly.
1) Log in to the official website 🔹
The official website has an invitation code; if you mind, just remove the latter part of the link.
https://app.theo.xyz/invite?invite=Samlayer
Please withdraw USDC to your wallet on the Arb chain first, and prepare for interaction.
2) Exchange for US Treasury bonds 🔸
Careful people will notice that providing LP on Uniswap will grant 1.5 times the points. I deposited in the pool on the Arb chain, which earns both interest and points. This is a DEX option.
You can also click Money Markets to deposit thBILL into Hyperliquid's ecological protocol. I'm not sure if this will allow for double benefits, obtaining Hype's secondary airdrop, which I cannot guarantee.
Uniswap operation steps:
1) Exchange: Convert USDC into THBILL.
2) Add liquidity: You need to add USDC and THBILL in a 1:1 ratio.
Everyone should note that they must leave 50% of USDC to form LP, do not convert all of it into THBILL.
3) Points 🔹
Click on Total Points on the left, and you will enter the weekly distribution details. Each week ends a point cycle on the 5th.
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🍊 Security issues
Recently, I've been worried about the risk of stablecoins decoupling in a bear market. Theo’s US Treasury bonds and gold are managed by the ULTRA fund operated jointly by Standard Chartered Bank Libera and FundBridge Capital, both are licensed compliant large institutions, so there shouldn't be much of an issue.
Chinese community: The official has a Telegram group, interested parties can join: https://t.me/Theo_NetworkCN
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✅ Summary
I don't know when the project will have its TGE. I'm interacting to force myself to save money (preserve wealth), while also earning interest and collecting points for airdrops.
Just a reminder, everyone must not only deposit 100U to qualify for the minimum guarantee. I previously deposited 60 accounts in Openeden for the minimum guarantee, but that beast removed all accounts with deposits under 105, it was exhausting to withdraw.
If you're interested, just play around, everyone is free to do so.
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