> For the complete documentation index, see [llms.txt](https://docs.treehouse.finance/protocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.treehouse.finance/protocol/borrowing-rate-tebr.md).

# Borrowing Rate (TEBR)

Treehouse Ethereum Borrowing Rate (TEBR) is a consensus-derived borrowing rate that represents the cost of capital across Ethereum’s decentralized lending markets. By aggregating borrow rates across leading protocols, TEBR provides a transparent and reliable benchmark for pricing risk and informing financial decisions within the Ethereum ecosystem.