> 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/lending-rate-telr.md).

# Lending Rate (TELR)

Treehouse Ethereum Lending Rate (TELR) is a market-driven interest rate that reflects the cost of supplying liquidity across major Ethereum lending protocols. By aggregating lending rates across leading protocols, TELR serves as a benchmark for capital efficiency, helping protocols, traders, and risk managers assess real-time market conditions and optimize yield strategies.