Summary $BANK @Lorenzo Protocol

  • Still follows the Plasma stablecoin-chain narrative.

  • Mechanism is currently not meaningfully different from XPL.

Theo

https://theo.xyz/

Positioning

  • Bridges on-chain capital to global financial markets (including U.S. Treasury RWA and quant strategies), with thBILL as its flagship short-term U.S. Treasury product.

Pre-deposit Purpose

Currently focused on RWAs—allocating funds to short-term U.S. Treasuries to generate yield.

Cap / Locking

  • Theo’s campaign is divided into four phases, with snapshots and explicit per-phase deposit caps.

  • Withdrawals are allowed anytime, but exiting before TGE incurs a reward penalty (up to 20% reduction).

Yield / Expectations

  • thBILL yield mirrors prevailing short-term U.S. Treasury rates (not a fixed APY).

Points Structure

  • Standard deposit points.

  • Uniswap LPs currently earn up to 1.5× points; Pendle positions earn 1.1×.

External Integrations

  • Its largest pool is on Uniswap.

  • Integrated with Pendle (TVL ~$30M; PT yield ~10%; LP pool yield ~20% when including Pendle bribes).

  • thBILL is accepted as collateral on Morpho with 94.5% LTV; curated by reputable entities like MEV Gauntlet.

  • thBILL is considered a high-quality RWA asset.