Trevee

Trevee is a unified ecosystem of incentive and yield products developed by Mithras Labs, consolidating previous projects like Paladin's Quest platform and Rings protocol. It features two flagship products: Trevee Earn, a savings product generating competitive yield on USD, ETH, and BTC meta-assets across multiple chains, and Trevee Quest, a platform for acquiring gauge votes for veToken/vlToken systems like Curve and Balancer with targeted incentive campaigns.

Trevee Earn generates yield by taking user deposits in meta-assets (like scUSD, scETH, scBTC, and plUSD) and placing them into Veda BoringVaults — tested infrastructure that sends those assets to a carefully chosen set of DeFi strategies considered safest.

On the Sonic chain, deposits flow into two kinds of Veda BoringVaults:

• Collateral vaults — these hold assets used to mint scAssets (the vault's receipt tokens).
• Opt-in staking vaults — these generate yield through integrations with Sonic's DeFi ecosystem.

The design draws ideas from two earlier models: Blast's approach to making bridged capital efficient, and Solidly's ve(3,3) incentive system.

For users who stake their scAssets, yield is distributed in one of two ways:

• Weekly Merkle tree claims — a gas-efficient method to collect rewards.
• Auto-compounding wrapper tokens (wstkscUSD / wstkscETH) — these automatically reinvest yield.

A key piece is the Safety Module. Users who stake $TREVEE help protect the Earn product, and in return they receive a share of the protocol's revenue. This creates a cycle (a "flywheel") that helps keep the protocol solvent. Revenue for $TREVEE stakers will start flowing after the Trevee Foundation is established; in the meantime, revenue is being stockpiled for future distribution.

The entire architecture is designed to expand to multiple blockchains, with each chain getting its own custom setup.

Trevee (formerly Paladin) raised a $2.55 million seed round in September 2021 led by Greenfield One, with participation from Galaxy Digital, NFX, Semantic, and almost twenty angels. In March 2022, the Paladin DAO conducted a Liquidity Bootstrapping Event (LBP) with 1,000,000 PAL tokens and $200,000 from the DAO for price discovery. No later funding rounds have been disclosed in official sources since the rebrand to Trevee.