It’s been a big month for Flying Tulip! We launched Trade, Total Return Swap (TRS) and Rewards, introduced automatic compounding for ftUSD through ssftUSD, and rolled out our product suite on BNB Chain. Lending capacity increased, asset support expanded, and users gained additional ways to mint ftUSD. September brought
Flying Tulip has expanded asset support on BNB Smart Chain with four new listings on Lend: BTCB, ETH, WBETH and QQQB. Users can supply these assets to earn additional yield, use them as collateral to borrow on Lend, deploy their borrowing power for spot or leveraged trading on Trade, or
Flying Tulip has expanded asset support across Lend, adding new ways for users to earn, borrow, trade and hedge from the same integrated account. Three additional stablecoins can also now be used to mint ftUSD. ftUSD is Flying Tulip’s native stablecoin and settlement asset. Yield is generated by deploying
Flying Tulip is a unified onchain financial system: integrated products share the same pricing, collateral and settlement infrastructure. Capital deposited into Flying Tulip earns yield, provides borrowing power, and supports trading and leveraged positions without users having to withdraw and redeploy assets across disconnected protocols. BNB Chain is a natural
Flying Tulip is deploying a sequence of integrated financial products that share the same pricing, collateral and settlement infrastructure. Rather than forcing users to move assets between separate lending markets, trading venues and aggregators, each part of the stack is designed to work with the others, reducing transactions, wrappers, fee
Flying Tulip is designed as a single entry point for onchain finance. Users can already deposit supported assets into a Lend margin account to earn interest and borrow against their collateral, or mint and stake ftUSD to earn yield. Trade is now live on Sonic, extending the same account to
August marks six months since Flying Tulip launched. It was also a strong month for growing the product suite. Lend TVL and ftUSD supply reached new all-time highs, borrowing activity increased, fees and FT buybacks made new daily records, and the next products in the stack moved much closer
Flying Tulip is an on-chain financial system that standardizes pricing, credit and risk across an integrated suite of products. ftUSD provides the liquidity and settlement layer, while Lend provides the account-based margin and capital-efficiency layer. Spot, leveraged trading and Total Return Swaps extend the same collateral and
FT just burned ~$900m of tokens, reducing FDV to ~$100m. txid This is a complete non-event. Tokenomics are not one size fits all. FT tokens could only become pseudo-supply via PUT options. There is no other way for tokens to exist. They are either backed by a PUT
Flying Tulip launched into a brutal market: the October crash hit during the raise, followed by dramatic repeated market-wide selloffs, including around launch. Unlucky timing, but an ideal stress test for the PUT model. Since launch, many participants have exited their positions or withdrawn their FT. Yet that did
Flying Tulip’s model is simple: build novel on-chain financial products by solving critical problems limiting capital efficiency, and by making advanced DeFi strategies easier to use with better UX. As outlined in the April Update, in May we focused on optimizing, hardening and scaling the products already live:
The end of April marks two months since Flying Tulip launched. Since then, the protocol has moved from launch into active rollout, introducing its on-chain PUT execution and AUM system, launching ftUSD as its stablecoin and settlement layer, deploying Margin Lending on Sonic, and enabling the first delta-neutral