More assets on Lend, more ways to mint ftUSD

More assets on Lend, more ways to mint ftUSD

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 the stablecoin collateral backing ftUSD into lending and delta-neutral strategies.

Lend is Flying Tulip’s collateral, borrowing and margin layer. Supplied assets earn interest and can be used as collateral, while the same account connects to Trade for spot and leveraged positions and to TRS for leveraged long or short exposure without requiring ownership of the underlying asset.

New assets on Lend

Six additional assets are now supported on Ethereum:

  • USDe and sUSDe from Ethena
  • crvUSD and scrvUSD from Curve
  • USDG from Paxos
  • wstETH from Lido
crvUSD is a decentralized USD stablecoin created by Curve, fully backed by crypto assets and controlled by smart contracts and the Curve DAO.

scrvUSD is short for savings-crvUSD. By staking crvUSD, holders receive scrvUSD tokens that automatically accrue yield from crvUSD borrowing revenue.

USDe is a crypto-native synthetic dollar utilizing spot assets as backing, onchain custody, and centralized liquidity venues.

sUSDe is the staked form of USDe and the protocol's dollar savings asset. By staking USDe, holders are eligible to receive incentive reward distributions. As rewards accrue to the staking contract, the USDe value of sUSDe increases over time.

stETH is the default token users receive when staking ETH through the Lido protocol. Wrapped stETH (wstETH) is a non-rebasing version of stETH. Unlike stETH, the balance of wstETH remains fixed; instead, the value per unit increases to reflect earned rewards.

USDG is a single-currency stablecoin pegged to the US dollar. It is available for purchase and fully redeemable from Paxos on a one-to-one basis for US dollars (1 USDG = 1 USD).

Users can supply these assets to Lend, earn the applicable supply yield and use them as collateral to borrow.

Yield-bearing assets such as sUSDe, scrvUSD and wstETH remain productive while deposited, allowing users to retain their underlying yield exposure while accessing additional functionality across Flying Tulip.

Because Lend is integrated with the rest of the system, collateral can also support spot and leveraged positions through Trade, while TRS can be used to take long or short exposure to supported assets or hedge existing exposure.

Deposit on Flying Tulip Lend

More ways to mint ftUSD

In addition to USDC and USDT, ftUSD can now be minted with three additional stablecoins:

  • USDe from Ethena
  • crvUSD from Curve
  • USDG from Paxos
Mint ftUSD with USDC, USDT, USDe, crvUSD, or USDG

After minting ftUSD, users can stake into sftUSD to receive their share of yield in bought-back FT, or into ssftUSD to automatically compound their share of the yield into additional ftUSD.

Feedback and issue reports are welcome through Discord.

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