Ask about Flying Tulip
Logo of Flying TulipFlying Tulip(FT)
Total Value Locked$13.36m

TVL by Chain

Ethereum$12.89m

Sonic$470,180.52

Key Metrics

Fees (Annualized)$7.35m
Fees 30d$145,388.18

Ethereum$142,279.79

Sonic$3,107.72

Fees 7d$51,759.46

Ethereum$50,974.63

Sonic$785.14

Fees 24h$4,141.07

Ethereum$4,033.84

Sonic$107.07

Cumulative Fees$4.15m

Ethereum$4.14m

Sonic$10,598.79

Revenue (Annualized)$7.34m
Revenue 30d$140,840.54

Ethereum$140,718.36

Sonic$120.87

Revenue 7d$50,753.68

Ethereum$50,723.57

Sonic$30.09

Revenue 24h$4,014.07

Ethereum$4,014

Sonic$0.07

Cumulative Revenue$4.14m

Ethereum$4.14m

Sonic$2,899.94

Holders Revenue (30d Run Rate)$0
Holders Revenue 30d$0

Ethereum$0

Sonic$0

Holders Revenue 7d$0

Ethereum$0

Sonic$0

Holders Revenue 24h$0

Ethereum$0

Sonic$0

Cumulative Holders Revenue$0

Ethereum$0

Sonic$0

Market Cap$53.78m

$FT Price$0.099

All Time High$0.3

All Time Low$0.067

View $FT token page

$117.99m

$FT Volume 24h$252,940

CEX Volume$108,512

DEX Volume$146,692.58(58% of total)

Active Loans$1.37m

Treasury$48.31m

$9.06m

Stablecoins$39.21m

Own Tokens$2,903.74

Others$29,031.1

Total Raised$431.5m

Sep 29, 2025$200mRound: SeedInvestors: Brevan Howard, DWF Labs, CoinFund, Hypersphere Ventures, Lemniscap, Selini Capital, Nascent, Tioga Capital, FalconX, Sigil Fund, Virtuals Protocol, Republic Digital

Jan 29, 2026$25.5mRound: Series AInvestors: Amber Group, Fasanara Capital, Paper Ventures

Feb 23, 2026$206mRound: Public token sale

Protocol Information

Flying Tulip is a unified onchain financial system spanning ftUSD, lending, spot trading, derivatives, insurance, collateral management, and settlement.

Category:Lending

WebsiteTwitterSafe Harbor Agreement

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Flying Tulip Yield - Yield generated from deposited assets in Flying Tulip wrappers + marketplace fees from PUT trades.View code on GitHubFlying Tulip Lend - Sum of (a) borrower interest accrued across every Lend reserve, (b) leverage trading fees from LeverageRfqEngine open/close/collateral-swap events, and (c) RFQ liquidation fees from RfqEngine.View code on GitHubFlying Tulip ftUSD - Mint and redeem fees charged by the ftUSD MintAndRedeem engine on every mint/redeem, summed from Minted and Redeemed events.View code on GitHub

Revenue:

Flying Tulip Yield - Protocol revenue from claimed yield.View code on GitHubFlying Tulip Lend - Leverage trading fees and RFQ liquidation fees flow to the Flying Tulip treasury via feeCollector and liqFeeCollector. Borrower interest does not retain a protocol cut on chain.View code on GitHubFlying Tulip ftUSD - All ftUSD mint/redeem fees are sent to the Flying Tulip treasury via sweepFees, so revenue equals fees.View code on GitHub
Holders Revenue: View code on GitHub

Yields

Pools Tracked2

Average Supply APY8.62%

Competitors

Aave V3 ($14.126b)Morpho Blue ($7.968b)Euler V2 ($354.87m)Gearbox ($17.36m)Silo V2 ($5.58m)SparkLend ($3.682b)Maple ($2.428b)Compound V3 ($1.129b)Venus Core Pool ($1.074b)Lista Lending ($720.67m)

Frequently Asked Questions

What is Flying Tulip?

Flying Tulip is a unified onchain financial system spanning ftUSD, lending, spot trading, derivatives, insurance, collateral management, and settlement.

What is Flying Tulip's TVL?

Flying Tulip currently has $13.36m in total value locked. TVL has increased 17.6% over the past 30 days.

What chains does Flying Tulip operate on?

Flying Tulip operates on 2 chains: Ethereum and Sonic. Ethereum holds the largest share at 96.5%.

How much has Flying Tulip generated in fees and revenue?

Over the past 30 days, Flying Tulip generated $145,388.18 in fees. Of that, $140,840.54 was protocol revenue. Based on the trailing year, the annualized rate is $7.35m in fees and $7.34m in revenue.

What is the FT token price and valuation?

FT is currently trading at $0.098. Its circulating market capitalization is $53.55m, ranking it #545. Its fully diluted valuation is $117.49m. Supply currently stands at 545.65m circulating, 1.197b total supply, 10b maximum supply.

How has FT performed recently?

FT is up 0% over the past 7 days and up 7% over the past 30 days. Its all-time high is $0.3, reached on Feb 23, 2026. The token is currently 67.3% below that level.

Which protocols are included in Flying Tulip?

Flying Tulip is a parent protocol whose tracked products include Flying Tulip Lend, Flying Tulip ftUSD, and Flying Tulip Yield.

How much has been borrowed through Flying Tulip?

Flying Tulip currently has $1.37m in active loans.

Does Flying Tulip have a treasury?

Flying Tulip has a tracked treasury currently valued at $48.31m. Its holdings include $39.21m in stablecoins, $9.06m in major assets, $2,903.74 in its own tokens, $29,031.1 in other assets.