Daniel G

May was the month Flying Tulip’s margin-based Lend expanded across Sonic and Ethereum. Without token incentives or points, Lend TVL grew from $1.76M on April 30 to $6.44M on May 25. ▸ Lend lets users supply assets and earn yield, gives borrowers access to liquidity, enables delta-neutral strategies for ftUSD, and establishes the infrastructure for Spot, Leverage Trading, and TRS. ▸ Lend yield comes from two sources: borrower interest on used capital, and strategy yield on idle, not-borrowed capital. ▸ Spot will also be integrated with Lend. Limit orders are signed intents with a minimum price and expiry; while waiting to be filled, assets can remain deposited in Lend and continue earning yield in bought-back and distributed ethereum:0x5dd1a7a369e8273371d2dbf9d83356057088082c.

Flying Tulip Weekly Update - May 22 ETH Lend is growing, with collateral and borrow caps increased for BTC, USDC, and USDT. Margin Lending TVL is now above $5M, while ftUSD total supply crossed $2M — all without points or active incentives. More stats in reply 👇

5.41% APY base on USDT & USDC, before even calculating incentives / points / liquid incentives. flyingtulip.com/ftusd/

ETH Lend is growing. Caps increased for BTC, USDC, and USDT.

Flying Tulip's stablecoin $ftUSD total supply now over $2M, Margin Lending TVL now over $5M - No incentives, no subsidies and no points programs. ➡️ Deposit USDT/USDC/USSD, mint ftUSD with 5.3% APY on Ethereum or 4% APY on Sonic. ➡️ Deposit USDC on Lend, earn 3.64% on Ethereum, 2.88% APY on Sonic. Borrow USDC 1.54% on Ethereum, 3.14% on Sonic. - No unstaking period, instant redemptions and liquidity.

Flying Tulip Weekly Update Margin Lending expanded to Ethereum with over $1.69M already supplied, out of $4.86M total. Sonic Lend caps increased: USDC $1M → $10M and wS 30M → 100M. USSD, Sonic’s native stablecoin, is now available on Flying Tulip: use it as collateral in Margin Lending or mint ftUSD on Sonic and earn 3.93% APY. More stats in reply👇

USSD → ftUSD is now live on Flying Tulip. Deposit Sonic’s native stablecoin USSD, buy and stake ftUSD, and start earning. Current APY: ~3.18%.

ETH Lend now above $1M in deposits.

New asset listed on Sonic Lend: USSD Sonic’s native stablecoin is now available in Flying Tulip’s Margin Lending market.

.@flyingtulip_'s Global Margin Lending has now crossed $4M in total deposits with $2.7M on Sonic. You can now earn 6% APY on your stable by minting and staking ftUSD on Sonic. One click minting & redemption with no unstaking period and no exit que. Pure yield with 0 incentives! 🔗flyingtulip.com/ftusd/dashboard

5.11% on USDC on Sonic 5.27% on USDT and USDT on Ethereum - No token incentives - No subsidies - No "points" - No looping - No leverage - No "unstaking period" - No "exit queue" - Instant redemptions & liquidity Defi hasn't reached its peak yet, there is so much more to explore and build onchain.

And this is with deposit caps, system caps, circuit breakers, throttled DN lev, no spot, lev, or trs. Fun.

Flying Tulip’s model is simple: build products that generate revenue and fees, route value generated into buybacks and burns, turn growth into direct demand for $FT.

One of the most important charts for @flyingtulip_: core product revenue. Currently, two products are live: 🔹 ftUSD on Sonic and Ethereum 🔹 Margin Lending on Sonic 100% of revenue flows back to the ethereum:0x5dd1a7a369e8273371d2dbf9d83356057088082c token through spot market buys. The trend is up.

Still personally most exited about Total Return Swaps coming out, but so incredibly happy and proud of the team for shipping all this in under 60 days. The PUT system is working even in these stressed environments, exactly what it was built for, great to see it align long term supporters and provide easy exit for short term flippers without impacting the secondary. Secondary NAV system managed to absorb all exits as well, making sure there isn't a dragging tail, already bought and burned $1.22m worth of tokens. PUT marketplace trading has generated over $1m in trade volume with over 200 active sales, all without impacting the secondary market while trading PUTs at premium. Flying Tulip USD I believe is the only pure activity based stablecoin yield system, and even in these markets has outperformed base lending and even "managed vaults", and that's with only 14.5% allocation to the delta neutral staking yield positions. Our Lending is the first onchain margin based (not LTV) system, and has already shown higher capital efficiency (we needed to build it to facilitate onchain delta neutral staking trade [not possible elsewhere]). All this in 71 days, for only $475.77k spent to date. Still an exciting road ahead with spot, leverage, TRS, perps, options, binary options, and insurance, but already massive milestones accomplished.

Slowly but surely, @flyingtulip_ is scaling. Flying Tulip’s Margin Lending on Sonic has now crossed $2M in TVL. 🔗flyingtulip.com/lend/dashboard/

Flying Tulip USD $1.5m earning 5.9% APY on USDC & USDT - No incentives. - No subsidies. - No looping. - No leverage. - No gimmicks. - Caps increased from $1m to $5m. Dashboard: flyingtulip.com/lend/dashboard

What is $FT? Its the native token of @flyingtulip_, integrated across the entire product suite, with the token model designed to convert all value generated by the platform into direct demand for the token. 1) Capital from invalidated PUT Options is used for buybacks at NAV, and burns. So far, over 12,185,612.71 $FT has so far been bought from the market and burned, at a market price of about $1.4m. 2) All revenue and fees generated across Flying Tulip products are used for buybacks at spot price from the secondary market. As Flying Tulip products become fully deployed and integrated, secondary-market FT pricing should increasingly reflect the protocol’s underlying cashflows, buyback demand, and supply reduction mechanisms. In addition, once protocol revenue is sufficient to sustain team operations and reaches $3,500 per day, Flying Tulip plans to burn all unallocated and divested supply. This currently represents more than 93% of total supply, or 9,333,329,982 FT.