ftUSD, issued by Flying Tulip, is a stablecoin that targets a value of one U.S. dollar (USD) [S1]. It is backed by USDC and USDT supplied to onchain money markets such as Aave v3 [S1].

Holders receive a token redeemable for an accepted stablecoin at the prevailing rate [S1]. ftUSD is non-yielding by default; only staked ftUSD (sftUSD) accrues the distributed strategy carry, a variable return that is not guaranteed [S1]. The interest earned on that reserve is what funds those sftUSD distributions [S1].

Flying Tulip operates the protocol and applies sanctions constraints referencing the U.S. Office of Foreign Assets Control (OFAC) [S2]. The documentation names no single corporate issuing entity, no jurisdiction of incorporation, and no financial regulator for the token [S1]. Sensitive contract functions use multisig governance with separated roles, and external audits precede capital-bearing features [S3].

ftUSD is an ERC-20 token deployed on Ethereum and Sonic [S4]. Users mint by depositing an accepted stablecoin such as USDC and receiving ftUSD, and redeem by converting ftUSD back to the input asset at the prevailing rate, with exit and cooldown parameters shown in-app [S1]. The system operates fully onchain with no oracles or centralized systems [S1].

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  retrievedAt="2026-07-10"
  items={[
    { id: "S1", url: "https://docs.flyingtulip.com/product-suite/ft-usd/" },
    { id: "S2", url: "https://docs.flyingtulip.com/glossary/" },
    { id: "S3", url: "https://docs.flyingtulip.com/risks/" },
    { id: "S4", url: "https://docs.flyingtulip.com/contract-addresses/" },
  ]}
/>


Stablecoins

Users deposit single assets into wrapper contracts. Flying Tulip deploys these deposits into automated yield strategies (e.g., Aave V3) across Ethereum, Sonic, BNB Chain, Avalanche, and Base, maximizing capital efficiency.

Flying Tulip is a multi-chain yield aggregation protocol that pools user deposits into wrapper contracts and deploys them into automated yield strategies. The protocol supports assets including USDC, wETH, USDT, USDS, USDTb, and USDe, and uses an omnichain FT token to align incentives across its five supported networks.

FT tokenholders own and govern the Flying Tulip protocol. Flying Tulip is a yield aggregation protocol backed by partnerships with major DeFi protocols.

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Asset management

Flying Tulip

Flying Tulip USD (ftUSD) is a U.S. dollar stablecoin issued by Flying Tulip.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with Flying Tulip in USDC, USDT, and USSD.

ftUSD has been issued on public blockchains since February 2026 and is native to Ethereum and Sonic.

Flying Tulip USDftUSD

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