# Flying Tulip Lend Active Loans Methodology

## 1. Overview

Active Loans measures the total value of outstanding borrows across all lending reserves in Flying Tulip Lend. The metric reflects the aggregate principal currently owed by borrowers, denominated in USD. Active Loans is a core indicator of Flying Tulip Lend's capital utilization and overall market depth. Because borrow balances are carried forward until repaid, the metric is populated using a forward-fill strategy to ensure continuity between daily state reads.

## 2. Data sources

- **Blockchain state reads**: Daily snapshots of per-reserve borrow balances are sourced from `LendingLens` contract state reads, specifically the `assetState` view's `borrows` field for each reserve, covering both chains on which Flying Tulip Lend is deployed
- **External data**: End-of-day price feeds for borrowed assets, matched by chain and asset address

## 3. Step-by-step calculation

### Component A: Reserve borrow balance extraction

- **Purpose**: Identify the outstanding borrow balance for each lending reserve on each day
- **Logic**: Daily reserve state snapshots are read from the `LendingLens` contract's `assetState` output. The `borrows` field for each reserve is extracted, representing the total principal outstanding for that asset. Records where `borrows` equals zero are excluded, so only reserves with active outstanding debt are carried forward.
- **Key fields**: `borrows` (outstanding principal per reserve), `reserve_address` (identifies the borrowed asset), `chain`, `timestamp`

### Component B: Decimal normalization and USD conversion

- **Purpose**: Normalize raw borrow amounts to human-readable units and convert to USD
- **Logic**: The `reserve_address` is joined to asset metadata to retrieve decimal precision. Amounts are normalized by decimal precision. Normalized balances are then multiplied by the end-of-day asset price, matched on timestamp, chain, and asset address, to produce a USD-denominated active loans figure.
- **Key fields**: `decimals` (from asset metadata), `price_usd` (end-of-day price feed)

### Component C: Aggregation and forward-filling

- **Purpose**: Produce a complete daily time series per reserve and chain, without gaps
- **Logic**: USD-denominated borrow balances are summed by day, chain, and reserve. A forward-fill strategy is applied so that on days where no new state snapshot is available, the most recent observed balance is carried forward. Results are filtered against chain availability and archival status to ensure only data within approved freshness windows is surfaced.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of loans currently outstanding to borrowers.

Active loans

Lending

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.

Flying Tulip Lend

Active loans

Active loans

Chain breakdown