# Flying Tulip Lend Tvl Methodology

## 1. Overview

TVL (Total Value Locked) measures the total USD value of assets deposited into Flying Tulip Lend across all supported reserves. It represents the sum of idle liquidity available for borrowing and the outstanding borrowed amounts at any point in time. This metric reflects the scale of Flying Tulip Lend's lending activity and serves as a key indicator of protocol adoption and capital efficiency. The Flying Tulip USD reserve is excluded from the Flying Tulip Lend TVL calculation to prevent double-counting, as Flying Tulip USD TVL is accounted for separately at the project level.

## 2. Data sources

- **Blockchain state**: Per-reserve snapshots from the `LendingLens` contract's `assetState` read, capturing `cash` and `borrows` fields for each reserve address, covering both supported chains
- **External data**: End-of-day price feeds and asset metadata (symbol, decimal precision) for each reserve asset

## 3. Step-by-step calculation

### Component A: Reserve-level TVL computation

- **Purpose**: Derive the total locked value for each active Flying Tulip Lend reserve
- **Logic**: Per-reserve daily state snapshots are sourced from the `LendingLens` contract's `assetState` read. For each reserve, TVL is computed as `cash + borrows`, where `cash` represents uninvested liquidity held by the reserve and `borrows` represents the outstanding loan principal. Reserves where this sum equals zero are excluded. The Flying Tulip USD reserve is additionally excluded by address to avoid double-counting its circulating supply, which is attributed to Flying Tulip USD TVL at the project level.
- **Key fields**: `reserve_address` (reserve identification), `cash` (idle liquidity), `borrows` (outstanding principal)

### Component B: USD conversion

- **Purpose**: Normalize reserve-level TVL amounts to USD for cross-asset aggregation
- **Logic**: Raw reserve amounts are normalized by each asset's decimal precision using the asset metadata reference. Decimal-adjusted amounts are then multiplied by end-of-day asset prices, joining on chain, reserve address, and timestamp. Only reserves with a matching price and decimal entry are included in the final output.

### Component C: Aggregation and forward-filling

- **Purpose**: Produce a continuous daily TVL series for Flying Tulip Lend
- **Logic**: USD-denominated TVL values are summed across all qualifying reserves per day and chain. Any missing days in the series are filled forward from the most recent available observation, ensuring a gap-free daily time series is presented.

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

Total value locked (TVL)

Total value locked (TVL) — value deposited into the project's applications.

Total value locked

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

Total value locked

Total value locked

Chain breakdown