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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Flying Tulip

# Flying Tulip Tvl Methodology

## 1. Overview

TVL (Total Value Locked) measures the total USD value of assets deposited into Flying Tulip across its two products: Flying Tulip USD and Flying Tulip Lend. For Flying Tulip USD, TVL is represented by the circulating supply of the Flying Tulip USD stablecoin. For Flying Tulip Lend, TVL captures the total value of assets actively supplied to each reserve, including both available liquidity and outstanding borrows. Together, these components reflect the full economic footprint of assets entrusted to the protocol.

## 2. Data sources

- **Upstream metric**: Circulating supply of Flying Tulip USD, derived from the Outstanding supply metric for the `Flying Tulip USD` asset
- **Blockchain state**: Per-reserve lending state snapshots from `LendingLens` contract queries, covering both supported chains, providing daily `cash` and `borrows` balances per reserve address
- **External data**: End-of-day price feeds and asset metadata for reserve assets held in Flying Tulip Lend

## 3. Step-by-step calculation

### Component A: Flying Tulip USD TVL

- **Purpose**: Capture the value locked in the Flying Tulip USD stablecoin product
- **Logic**: The circulating supply of Flying Tulip USD is sourced directly from the Outstanding supply metric, where the `Flying Tulip USD` asset's circulating market cap is already denominated in USD. This value is carried forward as-is into the TVL calculation, with the product attributed to `Flying Tulip USD`.

### Component B: Flying Tulip Lend TVL

- **Purpose**: Capture the total value of assets supplied to Flying Tulip Lend reserves
- **Logic**: Daily reserve state snapshots are consumed for each reserve address. TVL per reserve is calculated as `cash + borrows`, representing all assets in the protocol regardless of whether they are currently idle or lent out. The Flying Tulip USD reserve is explicitly excluded from this calculation to prevent double-counting assets already captured under Component A. Reserves where the combined `cash + borrows` value equals zero are also excluded. Amounts are normalized by decimal precision and multiplied by end-of-day asset prices to convert raw reserve balances to USD.

### Component C: Aggregation

- **Purpose**: Combine both product TVL streams into a single daily time series
- **Logic**: Flying Tulip USD TVL and Flying Tulip Lend TVL are unioned and summed by day, product, and chain. Missing days are forward-filled to carry the last known state forward, reflecting the persistent nature of locked assets.

*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.

Flying TulipFT

Total value locked

Total value locked

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