# Flying Tulip Options Fees Methodology

## 1. Overview

Fees measures the total value collected by Flying Tulip Options from marketplace trading activity on Ethereum. For Flying Tulip Options, fees are equivalent to protocol revenue — no portion is distributed to a supply side. Fees are composed of combined maker and taker charges assessed on each completed trade, denominated in the traded asset and converted to USD.

## 2. Data sources

- **Blockchain events**: `Sold`, `NewListing`, and `BuyOfferAccepted` events from `OptionsMarketplace` contracts, covering Ethereum
- **External data**: End-of-day price feeds for traded assets

## 3. Step-by-step calculation

### Component A: Sale fee extraction

- **Purpose**: Capture combined maker and taker fees from completed secondary-market sales
- **Logic**: `Sold` events are parsed from `OptionsMarketplace` contracts on Ethereum. The maker fee and taker fee fields are summed per event to produce a total fee amount per trade. Because `Sold` events do not carry the fee-denominating asset directly, the fee token is resolved by joining to the most recent `NewListing` event for the same token identifier at or before the block of the sale. The latest matching listing by block number and log index is selected, ensuring the correct asset is attributed to each sale.
- **Key fields**: `makerFee`, `takerFee` (summed to total fee amount), `tokenId` (used to join listings), `token` from the matched listing (fee asset denomination)

### Component B: Buy-offer fee extraction

- **Purpose**: Capture combined maker and taker fees from accepted buy offers
- **Logic**: `BuyOfferAccepted` events are parsed from `OptionsMarketplace` contracts on Ethereum. The maker fee and taker fee fields are summed per event. Unlike sale events, the fee-denominating asset is carried directly within each `BuyOfferAccepted` event and requires no join to listing history.
- **Key fields**: `makerFee`, `takerFee` (summed to total fee amount), `token` (fee asset denomination)

### Component C: USD conversion and aggregation

- **Purpose**: Normalize fee amounts to USD for consistent measurement
- **Logic**: Raw fee amounts from both components are combined. Amounts are normalized by decimal precision using asset metadata and multiplied by end-of-day asset prices. Results are aggregated to daily granularity using UTC day boundaries.

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

Total value users pay to use a protocol (gross fees, user-paid fees).

Fees

Derivative exchanges

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.

Perpetual PUT Marketplace

Fees

Fees

Chain breakdown