Flying Tulip ftUSD Review: What to Check Before Using
Flying Tulip ftUSD is described as a stablecoin backed by USDC, USDT and wrapped ftUSD, with yield strategies routed through Aave. Redemption terms, fees and the scope of its listed audits need checking before you use it.
By the SkyBitcoins review team · Updated
At a glance
Flying Tulip ftUSD key facts
| Type | Stablecoin with Aave yield strategies |
|---|---|
| Collateral | USDC, USDT and wrapped ftUSD |
| Yield form | Stake ftUSD for sftUSD and FT rewards |
| Chains | Ethereum, Sonic and BNB Chain |
| Token | FT |
| Value locked | $5.79M+4.5% 7d |
| Audits | 2 audits listed |
| Updated |
Flying Tulip ftUSD FAQs
What is Flying Tulip ftUSD?
ftUSD is described as being backed by USDC, USDT and wrapped ftUSD collateral. That collateral is deployed through MintAndRedeem into Aave yield strategies; the project’s collateral ratios and redemption mechanics are not specified.
Does ftUSD earn yield?
Holders can stake ftUSD for sftUSD, which is described as earning FT rewards funded by protocol fees used to buy FT on the open market. The reward rate and any staking or withdrawal fees are not published.
Is Flying Tulip ftUSD audited and safe?
Two audits are listed, but their scope and findings are not specified. Check the audit reports, the current collateral and redemption terms, and the contracts you would interact with before depositing.
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How we checked
Sources
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