Flying Tulip USD (ftUSD) stablecoin analytics
ftUSD is Flying Tulip's stablecoin minted 1:1 against USDC or USDT, with deposits routed to Aave and native assets borrowed against them to fund staking carry.
Static Profile
Static stablecoin profile
Flying Tulip USD (ftUSD) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated May 15, 2026
ftUSD is Flying Tulip's USDC/USDT-collateralized dollar with staking carry from borrowed native assets — a domesticated delta-neutral pitch with $225M raised and $730K used. Andre Cronje's Flying Tulip raised $225 million to build a DeFi super-app, and the stablecoin at its...
AI summary · drafted by claude-opus-4-7 · reviewed by @TokenBrice on May 15, 2026 · facts as of May 15, 2026
- Collateral
- USDC and USDT supplied to Aave for low-risk interest; this stablecoin lending is the only on-chain strategy currently live, with the delta-neutral leg (borrow a native asset such as Sonic S against the deposits and stake it for carry) documented as a staged roadmap item; distributed strategy yield routes to sftUSD stakers while unstaked ftUSD proceeds accrue to the protocol treasury
- Peg Mechanism
- Mint and redeem 1:1 against USDC or USDT through on-chain MintAndRedeem contracts; deposits are currently supplied to Aave for low-risk carry, with a delta-neutral leg (borrow a native asset against the collateral and stake it) documented as a staged roadmap item targeting net market exposure near zero; ftUSD circuit-breaker contracts enforce position caps, rebalancing bands, and withdrawal rate limits
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- Self-Reported PoR by Flying Tulip dashboard Reserve source
Snippet Answer
Is ftUSD safe?
Pharos does not mark ftUSD as absolutely safe. Static metadata says Flying Tulip USD uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with Self-Reported PoR from Flying Tulip dashboard; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety ftusd-flying-tulip
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated May 15, 2026.
ftUSD quick answers
What is Flying Tulip USD (ftUSD)?
ftUSD is Flying Tulip's stablecoin minted 1:1 against USDC or USDT, with deposits routed to Aave and native assets borrowed against them to fund staking carry. The static profile records its US Dollar peg mechanism as: Mint and redeem 1:1 against USDC or USDT through on-chain MintAndRedeem contracts; deposits are currently supplied to Aave for low-risk carry, with a delta-neutral leg (borrow a native asset against the collateral and stake it) documented...
What backs ftUSD?
Pharos classifies ftUSD backing as Crypto-Collateralized. Collateral, per the static profile: USDC and USDT supplied to Aave for low-risk interest; this stablecoin lending is the only on-chain strategy currently live, with the delta-neutral leg (borrow a native asset such as Sonic S against the deposits and stake it for carry)... Reserve evidence: Self-Reported PoR from Flying Tulip dashboard.
Can ftUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for ftUSD, when applicable, appear in the dossier below.