Flying Tulip(FT)

Overview

Flying Tulip (FT) is a decentralized finance project led by Andre Cronje, known for co-founding Yearn Finance and for his work on the Fantom and Sonic ecosystems. It is presented as an all-in-one on-chain exchange that combines spot trading, perpetual futures, lending, and options within a single shared-collateral framework. The name is a reference to the 17th-century Dutch tulip trade.

A central technical element is an adaptive-curve automated market maker that adjusts liquidity concentration in response to market volatility instead of relying on a fixed curve. FT is the protocol's native token, introduced through a public sale in 2025 in which raised capital was described as being held in reserve, alongside a mechanism linking protocol revenue to token buybacks. Design details and rollout plans have changed over time, so current specifications are best confirmed in the project's official documentation.