Flying Tulip wallet

What is Flying Tulip (FT)?

Flying Tulip is Andre Cronje's attempt to put a full DeFi stack under one roof: spot trading, perpetuals and a lending market that share one pool of collateral, so a position opened in one part of the platform can back activity in another. FT is the platform's own token, used in the platform's fee and incentive design. It is the same team lineage as Yearn and Sonic, and Sonic is where the project treats itself as being at home, with Ethereum as the second base.

The unusual part of FT for a holder is how it was distributed. The token sale came with a redemption right: a participant could hand FT back to the protocol and receive the asset they originally paid, at the sale price. That right is embedded in a separate position (an NFT) that holds the sale allocation, not in the token itself, and withdrawing FT from that position forfeits it. If you bought in the sale and still care about that option, do not withdraw or shuffle the tokens to a fresh address without checking what it means for your redemption; FT bought later on the open market carries no such right.

FT is an ERC-20 style token on every network it lives on. There is no rebase and the balance does not change on its own; fees are paid in the native coin of the network you are transacting on, so you need a little of that coin alongside the token. The same address can hold FT on several chains at once, and the balances are unrelated to each other.

That last point is where Tangem fits. In the Tangem app each network's FT is its own line with its own balance, and when you send, you start from that line, so the network is a choice you make on screen rather than something buried in a default. For a token that spread across chains right after launch, seeing which copy of FT you are moving is the thing that matters most, and Tangem gives you exactly that view.

Supported networks in Tangem (4): Base, Ethereum, BNB Smart Chain, Avalanche.