Sam retweeted
90 days. All brand new systems. Will take awhile till people realize why equity based accounts are better than LTV lending.
Flying Tulip Weekly Update - May 29
This week: ftUSD became available as collateral on Lend, BTC borrow costs were reduced on Sonic and Ethereum, and Sonic Lend borrowing parameters were updated to make borrowing more accessible.
ftUSD supply and Margin Lending TVL continued to grow, with ftUSD APY on Sonic increasing to 4.57% — all without incentives, points, or leverage-driven farming, and with instant redemptions.
More stats in reply 👇
Sam retweeted
ftUSD is now available as collateral on Lend.
Also, BTC borrow costs were reduced on Sonic and Ethereum through interest rate model optimization.
Sonic Lend parameters were updated to make borrowing more accessible:
▸ minimum margin equity reduced: $250 → $10
▸ minimum repayment amount reduced: $10 → $2
Sam retweeted
TVL on Sonic has crossed the $5M mark for @flyingtulip_.
▪️Lend deposits: $3.85M
▪️ftUSD supply: $1.33M
▪️USDC deposit rate: 8.95%
All without external incentives. Good products scale when the yield is real.
▶️flyingtulip.com/lend/
Sam retweeted
5.41% APY base on USDT & USDC, before even calculating incentives / points / liquid incentives.
flyingtulip.com/ftusd/
Sam retweeted
so @flyingtulip_ has started
all this with one signature on @SonicLabs it less than 2 seconds
how?
read the documentation!
Sam retweeted
Good product design can scale on Sonic without external incentives.
@FlyingTulip_ is already showing it: over $4.7M in Sonic TVL with no subsidies, no points program, and no rented liquidity.
Useful products attract capital because users have a reason to stay.
Sam retweeted
Sonic's Vertical Integration is outperforming expectations right out of the gate.
In the first 10 weeks, early VI revenue produced ~400% more deflationary impact than fee-related burns over the same window.
This is only from $USSD and @MetropolisDEX vault activity.
The full VI model has barely started.
Sam retweeted
$USSD is live for ftUSD minting on @FlyingTulip_ on Sonic.
Sonic’s vertically integrated stablecoin is now supported as collateral for ftUSD, giving users another way to enter Flying Tulip’s stable asset layer.
With $USSD, users can mint ftUSD in one click, stake it for yield, and redeem back without an exit queue or unstaking period.
Sam retweeted
ftUSD supply on Sonic is up 21% today as @flyingtulip_ continues to scale.
Mint ftUSD:
🔹USDC & USDT on ETH
🔹USDC & USSD on Sonic
🔗 flyingtulip.com/ftusd/dashbo…
Sam retweeted
New asset listed on Sonic Lend: USSD
Sonic’s native stablecoin is now available in Flying Tulip’s Margin Lending market.
Sam retweeted
ftUSD caps have been increased again.
On Sonic Lend:
USDC: 1M -> 10M
wS: 30M -> 100M
Earn 5.63% on Sonic by depositing into ftUSD.
Sam retweeted
"The contest wrapped up with zero valid Medium or High severity findings, making it one of the cleanest contest outcomes we have seen on Sherlock."
Very appreciative of Sherlock, our codebase was also one of the first public contests that really stress-tested "AI submissions", there were a lot...
That being said, audits are not a silver bullet, any good security is a layered approach. Audits for smart contract code, pen testing for web infra, external policy monitoring on RPC and external infra, bounties, public auditing contests, timelocks, multisigs, proper derisking of multi geographical signers, and code level implementations (such as circuit breakers or queues) all need to be considered. In today's "new defi" of proxy upgradeable contracts, msig managed configs, external RPC inputs for onchain decision making, one bad config can drain everything.
Sam retweeted
“Gemini models are core to Sonic’s AI stack, powering Spawn and other agentic commerce tools for developers building onchain payments, applications, and autonomous workflows.”
— @0xseg
Read the full story of how Sonic built with Google Cloud 👇
In Web3, reliability is non-negotiable.
As a Premier @GoogleCloud Partner, BCW Group worked with @0xSonicLabs to architect a "secure-by-design" foundation that puts AI at the center of development.
The Highlights:
🔹 Spawn App Builder: Concept to dApp in 15 mins via Gemini models.
🔹 Total Reliability: High-availability operations powered by Google Cloud.
🔹 Data at Scale: Real-time analytics with BigQuery & GKE.
🔹 Internal Efficiency: Gemini 1.5 Pro automating tech support workflows.
The future of dApp growth is AI-augmented. 🚀
Full Story: cloud.google.com/customers/s…
@gcloudpartners
Sam retweeted
Flying Tulip’s Margin Lending is scaling on Sonic.
TVL is now $1.3M
▪️ USDC deposit APY on Lend: 4.3%
▪️ Staked ftUSD APY on Sonic: 3.58%
More capital efficient stablecoin activity is coming onchain to Sonic.
🔗flyingtulip.com/lend/dashboa…
Sam retweeted
$ftUSD's Delta Neutral Staking Yield strategy has been enabled on Sonic, currently earning 5.39% APY on USDC deposits. Capped at $10,000. Once infra is hardened will scale up to full deposits.
Sam retweeted
Margin lending has launched.
Guarded, capped launch. No active incentives.
Margin lending is the next component to unlocking ftUSD yield opportunities.
Maintenance Margin | Caps [collateral / debt]
USDC 1.5% | 1.5m / 0.75m
S 17% | 20m / 6m
stS 21% | 8m / 0
FT 0% | 0 / 0
ftUSD 0% | 1m / 0
ETH 19% | 1k / 100
BTC 22% | 10 / 1
Networks: Sonic
Next: Spot, Leverage trading, Total Return Swaps.
Lend: flyingtulip.com/lend/dashboa…
Support: discord.gg/flyingtulip
Docs: docs.flyingtulip.com/product…
