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Every protocol here carries a dated score and the share of it backed by independently verified evidence. Where that share is still thin the assessment says so, is marked Low-signal rather than given a risk band, and holds every unevidenced category at the neutral midpoint instead of assuming it safe. Every score and its reasoning are free to read; the underlying dependency, incident and audit records are part of a plan. Each reading here is fixed at the date beside it. Re-scoring never stops, but a changed reading reaches plan holders on the day it changes rather than this page, which is what a plan is for. How a score is built, how to read one, and how the rubric was tested against real exploits are all in the methodology.

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Scores run from 0, the safest reading, to 100, the riskiest, where 50 is the neutral midpoint every unverified category is held at. Red marks a protocol scoring 50 or above, the band called Elevated: worse than neutral on the evidence gathered. Amber marks one below it, called Moderate. The boundary is fixed. It does not move as coverage grows, and it is not fitted to any backtest result.

Flying Tulip ftUSD

Flying Tulip ftUSD official site N/A

Multi-Chain

:

  • Evidence: this reading is based on 100% of the scored weight, verified against named sources. Categories without verified data are held at the neutral midpoint at their full weight, never counted as safe.
  • Validation: measured against 4 comparable incidents/controls in this protocol's TVL, age and category bucket.

Published 2026-09-25. Up-to-date reading and 2 changes since for subscribers. See plans

Why this rating
Audit profile18.0
No third-party audit published: the protocol's own materials were checked and name none, so this category is scored at its worst value.
Dependency risk9.0
Uses 1 oracle (Flying Tulip's own address book lists an ftUSD oracle and a Chainlink oracle router on Ethereum, although the ftUSD page describes the product as having no oracles.), composable with 4 other protocols.
Code characteristics9.0
Admin key: 3/5 multisig (requires 3 of 5 keys to act), upgradeable without a meaningful timelock, open source.
Governance attack surface7.0
No governance token; control sits with multisig rather than a vote, so decision rights are concentrated rather than capturable. The form of that key is scored separately under code characteristics.
TVL profile6.0
TVL dropped 75% recently, rapid outflow can signal a loss of confidence or an in-progress exploit.
Bug bounty3.3
No bug bounty program on record.
Team factors3.0
Anonymous team, a weak but real signal on its own.
Protocol age2.8
151 days live, still young.
Historical incidents2.2
No known own or inherited incidents as of 25 September 2026.
Assets held (2)

Available with a plan. See pricing.

Dependencies (2)

Available with a plan. See pricing.

Incident history (0)

Available with a plan. See pricing.

Audit history (0)

Available with a plan. See pricing.

Common questions about Flying Tulip ftUSD

Foreshock's independent reading of Flying Tulip ftUSD is Elevated risk, 60.3 out of 100, as of 25 September 2026. The largest single contributor to that reading is audit profile: no third-party audit published: the protocol's own materials were checked and name none, so this category is scored at its worst value. All nine scored categories are backed by verified evidence. This published reading is fixed at that date. Re-scoring never stops, and when a reading changes it reaches plan holders on the day it changes rather than this page. Foreshock publishes the reading and the reasoning behind it. It is not a verdict on whether to use this protocol, and it is not investment advice.

Is Flying Tulip ftUSD safe?
Foreshock does not answer that as a yes or a no. Its independent reading of Flying Tulip ftUSD is Elevated risk, 60.3 out of 100, as of 25 September 2026, led by audit profile: no third-party audit published: the protocol's own materials were checked and name none, so this category is scored at its worst value. The score and the reasoning are published in full so the reading can be checked rather than trusted.
Has Flying Tulip ftUSD been audited?
No third-party audit published: the protocol's own materials were checked and name none, so this category is scored at its worst value. An audit describes the code at the time it was reviewed. It is not a statement that the protocol is safe today.
Who controls Flying Tulip ftUSD?
Admin key: 3/5 multisig (requires 3 of 5 keys to act), upgradeable without a meaningful timelock, open source. No governance token; control sits with multisig rather than a vote, so decision rights are concentrated rather than capturable. The form of that key is scored separately under code characteristics.
Has Flying Tulip ftUSD been exploited before?
No known own or inherited incidents as of 25 September 2026. Foreshock records an incident against a protocol whether it originated there or was inherited from something it depends on.
When was this Flying Tulip ftUSD assessment last updated?
25 September 2026, and that date does not move on its own. A reading published here is fixed when it is published; re-scoring never stops, and a changed reading reaches plan holders on the day it changes rather than this page. Every category carries the date of the evidence behind it.
Also covered on Multi-Chain

This assessment follows Foreshock's published methodology. Exact category weights, scoring rules, thresholds, and aggregation logic are proprietary and not shown here. How to interpret this assessment

This reading will change.

This reading is fixed at the date above it, and it stays there. We keep re-scoring Flying Tulip ftUSD as the evidence moves, a new audit, a changed admin control, an incident, and this page is free to read and always will be. The updated reading is what a plan buys: you are told by email on the day it changes, instead of finding out the next time you happen to look.

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