diff --git a/src/adaptors/flying-tulip-ftusd/index.js b/src/adaptors/flying-tulip-ftusd/index.js
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+const sdk = require('@defillama/sdk');
+const axios = require('axios');
+
+// Flying Tulip ftUSD — yield-bearing stablecoin staked into sftUSD.
+// Reward stream: protocol uses the fees collected by the ftUSD MintAndRedeem
+// engine to buy FT on the open market and distributes it to sftUSD stakers per
+// epoch through the EpochRewardsVault. FT total supply is fixed; nothing is
+// minted, so the reward APY is fully economic, not emission-driven.
+//
+// Sources:
+//   - https://api.flyingtulip.com/ftusd/contracts/all
+//   - https://flyingtulipdotcom.github.io/deployments/prod-eth-ftusd.toon
+//   - https://flyingtulipdotcom.github.io/deployments/prod-sonic-ftusd.toon
+
+const SFT_USD = {
+  ethereum: '0xeb48218a4c35C814C7678cBcae88C6Ee037F7625',
+  sonic: '0xD1E5A86f1005F6356Bd022C587dE0f430CD2aeb1',
+};
+
+// ftUSD is a CREATE2-deterministic deployment so the address is identical on
+// every supported chain.
+const FTUSD = '0xF7D85EC4E7710f71992752eac2111312e73E9C9C';
+
+// FT reward token. Same address on Ethereum and Sonic per the on-chain
+// EpochRewardsVault.FT() reference.
+const FT = '0x5DD1A7A369e8273371d2DBf9d83356057088082c';
+
+const EVENT_EPOCH_SETTLED =
+  'event EpochSettled(uint32 indexed epochId, uint256 rewardAmount, uint256 stakeTime, uint256 rateRay)';
+
+// 30 day reward window. Sonic settles roughly every 8 hours and Ethereum
+// roughly daily so this captures a meaningful number of epochs on both chains.
+const WINDOW_DAYS = 30;
+
+// Conservative average block-time per chain (12 s on Ethereum, ~0.4 s on Sonic).
+const BLOCKS_PER_DAY = {
+  ethereum: 7200,
+  sonic: 216000,
+};
+
+const CHAIN_LABEL = {
+  ethereum: 'Ethereum',
+  sonic: 'Sonic',
+};
+
+const apy = async () => {
+  // FT price is fetched best effort. If coins.llama.fi misses or returns 0
+  // the adapter still reports TVL with apyReward = 0 instead of dropping
+  // both pools entirely.
+  let ftPrice = 0;
+  try {
+    const ftPriceKey = `ethereum:${FT}`;
+    const resp = await axios.get(
+      `https://coins.llama.fi/prices/current/${ftPriceKey}`
+    );
+    const candidate = resp.data?.coins?.[ftPriceKey]?.price;
+    if (typeof candidate === 'number' && candidate > 0) ftPrice = candidate;
+  } catch (_) {
+    ftPrice = 0;
+  }
+
+  const pools = [];
+  for (const chain of Object.keys(SFT_USD)) {
+    const vault = SFT_USD[chain];
+
+    // sftUSD is an ERC4626 with 1:1 share-to-asset ratio (no pricePerShare
+    // growth) so totalSupply equals the staked ftUSD assets, which is
+    // dollar-pegged and 6-decimal. tvlUsd = totalSupply / 1e6.
+    const totalSupply = (
+      await sdk.api.abi.call({
+        target: vault,
+        abi: 'erc20:totalSupply',
+        chain,
+      })
+    ).output;
+    const tvlUsd = Number(totalSupply) / 1e6;
+
+    const latestBlock = (await sdk.api.util.getLatestBlock(chain)).number;
+    const fromBlock = Math.max(
+      0,
+      latestBlock - BLOCKS_PER_DAY[chain] * WINDOW_DAYS
+    );
+
+    const logs = await sdk.getEventLogs({
+      target: vault,
+      eventAbi: EVENT_EPOCH_SETTLED,
+      fromBlock,
+      toBlock: latestBlock,
+      chain,
+    });
+
+    let totalRewardWei = 0n;
+    for (const log of logs) {
+      totalRewardWei += BigInt(log.args.rewardAmount.toString());
+    }
+    // Scale wei down to FT in the BigInt domain first to keep precision.
+    // 30 days of rewards on Ethereum is on the order of 1e22 wei, well above
+    // the 2^53 safe integer limit, so a direct Number(totalRewardWei) cast
+    // would lose several digits and skew the APY.
+    const FT_DECIMALS = 18n;
+    const PRECISION = 6n; // 1e6 FT-units of precision in the final number
+    const scaled = totalRewardWei / 10n ** (FT_DECIMALS - PRECISION);
+    const rewardFt = Number(scaled) / Number(10n ** PRECISION);
+    const rewardUsd = rewardFt * ftPrice;
+
+    let apyReward = 0;
+    if (tvlUsd > 0 && rewardUsd > 0) {
+      apyReward = (rewardUsd / tvlUsd) * (365 / WINDOW_DAYS) * 100;
+    }
+
+    pools.push({
+      pool: `${vault}-${chain}`.toLowerCase(),
+      chain: CHAIN_LABEL[chain],
+      project: 'flying-tulip-ftusd',
+      symbol: 'sftUSD',
+      tvlUsd,
+      apyReward,
+      rewardTokens: [FT],
+      underlyingTokens: [FTUSD],
+      poolMeta: 'staked ftUSD (FT rewards bought on open market)',
+      url: 'https://app.flyingtulip.com/',
+    });
+  }
+
+  return pools;
+};
+
+module.exports = {
+  apy,
+  url: 'https://flyingtulip.com/',
+};