Flying Tulip is a DeFi protocol suite with a hybrid AMM and CLOB spot engine, depth-aware lending markets, and perpetual futures that use internal spot trading for pricing and settle in ftUSD. Spot routes through the CLOB first, then crosses residual flow against the AMM, and publishes TWAP and RWAP windows consumed by other modules. Lending includes permissionless per-pair markets and a permissioned cross-collateral pool. Additional components include ftPUT perpetual put options and a marketplace for trading ftPUT via listings and signed bids, with maker and taker fees.