TechFlow News, April 23: According to Cointelegraph, Flying Tulip—a decentralized finance platform founded by Andre Cronje—has activated a withdrawal circuit-breaker mechanism. This mechanism delays or queues withdrawals during abnormal outflows of funds, thereby limiting potential losses and buying time for the team to investigate. The mechanism operates differently across products: For the Perpetual PUT product, withdrawals may be reverted, requiring users to retry later; for ftUSD, withdrawals are queued and can be claimed after a delay. Flying Tulip states that the mechanism adopts a “fail-open” design—meaning transactions continue executing even if the safety mechanism fails.
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