The Flying Tulip project, which aims to deploy $1B on-chain into protocols like Aave, Ethena, and Spark for a 4% target yield, is facing scrutiny over its treasury managers. The post suggests reconsidering MEV Capital and Re7 Capital due to alleged poor risk management during the xUSD situation. Investors should monitor for potential changes in treasury management, as this could impact the project's stability and the FT token.