@Tulpea_org

Tulpea is an early-stage RWA protocol building decentralized real estate financing on MegaETH.

They've launched a functional debt vault product that's already closed 3 villa deals in Bali with structured debt (30% down, 70% financed onchain).

The project is pre-token but has a points system (TULIP Bulbs), and appears to be in active mainnet deployment with real capital flows.

Account is only 2 months old with <1k followers, fitting the early-stage profile despite having working product traction.

Green flags: Working product with real transactions: 3 villas sold, vault 37% filled with actual capital deployment · Novel structure: first onchain real estate deals with only 30% down payment, structured debt waterfall · Building on MegaETH, an emerging L2, aligning with ecosystem growth · Very early account (March 2025, <1k followers) with substance and execution · Clear product differentiation: not wrapping TradFi or token overcollateralization, but originating real debt

Red flags: Extremely new project with limited operational history (only 2 months old) · Regulatory risk: real estate financing typically requires licenses, unclear legal structure · Pre-token with points farming mechanics could indicate airdrop speculation · Small community size may indicate limited due diligence or trust from broader market