String Fluid from Unstable D-branes

We consider Sen's effective action for unstable D-branes, and study its classical dynamics exactly. In the true vacuum, the Hamiltonian dynamics remains well-defined despite a vanishing action, and is that of massive relativistic string fluid of freely moving electric flux lines. The energy(tension) density equals the flux density in the local co-moving frame. Furthermore, a finite dual Lagrangian exists and is related to the Nielsen-Olesen field theory of ``dual'' strings, supplemented by a crucial constraint. We conclude with discussion on the endpoint of tachyon condensation.