Flying Tulip announces $200 million in funding, will launch public sale of $FT at the same valuation with on-chain redemption rights
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Flying Tulip announces $200 million in funding, will launch public sale of $FT at the same valuation with on-chain redemption rights
Flying Tulip is an on-chain financial market that unifies spot, derivatives, credit, and risk transfer within a capital-efficient cross-margin system. The platform is built for transparent risk management and long-term sustainability.
Navigating Web3 tides with focused insightsFull-stack on-chain exchange Flying Tulip today announced the completion of a $200 million private fundraising round and will launch the public on-chain sale of its token $FT at the same valuation. Flying Tulip natively integrates stablecoins, money markets, spot trading, derivatives, options, and on-chain insurance within a single cross-margin, volatility-aware system, aiming to achieve capital efficiency.
This funding round involved multiple global investors, including Brevan Howard Digital, CoinFund, DWF, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol.
On-Chain Redemption Rights ("Permanent Put")
All participants in the primary sales (private and public) will receive on-chain redemption rights, allowing them to burn $FT at any time and redeem up to their original principal in the asset initially contributed (e.g., ETH). Redemptions will be settled programmatically via an on-chain redemption reserve pre-funded by raised capital and kept separate from other funds. This design aims to protect on the downside while preserving unlimited upside potential.
Tokenomics Aligned with Usage
The team receives no initial allocation. Instead, the team's exposure is built gradually through open-market buybacks funded by protocol revenue shares and following a transparent schedule. From day one, incentives are tied to actual usage and long-term performance.
Public Sale
The on-chain public sale will take place across multiple blockchains. Supported assets, initial circulating supply, sale mechanisms, and official smart contract addresses (to be published on the official website) will be disclosed prior to launch. Flying Tulip plans to raise up to $1 billion in total across both private and public phases.
"Our goal is to deliver institutional-grade market structure built on on-chain assurances, creating clear alignment among users, investors, and the team," said Andre Cronje, founder of Flying Tulip.
About Flying Tulip
Flying Tulip is an on-chain financial market that unifies spot, derivatives, credit, and risk transfer within a capital-efficient cross-margin system. The platform is built for transparent risk management and long-term sustainability.
Users can visit flyingtulip.com for more information.
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