Flying Tulip completes $200 million financing, $FT token public offering with on-chain redemption rights

Full-stack on-chain trading platform Flying Tulip announced today that it has completed a $200 million private fundraising round and will launch an on-chain public sale of the $FT token at the same valuation.

Flying Tulip integrates native stablecoins, money markets, spot trading, derivatives, options, and on-chain insurance into a unified cross-margin, volatility-aware system to maximize capital efficiency.

Investors in this round include global institutions such as 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

All primary market participants (private and public sale) will receive on-chain redemption rights, allowing them to burn $FT at any time and redeem up to the equivalent value of their original principal (such as ETH). Redemption is automatically settled by an independent on-chain reserve pool, which is pre-funded with the raised capital. This design aims to protect investors from downside risk while retaining unlimited upside potential.

Tokenomics Linked to Use Cases

The team does not receive any initial token allocation; their token holdings will be entirely acquired through open market buybacks, funded by a portion of protocol revenue and following a transparent schedule. In other words, from day one, incentives are directly tied to real usage and long-term performance.

Public Sale Plan

The on-chain public sale will be conducted across multiple public blockchains. Supported asset types, initial circulating supply, sales mechanisms, and official smart contract addresses will be announced before launch. Flying Tulip aims to raise up to $1.1 billions in total across both private and public sale phases.

Flying Tulip founder Andre Cronje stated: “Our goal is to provide institutional-grade market structure and ensure clear alignment of interests between users, investors, and the team through on-chain guarantee mechanisms.”

About Flying Tulip

Flying Tulip is an on-chain financial market platform that unifies spot, derivatives, credit, and risk transfer into a highly capital-efficient cross-margin system. The platform aims to achieve transparent risk management and long-term sustainability.